The MFAA is the peak nationl body providing service and representation to 9,500 professionl credit advisers. This year, the MFAA terminated the memberships of 1,100 broker members this year according to the Australian Broker Issue 10.07 All loan writing members must have successfully completed the Diploma in Financial Services or equivalent to continue their memberships with MFAA. MFAA continues to raise the bar for industry standards for mortgage brokers, which is why using an MFAA accredited mortgage broker is so important. Wilson Financial are accredited members of the MFAA and have been for over a decade now. Member number 8848.
The MFAA said all members were reminded of the requirements 'many times' over the last 12 months, following the national board's decision to actively demonstrate that members have high standards of professionalism and qualifications with consumers and regulators.MFAA CEO, Phil Naylor, said the organisation is both pleased and 'not surprised' that more than 88% of its members are now qualified, with expectations that many of those whose membership has been terminated will seek to have it reinstated within the next two months by providing evidence of the required education qualifications.
The lesson here is to ensure you are using a MFAA accredited broker. Wilson Financial recognizes the other governing body the FBAA as an alternative to MFAA.
The MFAA said all members were reminded of the requirements 'many times' over the last 12 months, following the national board's decision to actively demonstrate that members have high standards of professionalism and qualifications with consumers and regulators.MFAA CEO, Phil Naylor, said the organisation is both pleased and 'not surprised' that more than 88% of its members are now qualified, with expectations that many of those whose membership has been terminated will seek to have it reinstated within the next two months by providing evidence of the required education qualifications.
The lesson here is to ensure you are using a MFAA accredited broker. Wilson Financial recognizes the other governing body the FBAA as an alternative to MFAA.
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