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The weekly round-up of some of the biggest news stories in the broking industry from the week ending 4 March.
Welcome to The Adviser’s weekly round-up of the top news and features from this week.
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Commercial and asset finance broking could become recognised professions
CAFBA is pursuing a Professional Standards Scheme for commercial and asset finance brokers in “one of the most significant reforms in the industry’s history”.Brokers dominate market share as settlements smash records
Mortgage brokers continue to write more than two-thirds of residential home loans and settled a record $95.65 billion in the final quarter of 2022
Major bank to merge retail and digi business
A big four bank has announced it will combine its Australian retail business with its digital division, set up a commercial division and welcome a new group exec for the retail bank.
Brokers encouraged to ‘give a hand’, as floods continue
While financial assistance pours in for residents impacted by the flood emergency, managing director of FBAA is urging brokers to “give a hand” to those in need.
MA Financial acquires non-bank mortgage lender
MA Financial Group has made another significant investment into the Australian lending market with the full acquisition of non-bank mortgage lender MKM.
Former treasurer Peter Costello highlights value of brokers
Mortgage brokers provide an “extremely valuable service” that “should be properly remunerated”, according to former treasurer Peter Costello.
Tasmania expands housing measures
The state government has waved through a number of housing measures including the extension of stamp duty concessions and first home buyer grants, under a new package.
RBA reveals March rate decision
The Reserve Bank has revealed its latest cash rate call, as the majority of mortgage brokers have tipped there will be an uptick by the end of 2022.
[Related: In case you missed it (the week ending 18 February)]
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