MFAA joins 2 government groups

The Mortgage & Finance Association of Australia (MFAA) has announced it is now a member of the Residential Energy Efficiency Disclosure Initiative (REEDI) Governance Forum and the Future Skills Organisation (FSO).

The MFAA joins REEDI as a non-voting member, which is a strategic project between federal, state, and territory governments to develop a national framework for the disclosure of energy efficiency information for residential properties.

This is facilitated by the Department of Climate Change, Energy, the Environment and Water.

A key objective of REEDI is to deliver home energy ratings and information to home buyers, sellers, and landlords. In addition, it informs on how to upgrade the energy efficiency of their homes through the Nationwide House Energy Rating Scheme (NatHERS).

According to the MFAA, since NatHERS is being expanded to existing homes (current only applied to new homes), it will be applicable to a broader range of broker clients.

MFAA chief executive Anja Pannek said brokers will be “critical” to assisting clients to obtain a NatHERS rating for their home. They can also help clients access “green finance” products to fund energy-efficient home improvements.

“With more than seven out of 10 home loans facilitated by mortgage and finance brokers, our members are well placed to help their clients understand the options available to increase the energy efficiency of their homes – saving them money in the long-term, increasing their property value and importantly contributing to a sustainable future,” Pannek said.

“Being part of REEDI gives us the opportunity to ensure that our members are given the knowledge, tools and support to provide their clients with relevant information and timely guidance on this cornerstone government initiative.”

Furthermore, the MFAA joined the FSO as an associate member to guarantee the skills required for the mortgage industry are identified and that the qualifications align to those skills.

The MFAA stated the skills brokers and their support staff need are evolving as digital capability becomes essential.

“Our industry has a lot to offer, it is also one that is well positioned to offer employment to groups such as women returning to the paid workforce after raising children. Groups like FSO are key to creating pathways for these people,” Pannek continued.

“Our membership of the FSO is aimed at bringing the needs of the mortgage and finance broking industry into focus so that funding and training pathways can be developed and appropriate education options are accessible.”

[RELATED: Federal government should support borrowers and SMEs: MFAA]

Written by Adrian Suljanovic

Last Updated: 18 March 2024

Published: 19 March 2024