Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
FBAA to review broker commissions
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

FBAA to review broker commissions

Reporter 1 minute read

The FBAA is set to conduct a review into the remuneration structures for mortgage brokers overseas to prove that the commissions paid in Australia are fair.

With the results of ASIC’s review into broker commissions not due until the end of this year, the FBAA’s Peter White said the association will review remuneration structures in the UK, New Zealand and the US, while further evidence will be gathered on Canada’s market.

“This research will clearly show that our commission structure is of an international standard, creates the right consumer outcomes, is commercially fair, and appropriate for the extensive work done pre- and post-settlement for the bank and the client by the broker,” he said.

“This will form part of our arsenal and strengthens our industry position that the current commission structure is fair and equitable and in no need of a radical overhaul.”

Mr White said the FBAA will continue to communicate its stance on broker commissions to the federal government.

Advertisement
Advertisement

[Related: A broker’s perspective of the ASIC review]

FBAA to review broker commissions
default
TheAdviser logo
default
FROM THE WEB
more from the adviser
SME lender joins FAST panel

OnDeck Australia has become the latest non-bank lender to join th...

Aggregator launches white label loan suite

Connective has officially launched its suite of white label loan ...

Macquarie adds construction features to mortgage products

The non-major lender has informed brokers that it will be introdu...