Competition cannot be left to chance, says CEO

by Calida Smylie20 May 2014
The Mortgage and Finance Association of Australia annual national conference is all done and dusted, with initial reports putting attendee numbers at around 600.
CEO Phil Naylor – who at the conference announced he would retire from the position at the end of this year – said all the feedback he has received is that the Gold Coast event was an “outstanding success”.
“We’re still collating final details but we had about 600 delegates at the conference part of the event, with around 1500 involved at the expo. Some 800 attended the final gala dinner,” he told Australian Broker.
The MFAA has a membership of 10,336.
At the conference, Naylor said MFAA wants to demonstrate they are voice of industry professionals by lobbying government more – particularly to increase market competition.
“Competition in the lending sector needs to be fired up and we’re convinced there needs to be a strong securitisation sector to do that… Innovative to me is ongoing. We need a strong broker channel and securitisation market to increase the competition.”
This cannot be left to chance, he said.
MFAA also wants to encourage the younger generations into mortgage broking. The association has retained 93.4% membership over the past 10 months, with Naylor putting those leaving down to retirement.
“That’s the thing that MFAA has to address – how to replace these people,” he said.
The association has launched a new mortgage and finance traineeship with the NSW government, which is focused on schoolchildren in year 11 and 12.
“Over time some will be interested in becoming a mortgage broker – they are potentially our future workforce. This is not the only way we’re targeting this, but we hope it will help,” Naylor said.
President Tim Brown said last week that MFAA wants to support and promote brokers while enhancing professional skills. He said the association is doing well in some areas but needs to work harder in others.

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