“In short, without mortgage brokers, finding a home loan would be harder and more expensive for all Australians.” Mike Felton, CEO MFAA

The Royal Commission has signaled changes that could threaten my business.

Our industry faces potential policy changes that could make the mortgage broker channel unsustainable, drastically reducing competition, choice and access to credit in home lending, while delivering a windfall for major banks.

As Treasury noted in its submission to the Royal Commission’s Interim Report, ‘if mortgage broking activity diminishes, this could have a significant detrimental impact on competition in the mortgage market. The potential beneficiaries of any lessening of competition would be the major banks with established branch networks’. 

“In short, without mortgage brokers, finding a home loan would be harder and more expensive for all Australians.” Mike Felton, CEO MFAA

So the MFAA and it’s industry partners have launched Don’t Kill Competition, an integrated national advertising and advocacy campaign of public relations, government advocacy, mass media and digital advertising, and grassroots customer activation.

To show your support and keep the Mortgage Broking Industry alive, click this link.