Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

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

International Mortgage Brokers Federation launches

international

international
Annie Kane 2 minute read

A new cross-border broker association has launched as the FBAA forms the “world-first international federation for mortgage brokers” with the Canadian Mortgage Brokers Association.

The new group, the International Mortgage Brokers Federation (IMBF), was launched in Canada today (16 October) by founding partners the Finance Brokers Association of Australia (FBAA) and the Canadian Mortgage Brokers Association (CMBA).

As well as including Australian and Canadian broking associations, the new federation also comprises members from the USA, New Zealand and the United Kingdom.

According to the executive director of the FBAA, Peter White, the new broker federation will help foster greater collaboration between member countries and will help deliver greater understanding of international regulation around broking.

Further, brokers can utilise the federation as a “global referral network” should their clients move abroad. It is hoped that this will enable brokers to maintain contact with their client once they move to a member country through the new cross-border group.

Mr White commented: “I was doing the FBAA’s global research paper in 2016 after discovering that Canada was also looking at establishing a collaborative international group of finance brokers.

“One of the catalysts for creating the federation was the realisation that finance regulators in each country had been talking to each other and sharing knowledge and regulatory outcomes, and we felt we would benefit tremendously by doing the same thing.

“We worked with the CMBA to form the IMBF on a platform of sharing ideas, referring clients, gathering market intelligence, identifying trends, and keeping up to date on regulatory matters and industry best practices.”

He added: “From today, the IMBF is the leading global forum for bringing the international mortgage broking community and its suppliers together to collaborate.”

The head of the FBAA said that he hoped the federation would become a strong body to influence regulation and legislation through global advocacy.

“The organisation also aims to develop and adopt new and existing standards that enhance the industry and promote strong ethical practices by its members,” Mr White said.

A board of governors has been established and the executive team will be announced shortly.

Several other countries who use third-party origination networks to distribute loan products have also been invited to join.

Advertisement
Advertisement

PROMOTED FEATURES


More to come.

[Related: Analysis: Aus brokers among the lowest paid in the world]

International Mortgage Brokers Federation launches
international
TheAdviser logo
international
Annie Kane

Annie Kane

Annie Kane is the editor of The Adviser and Mortgage Business.

As well as writing about the Australian broking industry, the mortgage market, financial regulation, fintechs and the wider lending landscape – Annie is also the host of the Elite Broker and In Focus podcasts and The Adviser Live webcasts. 

Email Annie at: This email address is being protected from spambots. You need JavaScript enabled to view it.

 

 

more from the adviser
fight boxing gloves FBAA says ‘clawback fight’ is not over

While the regulations for clawback arrangements have now been set...

digital home ta Connective adds digital mortgage lender to panel

The aggregation group has welcomed neobank 86 400 to its lender ...

team expansion ta Personal lender joins AFG panel

A marketplace lender has joined AFG’s panel of specialist finan...

FROM THE WEB