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.

Mortgage Lenders Council?s Canberra talks show promise

Staff Reporter 2 minute read

Rapidly changing market conditions could prompt the resurrection of the Mortgage Lenders Council – with a key body representative travelling to Canberra last week to hold talks with the office of the Federal Treasurer.

Lisa Montgomery, head of consumer advocacy with non-bank lender Resi, said she was satisfied with the day’s deliberations.

Ms Montgomery told Mortgage Business that discussions centred on the sector’s identity, ability to compete in the current environment, media perceptions as well as representation in policy making.

“There is a growing understanding of the issues affecting the non-bank sector. The new government was willing to listen and understands that we are poorly represented at this point,” said Ms Montgomery.

Ms Montgomery travelled to Canberra with the backing of 12 senior representatives from the non-bank and mortgage insurance sector, adding further weight to the case for the rebirth of the Mortgage Lenders Council.

Advertisement
Advertisement

“People in the non-bank sector are keen to have a representative body – but one that is supported by funding and resources that can drive it forward as a credible and significant organisation,” said Ms Montgomery.

The government has made no offer of financial support for a non-bank council at this stage.

Whilst he admitted that the decision to resurrect the Mortgage Lenders Council was up to the non-bank sector, MFAA CEO Phil Naylor said the council would be unlikely to overcome the problems the original council faced, and would ultimately be a waste of resources.

“The issues will remain the same for the non-bank sector and so my personal opinion is that a second council would be a waste of resources,” said Mr Naylor.

Mr Naylor highlighted that the non-bank sector already had representation within the MFAA by way of the non-bank forum and non-bank management committee.

Published: 14-04-08

Mortgage Lenders Council?s Canberra talks show promise
default
TheAdviser logo
default

TODAY'S POLL

View results >

Who do you aggregate through?

Thank you for your vote, you can see the results here.

more from the adviser
question mark 850 Brokers reveal which lenders are leading the way

The results are in for the Third-Party Lending Report 2020, revea...

board room office ta Lender revamps broker team

A low-deposit mortgage lender has announced changes to its third-...

build SMEs showing greater resilience to COVID-19

Businesses with an annual turnover of less than $200,000 have far...

FROM THE WEB