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Borrowers' confidence in brokers seems undiminished by scrutiny: MFAA figures show
The MFAA recently released a fact sheet analysis, Mortgage Broking: A Different Lens, which brings to light the dichotomy between what the critics are saying and what the regulatory reviews and industry data reveal about mortgage brokers.
“Consumers do not have a confidence deficit in the broker channel,” MFAA CEO Mike Felton told MPA.
“Why would [market share] be growing right in the height of the storm when the industry is being portrayed at its most negative; why would it continue to grow?” The analysis looks at arrears, complaints and market share growth. The MFAA has started distributing the data campaign to government, regulators and mainstream media, and will continue to advocate on brokers’ behalf, according to Felton. The research has also been published on the association’s website so brokers can use it on their own websites or distribute it to clients.