MPA 21.12

CELEBRATING 20 YEARS

MPAMAGAZINE.COM.AU ISSUE 21.12

TOP 100 BROKERS Recognising the record-breaking brokers of the last 12 months NON-BANKS PANEL Hear from the lenders who put brokers first

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2021 AMAs Meet the winners of the biggest awards of the year

DIVERSIFICATION The benefits of diversifying a broker business

17/11/2021 1:27:04 AM

ANZ & BROKERS

WORKING BETTER TOGETHER FOR YOUR PROFESSIONAL CUSTOMERS

Our LMI premium is currently waived, with no minimum income requirements, for eligible professional customers. For example, a medical practitioner who has an LVR of up to 95%* could save up to $36,000 based on an $800,000 home loan.

Eligible Customers Include: Medical Practitioners, Specialists, Dental Practitioners, Optometrists, Chiropractors, Physiotherapists, Veterinarians, Lawyers, Accountants. The amount your customer could actually save depends on their circumstances, such as their profession, their loan amount and where their property is located.

ANZ Brokers * This LVR is for medical practitioners, specialists and dental practitioners who are existing ANZ lending customers (that have held an ANZ lending product for at least 6 months) with an owner occupier loan making principal and interest repayments. For other eligible customers, the LVR is up to 90%. Different LVRs may apply to other lending options, such as investment lending.

Terms, conditions, fees, charges, and credit approvals and eligibility criteria apply to ANZ home loans. Please visit anz.com.au/promo/broker for the offer terms and conditions, including how to verify customers’ qualification/registration. © Australia and New Zealand Banking Group Limited (ANZ) 2020. ABN 11 005 357 522. Australian credit licence number 234527. Item No. 97528C 08.2021 WX248035

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DECEMBER 2021

CONNECT WITH US

CONTENTS

Got a story or suggestion, or just want to find out some more information? twitter.com/MPAMagazineAU facebook.com/Mortgage ProfessionalAU

UPFRONT 02 Editorial

29

SPECIAL REPORT

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2021’S TOP 100 BROKERS

Find out who made it into MPA’s annual list of top brokers in Australia in another year of record-breaking settlement numbers

MARK HARON

Connective’s executive director talks about the resilience of mortgage brokers, and the aggregator’s open approach to communication

10

Despite the lockdowns, the housing market has remained strong, with one state seeing an almost 100% increase in property settlements over the year

06 News analysis

With homes becoming increasingly unaffordable, the NSW government is recommending cutting capital gains tax, but some say much more is needed Australia’s ageing population comes with a heightened risk of elder abuse – and mortgage brokers have a duty of care to spot the signs

NON-BANKS PANEL 2021

BIG INTERVIEW

04 Statistics

08 Opinion

FEATURES

After another year of challenges and complexity, six non-bank representatives explain how their businesses have supported brokers in finding loan solutions for their customers

As broker market share continues to grow, the horizon looks bright as we move out of COVID-19

44

FEATURES

DIVERSIFICATION In order to protect their revenue stream, mortgage brokers need to think about diversifying their businesses – and there are plenty of opportunities to do so

53 FEATURES

AMA WINNERS

Celebrating at a virtual awards night, the industry came together to recognise the best in the mortgage broking sector in 2021

FEATURES 48 Marketing a broker business

It might seem to belong at the bottom of your to-do list, but marketing could be crucial to the success of a brokerage

PEOPLE 88 Other life

Mortgage broker Mitch McIntyre enjoys taking time out to play competitive poker

MPAMAGAZINE.COM.AU NOW ONLINE: Our daily newsletter. Keep on top of property market trends, business strategy, and what industry leaders have to say.

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UPFRONT

EDITOR’S LETTER

Providing a whole lot of value

T

he latest figures on mortgage brokers’ market share show that borrowers continue to value the third party channel, even when there is some semblance of normality.

