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MFAA calls for 'approved broker' push

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Australian Broker | 13 Sep 2011, 06:00 AM Agree 0
The MFAA has called upon brokers and industry members to push its MFAA-approved broker campaign as a benchmark for consumers
  • Broker | 13 Sep 2011, 08:39 AM Agree 0
    The vast majority of clients have never even heard of the MFAA..
  • Ozboy | 13 Sep 2011, 09:02 AM Agree 0
    Yes great idea but if you want real traction Mr Naylor I would suggest that come out publicly and ask the lenders to add it to their extensive advertising campaigns. We see occasionally lenders who add "or see your mortgage broker" imagine if they said "or see your MFAA Approved Broker". You would have a far better chance of getting them to buy in given your strong links with lenders and it would be a winner for everyone, the consumer would have a better chance of seeing it, MFAA would get better penetration and exposure and brokers would get a clear indication of which lenders REALLY support them. This would also allow lenders without deep pockets to show their support without having to support the MFAA with cash as adding a line or logo in advertising would result in a minimal cost outlay. Is the MFAA up to the challenge?
  • Nicki McDavitt | 13 Sep 2011, 10:38 AM Agree 0
    What a complete waste of MFAA members money. Are they so concerned about the FBAA? I cannot see why he would be pushing this angle and waste of money on MFAA Approved. ASIC has approved me and that is more important and has more grunt than anything the MFAA says or does.
  • Sally | 13 Sep 2011, 12:18 PM Agree 0
    Once again, the MFAA has to almost beg the broker to educate the client as to what is important to the MFAA but not what the client cares about. They don't understand the borrowers out there don't care about the MFAA just the same as the brokers don't care. Only you care. ASIC regulates the broker now, you had your chance and blew it.
  • Ozboy | 13 Sep 2011, 01:17 PM Agree 0
    I think the MFAA is still trying to find it's place, you have the new President Elect coming out saying that the MFAA is needed by brokers to lobby on their behalf and then you have Mr Naylor coming out saying we should be helping to educate the consumer about what they stand for. Yes I know that they could stand for both but judging from the above comments and what other brokers have told me it would appear that at best it's a mixed message at worst an organisation with no leadership of clear vision.
  • ME | 13 Sep 2011, 02:05 PM Agree 0
    I for one don't understand the constant MFAA critism. I think its unwarranted. Vent at your lender partners not the MFFA they cant be expected to really have any sway with the lenders. It's a one way steet as we all know. On that note does anyone else think it odd that lenders are fighting tooth and nail at the moment discounted all over the place but none have stepped up to the plate to significantly increase commissions? They could really get some broker business if they wanted it.
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