Mortgage & Finance Association of Australia (MFAA) - Company Research Report
Company Overview
Name
Mortgage & Finance Association of Australia (MFAA)
Mission of the Company
The MFAA's mission is to elevate the mortgage and finance broking profession, driving innovation and positive financial outcomes for Australians.
Founding and Founders
Established in 1980, the MFAA represents the interests of mortgage and finance brokers, mortgage managers, and aggregators.
Key People
- Anja Pannek - CEO
Headquarters
The MFAA is headquartered in Australia.
Number of Employees
No information is available.
Revenue
No information is available.
Company Recognition
The MFAA is the peak national body for professional mortgage and finance brokers, mortgage managers, and aggregators. It works with industry, regulators, and government agencies to ensure Australians benefit from competition and choice in the mortgage and finance market.
Products
Product Offerings
- Advocacy: Representing the interests of the finance broking industry to government and regulators.
- Education: Providing educational resources and professional development for members.
- Business-Building Support: Offering tools and resources to help members grow their businesses.
- Industry Intelligence Service (IIS): Reporting on industry data, including broker activities and market trends.
High-Level Description
No detailed information on specific products is available beyond the broad categories mentioned.
Key Features
- Advocacy: Engaging in policy discussions and lobbying efforts.
- Education: Hosting workshops, seminars, and providing online learning modules.
- Business-Building Support: Offering a range of business support resources.
- Industry Intelligence Service: Providing comprehensive reports on industry performance and demographic data.
Recent Developments
Research Reports
- Industry Intelligence Service (IIS) Report (April-September 2023): Detailed insights on the mortgage and finance broking industry, revealing a strong market with growing broker activity and high market share for mortgage brokers.
- Discussion Paper on AI in Broking (July 2024): Addressed ethical use and implementation of AI in the broking industry.
Market Share
- June 2024 Quarter: Mortgage brokers wrote 73.7% of all new home loans, indicating strong market presence and consumer preference for brokers.
New Products
No specific new products were mentioned.
New Partnerships
- Membership of the Council of Small Business Organisations of Australia (COSBOA): Announced in June 2024, strengthening support for small business members.
Regulatory and Industry Initiatives
- Serviceability and Cost of Living Report (September 2024): Found that while serviceability barriers for refinancing have decreased, cost of living pressures are growing.
Workshops and Educational Initiatives
- New Commercial Broker Workshop: Offered comprehensive education on commercial broking, with complimentary online learning modules launched to supplement in-person workshops.
Ethical Guidance
- AI Guidance Paper: Released to provide practical advice and encourage safe, ethical use of AI within the industry.
Industry Advocacy
- Home Loan Discharge Process Recommendations: Provided six recommendations to improve the home loan discharge process.
Industry Events
No specific events were mentioned beyond regular educational workshops and member forums.
Conclusion
This detailed report provides a comprehensive look into the Mortgage & Finance Association of Australia's operations, focusing on the latest data-driven insights and developments within the mortgage and finance broking industry. With a strong presence in the Australian market, significant advocacy efforts, and continuous support for their members, MFAA remains a pillar in the professional finance community in Australia.