At the height of the pandemic in 2020, mortgage brokers wrote a record-high 60% of all home loans. With the sudden plunge into lockdowns, new government incentives, changing bank appetites and employment instability, it was no surprise that more customers sought help from a mortgage broker.

The MFAA Industry Intelligence Service report shows that, in the March 2021 quarter, brokers wrote 57.5% of all home loans. Although Sydney was experiencing its Northern Beaches outbreak, most of Australia was unaffected, and the uncertainty, fear and confusion of 2020 had abated.

So, although slightly down from the high of 60%, broker share was still more than 5% higher than in the January to March quarter of 2020, before the pandemic really began.

The figures are positive, suggesting that, as we move forward to a plan of living with COVID-19, borrowers will still want to use a mortgage broker.

It’s not yet clear what the most recent quarters will look like in terms of market share, but many believe the Delta outbreak has in fact provided more opportunity

As we move forward with a plan of living with COVID-19, borrowers will still want to use a mortgage broker for brokers. According to head of Connective Home Loans Michael Goerner, the numbers are looking strong. As borrowers could no longer go to retail branches during the lockdowns, many of them turned to brokers instead.

“Brokers provide a whole lot of value. They save time. Obviously, [borrowers] haven’t been able to get out and go to a retail branch and talk to a normal bank or about their deals, so it’s convenient. It saves time, and they get an opportunity to look at a range of solutions rather than just going and looking at an individual solution,” Goerner said.

That optimism is shared by Mark Haron in this month’s Big Interview. “There is still so much opportunity,” he said.

As 2021 draws to a close and we look at what may come next in 2022, mortgage brokers should be seeking out that opportunity. Borrowers have seen your value over the past two years as you have supported and guided them through the biggest financial decisions of their lives.

Now is not the time to rest on your laurels but to make sure you continue the great service you have provided so far and undoubtedly see broker market share rise even further.

Rebecca Pike, editor, MPA

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www.mpamagazine.com.au DECEMBER 2021 EDITORIAL

SALES & MARKETING

Editor Rebecca Pike

Publisher Claire Tan

Journalist Maria Hoyle

CORPORATE

Contributor Sharon Yardley

Chief Executive Officer Mike Shipley

Production Editor Roslyn Meredith

Chief Operating Officer George Walmsley

ART & PRODUCTION Designer Cess Rodriguez Customer Success Manager Andi Zbojniewicz

Managing Director Justin Kennedy Chief Information Officer Colin Chan Human Resources Manager Julia Bookallil

EDITORIAL ENQUIRIES

tel: +612 8437 4784 rebecca.pike@keymedia.com

SUBSCRIPTION ENQUIRIES

tel: +61 2 8311 5831 • fax: +61 2 8437 4753 subscriptions@keymedia.com.au

ADVERTISING ENQUIRIES claire.tan@keymedia.com

Key Media Australia (Mortgage) Pty Ltd tel: +61 2 8437 4700 • fax: +61 2 9439 4599 www.keymedia.com Sydney, Auckland, Denver, London, Toronto and Manila

Mortgage Professional Australia is part of an international family of B2B publications and websites for the mortgage industry AUSTRALIAN BROKER

simon.kerslake@keymedia.com T +61 2 8437 4786

NZ ADVISER

alex.rumble@keymedia.com T +61 2 8437 4708

CANADIAN MORTGAGE PROFESSIONAL john.mackenzie@keymedia.com T +1 416 644 8740

MORTGAGEBROKERNEWS.CA corey.bahadur@keymedia.com T +1 416 644 8740

MORTGAGE PROFESSIONAL AMERICA katie.wolpa@keymedia.com T +1 720 316 7423

Copyright is reserved throughout. No part of this publication can be reproduced in whole or part without the express permission of the editor. Contributions are invited, but copies of work should be kept, as the magazine can accept no responsibility for loss.

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UPFRONT

STATISTICS WHERE BROKERS’ C0NCERNS LIE

Property settlements shot up in the September 2021 quarter, with Queensland leading the way. The state recorded more than 59,000 settlements, an increase of 42% year-on-year. Its total loan values were lower than in NSW and Victoria, but value growth over the quarter was much higher, at 93.1% year-on-year.

