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An MFAA accredited mortgage consultant and his company have been expelled for misconduct.
According to a statement by the MFAA, Mr Anh-Tuan Pham and his company Freedom Finance & Property Group engaged in dishonest conduct by manufacturing and submitting income supporting documentation from his company for two individuals not employed by the business.
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As such, The MFAA Disciplinary Tribunal decided this morning to expel the broker and his company from the industry body network.
“This conduct was contrary to clause 42 of the MFAA Code of Practice which states, ‘A Member must not engage in any acts or omissions of a misleading, dishonest, deceptive or fraudulent nature’”, a statement by the Disciplinary Tribunal read.
MFAA chief executive Phil Naylor said the company had a well defined Code of Practice which demands high standards of behaviour, ethics, expertise and experience.
“As the MFAA represents the majority of Australia’s mortgage brokers with over 12,000 members, we take this responsibility to members and to borrowers seriously. We have strongly lobbied for the past four years for consistent, nation-wide regulation of mortgage brokers and welcome the passing of the National Consumer Credit Protection Act but will continue our strong approach to disciplinary matters as we believe it is in the best interest of consumers and our members,” Mr Naylor said.
