Brokers slam MFAA deadline rethink

I think most brokers are just disappointed in the way the MFAA communicates these things. Out and about demanding that a diploma is done at a certain time then out and about asking the regulator to stop bringing in new amendments as brokers are still struggling with NCCP. It is these inconsistent messages (these are the most recent ones) that confuse and put pressure on it's members and then they back track at the last moment. A round of applause when you back track shows just how divisive this message was. So as a member we get extremely frustrated at how the MFAA is being managed. Is there any accountability for these mixed messages? Are the board having too much of an influence over the CEO? Has the current CEO taken the MFAA as far as he can and it's now time for a new CEO to take it to the next lever? Watching this play out over the last 6 months has been confusing for most and disappointing for the rest of us. If the MFAA is to be taken seriously by regulators, politicians etc it first needs to be taken seriously by it's members and it would appear from the above it's not.

I amust say i am disappointed in many of these comments, yes I am a little cranky about completing my Diploma on time and the seeing the fact the time line has been extended , would have been better to say you must prove yu are enrolled and then say you have 12 month to finish or you can leave .
I beive te MFAA have done a great job with the NCCP and lobbying plus the provision of all the information about how to registe and what to do FIRST CLASS .
i believe those who are leaving and proposng to go to another industry body are living in a fools paradise!

Thanks for listening MFAA.
I know you're "damned if you do or don't" in these blogs as no one is generally heralded for making positive comment however my small business and I appreciate the support and flexibility.
Keep up the good work.

There are many like myself waiting to make a final decision as the whether to bother. I knew they would extend and I sure there are many like me. If there are still many who have not regeistred by mid June I wonder what they will do then? I am leaning on not bothering. Are there any lenders who wont accept non membership now?

After 16 years in this business nothing changes. Typical broker comment. Let's get rid of the MFAA! I didnt hear too much of that when they were lobbying in Canberra (and still are active with tier 2 of the regs yet to come from ASIC)Just look at Financial Planners and consider you would be completing Advice Statements holding 2 meetings with every client and printing 120 pages every time you met with a client if the so called useless MFAA had not worked with both sides of politics over the last 4 years to get the changes to our legislation that have minimed what we need to provide and recognised that mortgage broking is very different to Financial Planning.
The question is are you a professional or just another back yard operation? Qualification is the only way the standard can be raised in this business. As they say 'can't stand the heat get out of the kitchen!'and no I am not a board or committe member of the MFAA.

Meh - did it under RPL and it cost quite little in terms of time and or money, but still - why set these deadlines just to be pushed back time and again - It's just a bad look...

Fair crack of the whip guys, the MFAA is dong a great job, just finished the Certifed Mentor Program and belive they're on the right track with that. We need to keep raising the bar, if we don't do it voluntarily then those with teeth will do it for us. Get on board, lift your game and cut the whining.

Brokers should always be united. MFAA has done good in securing funding for the course but failed in delivering it fairly and equally to every broker who complete the course regardless of timing. MFAA proves to be a constant failure in supporting brokers

It about self preservation. Many brokers were going to jump the fence. MFAA had no right to impose this unnecessary impost on the industry as we already have Mr Goose and co stuffing eveything for the whole nation.

There was no surprise here for me, I registered but have not done it as I was pretty sure that the MFAA couldn't afford the down turn membership, lets face it if Aussie and MC didn't force their members to join, take out the lenders and the last 3 brokers left would have been pretty lonely. It was always going to be extended just a pity it took Mr Naylor so long to announce it. Anyone want put up some odds on the deadline being extended again?

Yes indeed.

Some say "The MFAA is a toothless tiger" or is "irrelevant" - except when it successfully lobbies Canberra on behalf of us brokers, borrowers and lenders.

Then brokers think these positive outcomes happen as a matter of course, or perhaps due to the FBAA's efforts.

Fools.

The qualifications are part of the profession - the cost overall was marginal. However a deadline is a deadline. The plane will leave without you, why shoul;d those who have done the right thing have to "wait" for the others to catch up.

Seems to me like we are heading towards the mediocre not the professional.

i for one will be voting with my feet.
i will not be renewing my membership with the MFAA this year. i have been with them now for several years, i no longer see the point.

It is interesting feedback and reinforces what I had felt also. The MFAA continues to prove itself as a toothless tiger, considerably out of touch and essentially filling no role whatsoever. With licensing it is now time to dispense with this unnecessary layer.