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U-turn on banking system possible, says Naylor

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Australian Broker | 10 Aug 2012, 08:00 AM Agree 0
The MFAA is hoping its four-year campaign for a banking system overhaul is at an end, after indications of a potential government U-turn
  • Incognito | 10 Aug 2012, 10:32 AM Agree 0
    This is important work and I am happy to be a contributing member of the MFAA.

    Four years in a row at the senate hearing - well done Phil.

    Free riders who dropped out of the MFAA (for whatever reason) should get back on board, Lets go.
  • Larz | 10 Aug 2012, 10:33 AM Agree 0
    Well done to the MFAA. This is exactly what an industry association should be doing to assist members. Better than golf days.
  • Patrick | 10 Aug 2012, 10:41 AM Agree 0
    The more things change the more they stay the same. We used to have government guaranteed securitisation, it was called HLIC (Housing Loans Insurance Corporation) and its mortgage insurance underwriting was guaranteed by the Commonwealth. The baby got thrown out with the bathwater.
  • rob | 10 Aug 2012, 10:58 AM Agree 0
    its all hot air.
  • Country Broker | 10 Aug 2012, 11:18 AM Agree 0
    Well Done to Phil Naylot and the MFAA lobbying Team , this is essential work for our industry and one real reason why we shoud belong to OUR professional body.
    Partick is spot on with his comments about the HLIC. I will not hesitate to renew my MFAA membership .
  • Sally | 10 Aug 2012, 11:34 AM Agree 0
    How about putting out an article with a result, not just Phil saying he thinks this time he has their attention. How many times has Phil Naylor said the MFAA is doing something, only to find it never happens. Seriously, go back and read all the articles about Phil Naylor and then correlate them with successful outcomes. Oh, I'll save you time. There are next to none.
  • Incognito | 10 Aug 2012, 01:02 PM Agree 0
    First they say MFAA do nothing.

    Then they say MFAA do something but it's not important.

    Then they say it's important but should have been done years ago.

    (take note rob, sally and other free riders)

    Stay the course Phil. The majority back you.
  • Positive Broker | 10 Aug 2012, 01:34 PM Agree 0
    Well done Phil, I am the first to question what MFAA does and whether it is worthwhile, but seriously! I would hate to think where we would be and what NCCP would look like without them. At least Phil and his team are trying to do something.
  • Sally | 10 Aug 2012, 01:59 PM Agree 0
    We'll see, Incognito (?)
  • iMac | 10 Aug 2012, 02:03 PM Agree 0
    Incognito's enthusiasm sounds remarkably like he might be, say, MFAA management ?
    Its taken Phil 4 attempts to even get their attention ? Imagine how long it'll take him to actually acheive something.
    Phil you talk The Talk, But you never actually walk The Walk.
    It all just adds credibility to the widely held suspicion that the MFAA supports the the Big Four, at the cost of brokers.
    The sooner brokers support alternative industry bodies the better off brokers will be.
  • Incognito | 10 Aug 2012, 03:01 PM Agree 0
    No no, I'm just a broker.

    But what they do is a long, complicated and thankless task with powerful forces to overcome.

    So I appreciate their work as I couldn't do it - I'd rather just pay $400 and write loans.
  • Larz | 10 Aug 2012, 03:15 PM Agree 0
    iMac how can you say that " It all just adds credibility to the widely held suspicion that the MFAA supports the the Big Four, at the cost of brokers."
    How can trying to increase competition support Big Banks and harm brokers. I must be missing something but as a broker the more compoetition there is in the market the better.
  • Cate | 11 Aug 2012, 09:37 AM Agree 0
    Well Imac - you're not even talking the talk. At least Phil is trying to do something =what are you doing to change things? It's others who aren't walking the walk
  • Tom | 13 Aug 2012, 10:35 AM Agree 0
    All you brokers who are happy to pay for the MFAA membership, good for you. The rest of us don't believe all this fanfare and hot air so I have invested my money in FBAA thankyou.
  • Juniper | 13 Aug 2012, 02:21 PM Agree 0
    Due to the potential conflict situation with the Big 4, I joined FBAA 8 years ago, and it was the best decision of my life!
  • Steve McClure | 14 Aug 2012, 01:59 PM Agree 0
    I'm happy to publish my name, and support Phil Naylor's efforts. He has represented our interests in a senate hearing - who else has been able to do that? I've criticised the MFAA on specific issues, but he's always responded very well.
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