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New MFAA directors reveal focus for future

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Australian Broker | 25 Nov 2013, 06:40 AM Agree 0
Three of Australia’s leading mortgage and finance industry professionals have been appointed this week to the board of the MFAA.
  • Malcolm | 25 Nov 2013, 09:59 AM Agree 0
    I'm sure they are all nice people however where see the heavy hitters and true industry leaders? MFAA doesn't seem to attract them these days.
  • First things | 25 Nov 2013, 10:00 AM Agree 0
    First thing would be to ensure membership is not compulsory - given we now have licencing. eg CBA insistence that you still must be a part of MFAA or FBAA to lodge deals. Make it up to the individual if they 'want' to join, and the 2 groups will get better 'but-in' from the members they attract.
  • dpathle | 25 Nov 2013, 10:43 AM Agree 0
    I just had a look at the financials for the MFAA for 2013 and if this was a business I was in control of, I would hold my head in shame. I did not know this, but the MFAA spend more on their own wages and events ($6mil approx) than they do on Development and education of their members ($355k). They actually made a loss, which was a difference from expectations of $180k! One terribly run business when you look at the financials.
  • Rodger | 25 Nov 2013, 12:49 PM Agree 0
    MFAA finances have consistently been a mess. it was only all the money they gleaned from brokers during the education and licensing phase that saved their bacon. Now we are largely through that it's "business as usual" at the MFAA. Guess why I'm not a member? I support the alternative. and happy to do so.
  • Broker | 25 Nov 2013, 01:48 PM Agree 0
    I agree 100% with Rodger and dpathle comments , which is why I am also a member of the alternative and refuse to pay fees to this organisation

    MFAA need to add a "what have we done for brokers recently - to their agenda" as all they ever appear do is serve their own interests, at their members expense.
  • Old Joe | 27 Nov 2013, 03:19 PM Agree 0
    The only time I hear from this mob the MFAA is when the annual fee is due. Look let them have it for a few more years and then lets see what happens. Where is the development strategy. the industry cannot attract new entrants.
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