Finance and Coffee

Specialist Finance Group (SFG) has partnered with Mr Mentor, appointing the mentoring and training provider to its panel as part of its ongoing investment in broker development.

Mr Mentor brings Australia’s largest and most diverse panel of broking mentors, alongside a structured training and development framework designed to support brokers at scale.

Melissa Robinson, Director of Mr Mentor, said, “The partnership reflects a shared commitment to excellence. SFG understands that mentoring needs to be practical, structured, and measurable.” “That’s exactly what we deliver - support that provides brokers with the skills and confidence to grow sustainable businesses.”

The mentoring experience is underpinned by Mr Mentor’s industry leading LMS, delivering mentees a best-in-class experience, whilst providing mentors visibility over mentee progress, ensuring accountability and transparency across the program.

“SFG brokers can tap into mentoring that strengthens their capability while freeing up their time,” Robinson said. “They can stay focused on what they do best - servicing clients and writing business.”

SFG said the appointment aligns with its focus on leveraging technology and delivering meaningful support to its broker network.

Blake Buchanan, General manager of SFG said of the partnership, ‘Having a reputable mentoring service is critical to long-term success in our industry. For too long, the failure rate among new-to-industry brokers has been unacceptably high. At SFG, we are committed to setting the benchmark by partnering with the very best. Mr Mentor will further strengthen our already robust framework, providing brokers with the support, guidance and expertise they need to build sustainable and successful businesses.

The move positions SFG brokers to access scalable, tech-enabled mentoring designed to drive both efficiency and performance.

Combatting mortgage fraud requires action, accountability and perspective:

The Finance Brokers Association of Australia (FBAA) says the current discussions around fraudulent mortgage applications should be approached from a position of integrity and perspective, ensuring that finance and mortgage brokers are held to the highest standards while the industry is not made a scapegoat.

FBAA interim CEO Peter White AM committed to support any initiative that mitigates risks of fraud and ensures that any broker who is found to have engaged in fraudulent practices is prosecuted.

He said the FBAA will do whatever it takes to be a part of the wider solution.

“Our industry is not immune to bad actors, but equally we must not accept any attempt to tarnish the overall reputation of brokers who are overwhelmingly of excellent character and go above and beyond to serve our clients and support lenders with integrity.”

Mr White said it appears that a key factor in suspected fraudulent activity was the involvement of organised criminal enterprises, which requires the focus of law enforcement and regulators.

“More information and data is needed to get the facts, and when this becomes available, we will consider anything we can do as an industry body to play our part.”

However, he said lenders must also be held accountable, and it was time for banks to finally re-evaluate some of their own practices including referral programs.

“The FBAA has been calling out some banks for ignoring recommendations from the Sedgwick report and the Hayne royal commission for many years, sadly to no avail.

“It is accepted that referral and introducer programs can be misused, and now they should be eliminated.”

Mr White also pointed to other bank practices and questioned how bank branches can approve applications previously rejected by brokers, “which we know happens.”

He supported calls for an industry-wide approach but said it must include all sectors.

“The finance broking sector has proven that we are prepared to work in the interests of the industry as a whole, even when it may adversely affect us.

“If others are also willing to make the tough decisions – and time will tell - we can combat the problem together.”

Lender Signals Digital Shift with Broker-Centric Platform and Niche Lending

AMP Bank - Broker has signalled a strategic reinvigoration of its banking division, primarily focused on transforming its engagement with the mortgage broking industry, which now accounts for a significant majority of home loan settlements.

The shift, detailed in a recent interview with Travis Hall and Melissa Christy from the institution, centers on a significant investment in a new digital platform and a sharp focus on specialised lending niches to drive future growth.

Mr. Hall, highlighting the bank's renewed commitment, noted that with over 90% of its volume flowing through the Third Party channel, the bank's strategy is to "support the mortgage breaking industry" by addressing historical inconsistencies in pricing and service.

Technology Driven by Broker Input:
At the core of the transformation is a new digital submission platform, championed by Ms. Christy. The platform aims to resolve common pain points for brokers by verifying key credit data including income and expenses upfront and running decisioning rules early in the process.

The Bank reports massive initial broker uptake, resulting in one of its highest application months on record following the platform’s launch. While Ms. Christy admitted to "teething issues" due to unexpected volume, she stressed the platform's flexible architecture is designed for rapid adjustment. Crucially, the platform’s design process involved fortnightly collaboration with a forum of brokers to ensure it created genuine efficiencies and reduced rework.

From a policy standpoint, the bank is carving out distinct niches for specific customer segments: Self-Employed Clients. for example a policy that allows lending based on just 12 months of tax returns for personal and company financials, a move aimed at streamlining assessment for business owners.

Flexible Facilities: The introduction of a Master Limit product targets the self employed, those planning to retire and retirees, offering a flexible line of credit style solutions to help manage cash flow and provide ongoing funding flexibility.

Extended Interest Only Terms: A 10 year interest only product has been introduced, notably without the requirement for a further assessment at the five year mark, providing stability and cash flow relief for a full decade.

Mr. Hall summarized the strategy as a clear objective to support the substantial number of Australians reaching retirement age who still carry a mortgage, aiming to "free up their cash flow" during their peak financial years.

The bank is positioning itself as a more nimble player, capable of rapid changes and updates to its platform to move quickly with market demands, contrasting itself with larger, often slower-moving competitors.

Watch the full interview in the community group -https://www.facebook.com/groups/financeandcoffee

The Finance Brokers Association of Australia (FBAA) says Macquarie Bank’s surging home loan book shouldn’t come as a surprise, as brokers connect even more borrowers to its innovative offerings.

FBAA managing director Peter White AM said the fresh Macquarie results, which reveal the lender grew its share of the mortgage market from 5.7 per cent to 6.5 per cent over the last six months, is a sign of healthy marketplace competition and increased consumer choice.

“Brokers are bound to represent the best interests of their clients, and it's clear they're backing Macquarie because it’s delivering results,” Mr White said.

“Ninety-five per cent of Macquarie home loans are now being originated through its broker channel, indicating that borrowers are becoming increasingly discerning amid growing product innovation.

“Unlike the major banks, Macquarie isn’t relying on the same old products to drum up business – instead, they’re responding to consumer-driven demand, and it’s paying dividends.

“Brokers recognise a good deal when they see it and will only take the very best offers to their clients, whether it’s from Macquarie or any other lender.”

According to Mr White, the fixation from some major banks on increasing branch lending and reducing support for broker channels is short-sighted and “misses the point.”

“The home loan market is more competitive than ever and increasingly driven by innovation, yet bizarrely some banks want it to be a closed shop, where they carve up the spoils,” he said.

“Increased competition is giving consumers more choice than ever and it’s clear they’re overwhelmingly putting their trust in mortgage brokers.

“It never ceases to amaze me that some banks view brokers as competitors, given the volume of loans brokers originate for them.”