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ISCOVER
Staff Reporter
New statistics from the MFAA show females are now the fastest growing segment of new recruits to the mortgage broking industry.
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According to the data, the percentage of female mortgage and finance brokers who are members of the MFAA, has grown from 22 per cent to 31 per cent over the last 10 years.
MFAA chief executive Phil Naylor said he was delighted to see more women becoming mortgage brokers, with many being recruited from the major banks, other finance industry players and outside the industry.
“The mortgage and finance broking industry is becoming a very attractive option for many finance professionals as it offers the opportunity for flexible hours, strong remuneration and incentives for those who commit themselves,” he said.
“The major players are seeing an increased rate of recruitment amongst females, who are choosing a different career path to traditional banking”.
The mortgage and finance broker channel has established itself as a consistent channel in home loans, occupying around 40 per cent of the market, achieving 5.3 per cent growth in volumes of new home loans to $24.69 billion during the June quarter, rising from $23.44 billion in the March quarter, according to leading industry research group, comparator.
Based on new home lending figures for the June quarter compiled by the Australian Bureau of Statistics, mortgage brokers have annualised loan volumes of close to $100 billion.
Mr Naylor said he expects the mortgage and finance broking sector to continue its growth in volumes over the next year as more customers come to understand the value mortgage and finance brokers can provide.
“It is now clear to borrowers that MFAA members are established as a trusted source of information and loans for borrowers, with females seen as very trustworthy and detail conscious regarding loan applications and approvals.”
