Brokers to meet the challenge

MBA chairman Rob Tucker says the industry is facing a number of challenges including technology issues, such as brokers filing electronic loan applications, changes in how the banks approach brokers, legal issues and changes in the market generally.

The MBA is also looking at broadening its membership base to give it a greater representation of intermediaries, Tucker says.

He’s thinking of reorganising the association more along the lines of the Australia-based Mortgage Industry Association of Australasia which represents the mortgage industry as a whole. All the banks are already members of the MBA.

"We want to increase their input and ability to deal with the industry," Tucker says. In particular, he would like to increase the professionalism and efficiency of brokers through education programs for which the banks’ help is needed.

Tucker attended the MIAA conference on the Gold Coast last month and was so impressed with one of the speakers, Chris George who runs a major US broking business called CMG Mortgages, that he’s hoping George will be a speaker at the New Zealand conference.

The MIAA conference had attracted 650 delegates, including a fair number of New Zealanders, Tucker says.

The MBA will be running its Mortgage Broker of the Year award again after its successful launch last year, although with a few changes. Last year, a considerable about of trial and error was involved. This year, the country will be broken into nine regions, each of which will chose its broker of the year to go through to the main event. "We want to get to as many potential winners as we can," Tucker says.

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