Dwayne Brittain: Transforming mortgage leadership

Leading with insight, enhancing relationships and operational efficiency

Dwayne Brittain: Transforming mortgage leadership


By Mina Martin

In a field where relationships and efficiency are paramount, Dwayne Brittain stands out as a leader whose innovative approaches and insightful leadership continue to shape the mortgage broking industry.

Introduction to a successful broker

Brittain (pictured above), owner and director of Mortgage Choice in Wantirna, Eltham, and Boroondara, as well as Live Well Financial Planning, began his journey in mortgage broking in 2012 after a 12-year stint in a corporate role. His desire to return to relationship management within the finance sector led him to revive a dormant Mortgage Choice business, leveraging his skills to cultivate a thriving venture.

Transformative changes in the industry

According to Brittain, the COVID-19 pandemic proved to be a catalyst for positive change within the mortgage broking sector.

“As crazy as it sounds, I think COVID was a positive game-changer for mortgage broking,” he says.

The shift towards digital documentation and remote client interactions not only streamlined operations but also introduced efficiency by cutting down unnecessary travel for face-to-face meetings. He also highlights the introduction of specialised roles like loan packager and loan analyst as significant advancements that have enhanced service delivery and operational efficiency.

Current challenges and proposed solutions

Despite the growth and improvements, Brittain acknowledges ongoing challenges such as managing profitability and dealing with policy issues like clawbacks and net of offset adjustments.

He proposes the elimination of clawbacks for loans cleared through property sales or transfers, and suggests a monthly review of net of offset, which would improve financial management for brokers.

“It is simply an argument the lenders cannot justify,” Brittain says of the current annual review process.

Lessons from experience

Brittain recounts a memorable challenge during a rapid growth phase in his business. The experience of nearly losing control after expanding his team taught him the importance of creating a sustainable business model that does not solely rely on his constant presence.

“Instead of measuring my business success on settlement volumes or net profit, I measured it on ‘how long would the business survive without me in it,’” he says.

This shift in strategy enabled him to enjoy prolonged vacations and ensure the business’ stability.

Advice for aspiring brokers

For those looking to enter the mortgage broking industry, Brittain emphasises the importance of commitment and building a solid reputation early on. He offers practical advice for newcomers: prioritise face-to-face meetings, perfect your meeting introduction, surprise your clients, assume you will secure their business, and hire before you feel fully prepared to handle additional workload. These strategies, he suggests, are key to building a successful broking career.

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