Poll: Advise the ACCC on making MFAA mandatory

by BN13 Dec 2011

The ACCC is in the midst of a review of lender requirements that in some cases make MFAA membership mandatory.

At the moment, the likes of Aussie, ING Bank, Virgin Money and Mortgage Choice have in place notifications requiring brokers dealing with the companies hold MFAA membership.

Should these requirements be allowed? Yes or no? Have your say here!

COMMENTS

  • by PC 30/11/2011 11:18:48 AM

    NO.It should be the brokers choice as to which Association they join.

  • by Rick V 30/11/2011 11:20:54 AM

    As there are now licences there is no need to have mandatory MFAA membership, and lets face it there is almost no need for the MFAA full stop.
    This is a breach of ACCC laws and any lender requiring mandatory MFAA membership should be slapped on the wrist or prossecuted under the act. The MFAA is no longer necessary they pushed for licencing they got it, now they are irrelevant, not that they were very relevant in the first place.

  • by Wayne 30/11/2011 12:41:31 PM

    No, it's "third line forcing". As a licensed broker it should be my right to chose my representative body and not have a lender choose for me. If the lenders want to put minimum standards in place for education and PD then that's fine but not "third line forcing".