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.
Are you concerned about increasing MFAA expulsions or should the association take a tougher stance? COMMENT HEREExtracts of comments may be used for publication in the online and/or print versions of Mortgage Business.
Who do you aggregate through?
Thank you for your vote, you can see the results here.
Mortgage Choice has announced that Citi’s former head of bankin...
The major bank has announced that it will extend the maximum loan...
Credit growth has waned as a result of a sharp drop-off in busine...