Powered by MOMENTUM MEDIA
the adviser logo
Tech

New online accreditation system launches

by Reporter4 minute read

A Queensland-based non-bank lender has become the latest lender to provide an online accreditation system for mortgage brokers. 

Firstmac has launched a new online system that requires brokers to complete an online form and watch a training video. The data they enter into the form is then sent to their aggregator for confirmation and authorisation, should all relevant requirements be met (i.e. licence numbers, external dispute resolution, etc.).

To continue reading the rest of this article, create a free account
Already have an account? Sign in

Once authorised by the aggregator, Firstmac then issues the broker with access to its website and product suite and assigns them a broker identification number.

According to the company’s national sales manager Jake Sanders, the approval process can take around one hour (depending on aggregator approval speed), and requires just 10 minutes of online work.

Advertisement
Advertisement

Mr Sanders said: “Most brokers these days are really comfortable with technology, so it is time to move beyond systems that force brokers to attend off-site training.

“We understand that brokers are busier than ever, so we are continually looking for ways to speed things up for them.

“Old-fashioned accreditation processes have been a major waste of time, so we have created a simple solution which offers industry-leading accreditation speed.”

Firstmac has said that it hopes to boost its number of accredited brokers, which currently sits at around 5,800, and thus increase distribution.

[Related: Firstmac exits wholesale funding]

New online accreditation system launches
default
TheAdviser logo
default

JOIN THE DISCUSSION

You need to be a member to post comments. Register for free today

MORE FROM THE ADVISER

Anja Pannek CEO PLAN

Anja Pannek named MFAA CEO

The board of the Mortgage & Finance Association of Australia (MFAA) has confirmed that Anja Pannek will be the...

READ MORE
mike felton mfaa ta jdayl5

Aggregator heads reflect on Mike Felton’s legacy

Following on the news that Mike Felton is to retire next month and step down as chief executive of the Mortgage &...

READ MORE
melanie kiely afg ta mzh8zm

AFG non-executive director steps down from board

Australian Finance Group Ltd (AFG) has advised that Melanie Kiely will be stepping down from the AFG board to...

READ MORE
magazine
Read the latest issue of The Adviser magazine!
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Read more