Former MPA Top 100 broker Mario Borg is set to return to the mortgage industry with a new mentoring program for new-to-industry brokers, following his recent business sale.
Borg, who is partnering with the former co-owner of broker group Members First, Andrew Tan, will start a sub-broker group called Masters Broker Group offering a 2-year mentoring program.
Having recently graduated as an MFAA Certified Mentor, Borg said Masters Broker Group would offer a 'first-class' mentoring program providing a step-by-step success road map for new entrants.
"This will clearly fill a void in our industry," Borg told Australian Broker.
"Our Master Class has been designed with the comprehensive structure and theory included in the MFAA Program. Our difference is we have boosted the mentor program by injecting over 30 years of know-how, skills, knowledge, tools and tips that we have used in our own highly successful businesses," he said.
Borg said his decision to begin the mentoring business was a result of a continued passion for the mortgage broking industry, as well as being a good new business opportunity.
"I was once a new entrant into mortgage broking and I know from firsthand experience what the challenges are and what it takes to kick serious goals," he explained. "I now want to give back to an industry that has been so good to me both personally and financially," he said.
With the advent of NCCP, Borg said it has become critical that the industry source new broking talent.
"NCCP scared a number of brokers away and resulted in a number of exiting brokers, at the same time mortgage broking is attracting a new breed of person, which is positive," he said.
"Banks and lenders are screaming for quality submissions that adhere to their policies, and consumers want ethical advice to ensure they don’t get themselves in trouble. I want to source a new pool of talent and provide the necessary guidance to address some of the issues facing our industry, to improve the quality of submissions and the quality of customer experiences."
The business' first intake will occur in June, with monthly workshops limited to 10 individuals. The business aims to run at least 10 workshops per month within the first 18 months.
"I love this industry and I truly believe in the value proposition it offers the consumer," Borg said. "Choice dictates the demand for a mortgage broking service, and I believe this demand will continue to get stronger over time."
Borg was formally ranked 24 in MPA's Top 100 for writing over $65m in loans in his Mortgage Achievers business, which he successfully sold. Andrew Tan's business Members First sold to aggregator Ballast last year, with a loan book of $2bn.
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