70%

61%

$13.0bn1

PROPERTY MARKET SOARS

of brokers rate lender turnaround times as their biggest current concern

are concerned about the frequency of change around credit policy

WA

+0.5% Jun 21 qtr

PROPERTY SALES SETTLEMENTS

BY STATE, AGGREGATE VALUE, SEPT 2021 QTR 1 PEXA forecast used for month of Sep 21

+61.7% Sep 20 qtr

SA

$7.3bn1 -3.9% +35.3% Jun 21 qtr Sep 20 qtr

AUSSIES OPEN TO MOVING FOR WORK A third of Australians would consider moving home if their employer told them they could, according to research conducted by Finder – 10% would even move overseas.

50%

are concerned about varying lender requirements

23%

Yes, I would move somewhere else within Australia

10%

Yes, I would move internationally

14%

My work can’t be done remotely

IF YOUR EMPLOYER SUDDENLY ALLOWED YOU TO ‘WORK FROM ANYWHERE’, WOULD THIS TRIGGER YOU TO MOVE?

88%

8%

of brokers are confident about growing their businesses Source: MyState Bank broker survey

4

IF YOUR EMPLOYER SUDDENLY ALLOWED YOU TO ‘WORK FROM ANYWHERE’, WOULD THIS TRIGGER YOU TO MOVE?

46%

I’m already allowed to work from anywhere No Source: Finder

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QLD

INVESTORS POSITIVE ABOUT HOUSING MARKET

$42.0bn1

Almost two thirds of investors believe now is a good time to invest in property, though just 35% are looking to purchase in the next 12 months, down from 44% in 2020.

+10.9% +93.1% Jun 21 qtr Sep 20 qtr

DO YOU BELIEVE NOW IS A GOOD TIME TO INVEST IN RESIDENTIAL PROPERTY?

NSW

$71.2bn1 +10.2% +79.5% Jun 21 qtr Sep 20 qtr

VIC

$50.2bn1 +5.0% +78.9% Jun 21 qtr Sep 20 qtr

62% Yes

Unsure

Source: PEXA

MIXED PRICE EXPECTATIONS More than a third of Aussies expect house prices to rise further as the market heats up post-lockdown, while 22% believe higher supply will ease prices.

WHAT IMPACT WILL A 70–80% COVID-19 VACCINATED COMMUNITY HAVE ON THE PROPERTY MARKET?

(ie continue to push property prices up)

43%

FOCUS OF COMPLAINTS

29.93%

Cool the market

Source: Canstar

Others

Business finance

Consumer loans

(ie ease property prices with more properties coming on to the market)

0.26%

7.58%

19.56%

Note: Based on a survey of 1,094 Australians aged 18+ in September 2021

No

Source: PIPA Annual Investor Sentiment Survey 2021

Of 67,613 complaints processed by AFCA in FY21, 28% were related to banking and finance, one fifth of which were about housing finance.

35%

22%

17%

BANKING AND FINANCE COMPLAINTS PROGRESSED = 18,628

Heat the market

Undecided

21%

20.15%

Housing finance

Banking and finance complaints

Deposit-taking/ payment systems

22.52% Credit cards

Source: AFCA

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17/11/2021 1:32:23 AM

UPFRONT

NEWS ANALYSIS

The fight to own a home With plummeting housing affordability, the NSW government has recommended cutting capital gains tax in a bid to make homeownership more achievable, but some say it’s not the solution EVERYONE HAS been watching property market prices continue to rise and affordability drop. Although the monthly rate of growth in Australian dwelling values recorded

by CoreLogic has slowed, it is still increasing at around 1.5% per month. At their peak in March 2021, dwelling prices rose by 2.76% that month. Not surprisingly, Sydney was most affected, reporting a peak growth rate of 3.7%.

