Forum Replies Created
I don’t disagree with that but why give up trail so cheaply?
I know lots of brokers who would have virtually been out of business with the downturn last year but for the trail coming in.
Michael Houston
FintrackMichael Houston
Fintrack
0412 116 099Fintrack here again – sorry about the delay but I’ve been away.
My points about broker fraud and ASIC is that all aggregators have experienced problems but the Lenders have double standards – no one takes action against AFG or Mortgage Choice.
We do not have compulsory training and we do take brokers with less than 2 years experience.
With any franchise you should be very careful about the time you sign up for as you are stuck with them and invariably lose your trail if you leave.
The point already made about the set up costs of a franchise is very well made – you have to pay for the franchise, pay to set up a shop (usually in expensive rental areas), pay for staff etc – all before you sell a loan.
Better to start slowly on your own from home and build up.
The 120% aggregator I know and they only pay upfront, no trail. Surely trail is the whole point of the exercise?
Michael Houston
Fintrack
0412 116 099Michael Houston
Fintrack
0412 116 099I am from Fintrack – please get your facts right. We were terminated by one lender because of a Broker fraud which is subject to litigation (despite the fact that other large aggregators have not been for the same reason).
Our ASIC problem is well documented yet one lender decided to terminate us but didn’t do the same when Mortgage Choice had their more serious problems.
Notwithstanding this we anticipate being back on both panels in the next month or so.
Training is not compulsory but we request new entrants undergo some form whether ours or others.
We help new people as it seems no-one else wants to.
We offer full support plus 100% upfront and 100% trail for $100 per loan plus GST.
Michael Houston
Fintrack
0412 116 099
