Why Australian Mortgage Brokers Are Getting 'Robbed' Compared to Other Countries | Ep. 42

If you want to take control of your finances, generate wealth, and secure your future, visit: https://rykercapital.com.au/our-service/

-----

In this episode, we have Peter White, the managing director of the Finance Brokers Association of Australasia (FBAA), who was awarded a Member of the Order of Australia (AM) for his outstanding contributions to the finance sector and community.

Peter talks about why Australian mortgage brokers face the harshest clawback conditions globally, how recent changes in bank attitudes affect broker remuneration, and the concerning trend of back-book pricing in the lending industry.

He also discusses the strategic role of the FBAA in influencing regulatory decisions, the impact of cash-back incentives on the mortgage industry, and why excessive industry self-promotion might create future challenges for mortgage brokers.

If you want to understand the behind-the-scenes dynamics in finance that affect brokers and borrowers alike, then make sure to listen to this episode!

-----

SHOW NOTES LINKS

https://www.linkedin.com/in/peter-j-white-am-b094607/ 

https://www.fbaa.com.au/
https://www.linkedin.com/company/fbaa
https://www.instagram.com/_fbaa_/
https://facebook.com/FinanceBrokersAssociationofAustralasia/
https://www.youtube.com/channel/UCOJSJXnJzAI-SPj7m5wTmkA 

-----

LISTEN TO THE PODCAST

Spotify: https://spoti.fi/3qJL8w4
Apple Podcast: https://apple.co/3QPF3ch
Amazon Music: https://amzn.to/3YMZjgD
Google Podcast: https://bit.ly/3swIVEF

-----

FIND US HERE

Facebook: https://bit.ly/3RsO5Mr
LinkedIn: https://bit.ly/3Rs0Qah
Instagram: https://bit.ly/46kZvGp
TikTok: https://bit.ly/3PSbK7U
YouTube: https://bit.ly/3rsKxPG 

-----

CONTACT US

hello@rykercapital.com.au   

Client Enquiries: 1300 179 537
Careers & Press: 1300 179 537

----

TIME STAMPS:

00:00 - Intro
00:58 - Key Outcomes in Regulatory Matter
04:24 - The Reason Why Clawbacks Occur in Australia
05:59 - Challenges that Banks of the Mortgage Brokers Face
09:57 - “Mortgage Brokers ARE Service Providers”
12:13 - Cashbacks Removed
15:30 - What the FBAA Do to Support Mortgage Brokers
21:53 - Conclusion

-----

DISCLAIMER

The information provided in this podcast is for general purposes only and should not be considered personal advice. Always consult with qualified professionals or experts in the relevant field for personalised advice tailored to your specific situation.

Chapters

• 0:00 Intro
• 0:58 Key Outcomes in Regulatory Matter
• 4:24 The Reason Why Clawbacks Occur in Australia
• 5:59 Challenges that Banks of the Mortgage Brokers Face
• 9:57 “Mortgage Brokers ARE Service Providers”
• 12:13 Cashbacks Removed
• 15:30 What the FBAA Do to Support Mortgage Brokers
• 21:53 Conclusion