TALKBACK -- Industry comment on www.theadviser.com.au

Everyone has an opinion, and some people feel compelled to speak out. Here are just a few comments prompted by daily news broken on www.theadviser.com.au over the last month.

ON NAB PARTNERSHIPS RESTRUCTURES, LAWLER EXITS...

Matt Lawler has performed the task many could not, and that is take Homeside/NAB to the next level. Matt has been a strong supporter of the MFAA and broking in general; I am sure NAB Broker will be benefiting from the platform he has helped created for many years. Barry Elmslie

ON FUNDING COSTS HURT BORROWERS...

I agree with Aussie's chief executive officer Stephen Porgess that funding costs are hurting borrowers. For example, if a customer approaches too many lenders to see if they fulfil their requirements, they are often penalised for having too many enquiries in the pipeline and are declined by the credit scoring. Unfortunately, shopping around for the best deal can cost clients their home. Credit scoring uses statistics from several years, which I assume does not factor in the current situation of cherry picking, so in many cases, the banks' decision to decline a customer would be unfair. When you have a client go to a bank and that branch does three checks in one day or five within a month, you wonder what is happening. Obviously going to a broker can potentially reduce that number, especially if we go to the Homeloans or AFM mortgage type companies who only do the one check for their panel. Allan Faint

ON SMARTLINE PARTNERS WITH AON FINANCIAL PLANNING AND PROTECTION TO HELP BROKERS DIVERSIFY...

Most brokers don't have the skill set to provide advice on insurance. Even if they meet the minimum requirements by completing the appropriate course, providing advice on insurance is even more complex than home loans. I think most brokers would agree that to become a decent broker you cannot just complete the Certificate IV. To be any good takes years of experience as well as appropriate qualifications. Unfortunately, I think this will simply unleash a heap of unskilled salespeople on the public with no real skill set. Alex Warren

ON AUSSIE USES ORIGIN TO SLASH SVR...

Why is this such a great deal? Aussie's standard variable is 7.19 per cent; with 0.3 per cent reduction it will be 6.89 per cent (if NSW score 30 points). Without NSW scoring a point, ANZ will offer 6.71 per cent or Suncorp 6.74 per cent. This is only a marketing exercise with no real substance behind it. John Whitten

ON AGGREGATOR OFFERS BROKERS STAKE IN COMPANY...

Some eight years ago I asked my aggregator if I could ‘buy in' somehow, not only as a profitable venture for myself but also as a loyalty thing. I thought if this was also offered to other brokers it would stop brokers from moving between aggregators - they would have a worthwhile reason (holding a vested interest) to stay and make sure the aggregation platform was excellent. My offer was rejected then. This is indeed an interesting time in the industry. Linda McIntyre

ON MFAA ROLLS OUT NEW LOOK, NEW LOGO...

Perhaps the MFAA should be concentrating more on doing things for the broker rather than inventing another logo... This group is meant to support their brokers but it would appear that the banks dictate to the MFAA in regards to cutting broker commissions and the MFAA doesn't even query it. Brokers are out of pocket and not the MFAA who has no problems charging us a fee every year but demands that we become more professional by spending our own money on personal development. David Shipp

We have never received a deal from being a MFAA member and I doubt that will change because of a change in logo and some idiotic campaign. Meanwhile they do nothing to stop lenders hacking into our commissions and setting minimum benchmarks. How about you spend $.4 million doing something FOR the brokers that you are supposed to represent? Dorian Traill