According to the NSW Intergenerational Report released earlier this year, the rate of homeownership is being affected too. The share of people who owned a home in NSW peaked at 70% in 1966. In the 50 years since then, the homeownership rate in NSW and Australia remained relatively stable, but over the past decade it has started to decline. In the 2016 Census, it was the lowest it had been since 1954. The NSW Intergenerational Report said the outlook for homeownership rates was uncertain.

To tackle the falling homeownership numbers, in August the federal government announced an inquiry into housing affordability and supply in Australia. As part of its call for submissions, hundreds of organisations sent in documents with their recommendations.

One of these submissions came from the NSW government, which recommended that the Commonwealth Government provide incentives and remove disincentives to states and territories for “undertaking major productivity-enhancing taxation reforms” – for example, removing stamp duties.

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It also recommended cutting the capital gains tax concession, arguing that it was leading to significant purchases of properties for investment rather than accommodation.

“The NSW Government has proposed a new Property Tax Reform that seeks to transition from the current stamp duty and land tax system to a broad-based annual property tax based on unimproved land values,” the submission said.

“The NSW Government aims to make home ownership more achievable by proposing to address the upfront barrier of stamp duty and help people live where they would like to suit their stage of life. This proposal should make housing more affordable for all people.”

and throughout the pandemic they have not risen substantially.

“These numbers suggest tax breaks such as the capital gains 50% exemptions do very little to create investor speculation,” Paliwal said. “Removing this will only create greater supply constraints, as investors will hold on to

“Just over half of Australian adults believe the property market needs cooling, but it may be a case of ‘be careful what you wish for’” Steve Mickenbecker, Canstar The belief that capital gains tax concessions could help is not held across the board, however. Arjun Paliwal, founder and head of research at InvestorKit, said it could actually drive greater price rises.

He pointed to ABS lending figures which show that, pre-COVID-19, new loan commit­ ments to investors were declining,

assets for longer to create gains worth of selling if this tax is removed. In turn, it can create greater price rises, the opposite of what the thought on this policy is.”

Speaking at a public hearing of the inquiry, Customer Owned Banking Association CEO Michael Lawrence said that now was the time to bring a new commitment to tackling

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NATIONAL HOMEOWNERSHIP RATES BY AGE Homeownership rates by age and birth year cohort (Australia)

90% 80% 70% 60% 50% 40% 30% 20% 10% 0%

15–24

25–34

35–44

45–44

55–64

65+

Age Born 1942–1951

Born 1952–1961

Born 1962–1971

Born 1972–1981

Born 1982–1991

Born 1992–2001 Source: NSW Intergenerational Report

the problem across all levels of government.

Noting that first home buyers were finding it increasingly difficult to save enough money to buy a home, Lawrence said housing prices were now at a ratio of six times typical household disposable income – up from 2.5 times 30 years ago.

reflecting the value of land, which is driven by factors such as urban design, planning laws, transportation and taxation. These factors, along with others such as immigration, drive housing supply and demand and therefore housing affordability, and collectively fall within the remit of all

“Removing [capital gains tax exemptions] will only create greater supply constraints, as investors will hold on to assets for longer” Arjun Paliwal, InvestorKit He said adding stamp duty to a house price often increased the time it took to save a 20% deposit by two and a half years, assuming the potential borrower was working full-time on average earnings and saving 15% of their income.

“We have a quote in our submission from the RBA Governor about house prices

levels of government,” Lawrence said.

“A collective problem needs a collective solution. The biggest lever governments have to improve housing affordability is to boost supply.”

In a survey of Australian consumers run by Canstar, around three in 10 people said banks and lenders should increase home loan

interest rates to help cool the property market.

Of the 22% who believed increasing interest rates was not the right move, 27% said negative gearing and capital gains tax should be scrapped.

Other respondents suggested that first home buyers should receive extra support to compensate for price increases (36%); there should be tougher restrictions on investors (33%); and there should be less red tape (29%), which would encourage property development and construction, adding to the supply of housing.

