More than 130 brokers sign up for MFAA SMSF lending accreditation

by AB16 Oct 2013

More than 130 Australian credit advisers are now in the MFAA training program to obtain their MFAA SMSF lending accreditation, as the SMSF property investment sector continues to grow.

 “We are very pleased that so many brokers and their firms have signed up to the training program for SMSF lending, as it represents a great opportunity for ambitious operators to expand their range of expertise and scope of service,” says MFAA CEO, Phil Naylor.

As a ‘bonus’ to the members who join and complete the program, the MFAA is also offering a free SMSF trust deed and bare trust for the use of the member or their members’ client.

“More than 3,000 SMSFs are being established each month in Australia and, with the proper training, mortgage brokers have the opportunity to deepen their relationships with clients through managing the process of gaining a loan for clients’ SMSFs.”

The association estimates that direct property investment of SMSFs now makes up more than 10% (worth $50 billion) of the 500,000 SMSFs in Australia.

Some of the high profile brokers to have joined the program include 2013 MFAA Mortgage Broker of the Year, Ruan Burger, principal of Time Home Loans in Brisbane; Justin Doobov, managing director of Intelligent Finance and Brett Abikhair, co-founder of The Selector Group..

The training program involves a series of modules using a combination of audio and video sessions, assessments and learning checks, case studies, course notes and hand-outs and ending with an optional workshop. Completing the program requires an average commitment of about 20 hours.

COMMENTS

  • by not so old broker 16/10/2013 10:09:25 AM

    20 whole hours and I get a nationally recognised qualification. Where do I sign up - not! This is the face of cynical money grubbing, when the industry is under scrutiny for the lack of proper advice already. What were they thinking?

  • by chrisc 16/10/2013 10:13:45 AM

    we already hold accreditations with the Lenders for SMSF lending and have been doing these types of loans for a few years now - well not so much resi but the commercial ones that are feasible. what extra benefit will we obtain by doing a separate MFAA course and if this is completed does it replace having to sit the SMSF accreditations with each lender thereafter.

  • by The Oracle 16/10/2013 10:24:39 AM

    Gaze into the crystal ball...... I see Lenders needing to see the Brokers SMSF Accreditation Certificate before they will allow you to submit deals..... (remember the old days of SEQUAL & reverse mortgages.....)