What qualifications Do You Need to Become a Mortgage Broker
Mortgage Broker Training provides courses to get you started as an Australian finance or mortgage broker. The main industry requirement to become a mortgage broker or credit adviser is an Certificate IV in Finance and Mortgage Broking. Even experienced brokers are required to have the Certificate IV in Finance and Mortgage Broking under ASIC requirements for credit licencing, MFAA guidelines, FBAA guidelines and to become accredited with lenders.
The Certificate IV in Finance and Mortgage Broking enables you to become accredited with lenders and the industry associations – the Mortgage and Finance Association of Australia – MFAA and the Finance Brokers Association of Australia – FBAA. The Certificate IV will also meet the educational standard of the National Consumer Credit Protection Act – NCCP (Federal licencing requirements).
The MFAA also requires members achieve a Diploma in Finance and Mortgage Broking Management within 12 months of becoming a member, while Commonwealth Bank announced in December 2017 that they would require brokers to have this qualification to become accredited with them.
The Certificate IV in Finance and Mortgage Broking, and the Diploma in Finance and Mortgage Broking Management are both included in the Combined Diploma course. The package saves you money and enables you to fast track your Mortgage Broking Career!
The Finance and Mortgage Broker courses offered are all nationally recognised within the Australian Mortgage Finance Industry by Broker Groups, Industry Associations and Australian Lending Institutions.
This is the starting point for your career as an Accredited Mortgage Broker or Credit Advisor.
If you want to enter the finance and mortgage industry, some Broker Groups and franchises will offer training courses. However, you need to commit to them before the training, often paying hefty franchise fees before you can join or understand the industry.
Learning about the finance and mortgage industry and achieving industry and government recognised qualifications gives you the knowledge before committing to a group or paying franchise fees. By completing one of these mortgage broker courses, you obtain the educational requirements and knowledge of the finance and mortgage industry first.
Then with an understanding of the finance and mortgage broking industry, you can choose where you want to get started in your mortgage broking career.
Read more about – What is a Mortgage Broker?
