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James Mitchell
MFAA chief executive officer Phil Naylor has told brokers he has mixed feelings over government intervention in the mortgage broking industry.
Mr Naylor opened the MFAA National Convention yesterday by praising the government's assistance with the National Consumer Credit Protection Act.
"I've never experienced a federal government that has been so consultative and helpful," Mr Naylor said.
"They seem to have struck the perfect balance between consumer protection and broker satisfaction."
However, Mr Naylor's praise for the government ended when talk turned to exit fees.
"The same government didn't even listen to us on exit fees," Mr Naylor said.
"Exit fees are an important tool in the competitive forces we have in the market."
Mr Naylor said the MFAA will continue to push for the government to overturn the exit fee ban and consider the sucess of the Canadian Mortgage Bond model.
"At least we have the Canadian Mortgage Bond model on the agenda and we are not going to let it go," he said.
"We are going to push it."
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