MFAA announces new loan calculators for members

by Julia Corderoy27 Nov 2014
The MFAA have launched new online loan calculators for members to upload to their websites. The association has developed twenty different options covering both residential and commercial sectors, which aim to assist in not just driving consumers to a broker’s site, but also keeping them there.

The calculators will be available for $99 per year, which the MFAA says represents a considerable saving as many members are currently paying between $400 - $1,000 per year for an online calculator.

Stephen Hale, Head of Marketing at the MFAA says this is part of their commitment to work with members to increase the value of the services they provide to help members better their business.

“The service provider was well referenced and has built similar suites of estimation tools for both lenders and an industry regulator. We have checked the calculators with key broker representatives who approve of the option in this first release,” he said.

The calculators are available now and over a hundred members have already started to use them. All members have to do is sign a letter of agreement with the MFAA and then they will be issued with basic HTML code to embed onto their own websites. Each calculator has its own code so brokers can mix and match to suit the nature of their business model.

The MFAA also offers free marketing support to assist brokers on getting these loaded onto their sites.

“This is really great news for members as ‘mortgage calculators’ ranks sixth in keywords for Search Engine Optimisation and Pay Per Click in the mortgage industry, according to Word Stream” said Emily Watson, MFAA Digital and Social Media Manager.

“This is just another way we’re helping members get a real grasp of the digital space for their businesses so that they can continue to grow successfully,” she said.



  • by Incognito 27/11/2014 12:14:44 PM

    Why does an online widget cost $99 per year? They only need to build it once and give it to us all. I don't pay a subscription for my battery operated hand held calculator.

  • by Broker 27/11/2014 12:39:29 PM

    So is this the new and improved direction of the MFAA, flogging dime a dozen products that no one really needs?

  • by Stephen Hale MFAA 1/12/2014 7:43:21 AM

    We are surprised at the negative comments when the members have been signing up for these in large numbers. Many were paying between $400 - $1000 per year so the feedback has been nothing but positive due the saving that these 20 calculators offer. The fee pays for the up keep and updating based on any regulatory changes. Each of the twenty are coded so that brokers can load on to their site and keep the customer on the broker platform and was requested by our members which is why hundreds signed up within a week! Sorry that either Broker or Incognito see no value but you are in the minority.