Australian Broker forum is the place for positive industry interaction and welcomes your professional and informed opinion.

BREAKING: MFAA heralds support for ASIC crackdown

Notify me of new replies via email
Australian Broker | 23 Jan 2014, 11:09 AM Agree 0
The MFAA has heralded its support for a recent wave of ASIC bans
  • Brian Hastings | 23 Jan 2014, 11:41 AM Agree 0
    I cant believe that Naylor feels the need to say": It is a shame that a few bad apples are bringing the mortgage broking industry into disrepute "" the Industry is in good shape with a sound history....stick up for us in a much stronger way MFAA
  • Brisbane Broker | 23 Jan 2014, 11:59 AM Agree 0
    MFAA only support banks not brokers.
  • Peter M | 23 Jan 2014, 12:11 PM Agree 0
    If you do the sums in percentage terms not a lot to scream about MFAA. If the Banks were open to the same scrutiny it would be interesting to see how many officers would need to retire?
  • Mick | 23 Jan 2014, 12:16 PM Agree 0
    Err... Really??? What about
  • VIC Broker | 23 Jan 2014, 12:32 PM Agree 0
    As said many times by many brokers earlier : ***How about BANK staff?***

    It's very unfair of this industry on how ASIC only points their guns to brokers but leave the banks who own 60% of market share in the shadow! And then for 8 out of 11000 honest hard working brokers they called it "unacceptably high" (!).

    Thanks ASIC (no you're just not good enough)!

  • Broker | 23 Jan 2014, 12:38 PM Agree 0
    One set of rules for Brokers, another set for Banks . MFAA you are a complete waste of space, it is time that you stand up for your members ( thankfully I'm not one) and put this ASIC spin into perspective. What next ASIC grandstanding on A Current Affair??
  • Nigel Smith-Jones-Brown | 23 Jan 2014, 01:17 PM Agree 0
    MFAA = Waste of Space.
  • Country Broker | 23 Jan 2014, 01:22 PM Agree 0
    Oh Dear Phil , yes give your support and yiur positive comments BUT comment on the fact i8 out of 11,000 is not a high number in the whole scheme of things , and certainly not a trend , protect your honest hard working brokers please.
    Also who is going to take on the mobile lenders and very poor practices of the branch staff , Instance I know of a case where it was suggested that a person who is on permanent disability pension was joined with his sister ( his carer) carers pension to "give the loan capacity" due to his income. He HAS AN ACQUIRED BRAIN INJURY ! Deal did not go ahead as the sister had a credit issue.
  • Sandy from the West | 23 Jan 2014, 01:41 PM Agree 0
    Yes there is no disagreeing that it's good they have sorted a minute number of unethical brokers. However this has been highlighted grandstanding for political reasons for ASIC'S and Peter Kells survival/justification. MFAA have played into their hands failing to address the anomalies of ASIC and the villains in the banking system. This is a game of spin by ASIC with brokers on the short end of the wish bone with the continuing negative news
Post a reply