I am interested to see what other Mortgage Brokers, and anyone for that matter, think about the Mortgage Industry Association of Australia (MIAA), the Finance Brokers Association of Australia (FBAA) and the newly formed Australian Institute of Mortgage Brokers (AIMB).
I have found that the MIAA represents Lenders, Aggregators and large Oriinators before Mortgage Brokers even though they always list Mortgage Brokers first when they describe who they represent.
The FBAA, in my opinion, only adequately represents Mortgage Brokers in WA. They seem to be disorganised, poorly informed and poorly represented outside WA.
The AIMB is a dictatorship started by Mr Reibelt, former FBAA head. They do whatever he decides without input from Mortgage Brokers.
I am toying with the idea of starting a new organisation that only permits membership by Mortgage Brokers. I would think that what is most important is centralised information, scenario discussion facilities, cheaper compliance and education and a solid lobby group going into bat for Mortgage Brokers.
Any input would be much appreciated or if you know anyone else starting such an organisation that I can join, I would like to know about it.
I look forward to hearing your responses.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Robert,
I would have to agree with you.I’ve found that the MIAA has taken control of most of the lenders when it comes to training and accreditation etc. It is now at the stage where you can’t get accredited with a lender unless you are a MIAA member.
We had a deal the other week which 99% of the lenders wouldn’t do. We eventually found a lender that would do it, but we weren’t accredited with.
When we contacted them they said we would have to do their accreditation program and unless we were MIAA members we would not be accredited. We are MIAA members, but I think this stinks as I don’t think we should be forced into MIAA membership.W: pfsfinance.com.au
E:[email protected]
E:[email protected]Best Investment package
Owner occupied 4.49%
Investment 8.24%We are being dragged back into the days of compulsory unionism as far as I am concerned but we are not getting the representation. They just take our money!
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
I really think we need a industry body just for brokers. We would definately be interested.
W: pfsfinance.com.au
E:[email protected]
E:[email protected]Development Finance Specialist
That ia very good to hear. I will see what pans out.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
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