MFAA reveals board changes

The Mortgage and Finance Association of Australia has appointed three directors to its board



The Mortgage and Finance Association of Australia has appointed three directors to its board, following the nomination and election process: new director Scott Bolton, and two re-elected directors Donna Beazley and Tim Donahoo.

Bolton has more than 10 years’ experience in the industry, and has been a director of his own company for 25 years. He was an MFAA NSW/ACT Counsellor from 2009-14. Currently, he serves as franchise principal for Aussie Home Loans and president for the local ACT business network group.

As a mortgage broker, Beazley was involved in NSW/ACT State Forums for many years prior to her directorship. She is also part of the Farm and Aggregator Committees, and serves as credit advisor at Oxygen Home Loans. She has more than 20 years’ experience in the finance industry.

Donahoo joined Mortgage Choice in 1999, and now serves as head of compliance. He has been an MFAA member since 2002, and was elected to the Board in 2014. He is part of the Finance and Risk Management Committee and acts as liaison director for the Forum of State Presidents and the Compliance Forum.

“We’re delighted to welcome Scott to the Board. Having run his own businesses, as well as franchise operations for Wizard and Aussie, he has a breadth and depth of experience that will add significant capability as a director,” said MFAA chairman Cynthia Grisbrook.

She continued: “As directors, [Donna and Tim] provide us more than 50 years’ combined experience. They will be a critical part of the sustained success of the MFAA and our industry in the future.”

The announcement of the new board members came a day before the association stated that Chairman Grisbrook had conducted a second in-depth briefing with Hon. Michael McCormack MP, Minister for Small Business. The subject of the second meeting was the current key issues in the mortgage industry as well as the support provided to Australian small businesses by MFAA members. Local Riverina MFAA member Ian Robinson was also part of the meeting.

In a statement to the MFAA’s members, Grisbrook said she discussed the industry’s role in supporting small businesses in rural and regional Australia, which has been crucial given the contraction of retail banking in these areas. She also promised MFAA’s continuing collaboration with ASIC to address industry issues, and stated that changes to remuneration models may threaten the viability of small broking businesses and the numerous small businesses dependent on them.

Following the meeting, the Minister promised to consider attending an MFAA event in 2017 to meet other members and continue the discussion.

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