Episode 22: The Impact of the FBAA on the Mortgage Broking Industry and the Client Experience

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Episode Description:

In this episode, we have Peter White AM, the Managing Director of the FBAA or Finance Brokers Association of Australia Limited, the leading national association for finance and mortgage brokers with over 11,000 members.

Peter talter talks about the crucial role of mortgage brokers in the current financial landscape, the importance of mental health awareness in the broking industry, and the journey of advocacy and support for brokers through the FBAA.

He also discusses the challenges and opportunities in the finance broking profession, the impact of regulatory changes and compliance requirements, and the future outlook for finance and mortgage broking as we navigate through 2024.

If you want to gain a deeper understanding of the finance broking industry from one of its most seasoned and respected leaders, then make sure to listen to this episode!

Timestamps:

00:00 – Intro

02:29 – Peter White’s Background & The FBAA

08:03 – How Else Does the FBAA Support Mortgage Brokers?

10:45 – The Important Part of Peter’s Role

14:54 – Post Royal Commission

17:28 – Embedding “Duty of Care” in the Industry + How the FBAA Is Involved Complaint Process

22:06 – Finance Broker Industry in 2024

26:28 – Becoming a Mortgage Broker in 2024

29:43 – Navigating the Challenges in the Industry in 2024

38:02 – What’s Next? Peter’s Advocacy in Legislative Changes

41:41 – Conclusion