The MFAA has suspended its second member in as many weeks as it attempts to rid the industry of fringe brokers.
Peter Hinck of Victoria was suspended after submitting three loan applications on behalf of clients he’d never met or spoken to.
Phil Naylor, MFAA CEO, said: “The message is clear – do the wrong thing and you will be dealt with”.
By ridding the industry of fringe brokers Mr Naylor said consumer confidence in the channel would improve.
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