Canstar’s group executive financial services, Steve Mickenbecker, warned that there was increasing pressure to increase interest rates, but this could spell trouble for some existing homeowners.

“Just over half of Australian adults believe the property market needs cooling, but it may be a case of ‘be careful what you wish for’ for the almost one in three Australians who would welcome interest rate increases, as the pursuant mortgage stress would be quite a drag on the economy beyond housing prices,” Mickenbecker said.

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17/11/2021 1:32:48 AM

UPFRONT

OPINION

GOT AN OPINION THAT COUNTS? Email rebecca.pike@keymedia.com

A duty of care for older generations Ninety-one per cent of the time elder abuse is personal, writes Sharon Yardley, who warns mortgage brokers to look out for the signs LIKE IN many other countries around the globe, Australia’s population is ageing. In fact, ABS projections suggest that nearly a quarter of the population will be 65 years or older by 2051.

With a growing number of older people comes a heightened risk of elder vulnerability. Australians lost a record $851m through scams in 2020, and those aged 65-plus suffered the largest proportion of financial loss (23.9%). Although scams are some of the best-recognised attacks on seniors, there are many different types of ageism, inequality and elder abuse that often slip under the radar.

Some may think of ‘elder abuse’ as being impersonal or petty crime, such as a stranger stealing your gran’s purse on the street.

However, recent data from Senior’s Rights Victoria shows that 91% of elder abusers were family members of the vulnerable person – and in 67% of cases were their son or daughter.

Those of us working in finance have a duty of care to our customers, and it’s important to understand how personal and complex the issue of elder abuse is, as well as to be able to recognise the subtle signs of financial abuse and know how to act on them.

Elder abuse is mistreatment of an older person by someone with whom the older person has a relationship of trust, such as a partner, family member, friend or carer. It may be physical, social, financial, psychological or sexual and can include mistreatment and neglect or violating an older person’s basic right to feel safe. In some cases, the person’s family, friends and carers may not know that their actions amount to elder abuse.

Financial abuse is one of the most common

8

types of elder abuse, constituting 62% of cases.

Red flags could include: • a family member or friend attempting to handle all/most communication or financial paperwork on behalf of a seemingly competent older person, with no authority to do so; • signs of misuse of an enduring power of attorney, guardianship or administration order, with control over an older person’s property/financial affairs to their detriment (such as the attorney using the donor’s funds for their own personal expenses); • unpaid bills or lack of medical care, although the customer has enough money to pay;

strict requirements for engaging customer agents (like powers of attorney). We also monitor the customer’s account for suspicious activity or behaviour post-settlement.

If we do suspect that elder abuse is occurring, here are some of the actions we take: 1. Privacy: If a child or friend of a customer calls, we don’t release information unless their express and formal permission is given.

2. Customer discussion: Our people complete a compliance call with the customer prior to approval, which ensures they not only understand the nature of their loan but are not under any undue pressure to take it.

It’s important to understand how personal and complex the issue of elder abuse is, as well as to be able to recognise the subtle signs • the customer giving implausible explanations or appearing confused about what they are doing with their money; • the customer being reluctant to answer questions or provide information; • funds only being drawn for gifting to children, without a genuine customer desire to do so.

As Australia’s leading reverse mortgage provider, Heartland takes its customer duty of care seriously, particularly when it comes to elder financial abuse. Some of the processes we have put in place for these loans involve requiring all loan applicants to seek independent legal advice, encouraging financial advice and family discussion, and maintaining

3. Escalation: All concerns and suspicions of financial abuse are escalated immediately.

We may speak to other family members or third parties, report it to the police, notify protective agencies, or request a welfare visit to ensure protection of the customer.

If you suspect someone is experiencing elder abuse, you can call the national elder abuse phone line on 1800 ELDERHelp (1800 353 374). For crisis or emotional support, call Lifeline’s 24-hour support line on 13 11 14.

Sharon Yardley is head of operations, risk and compliance at leading reverse mortgage lender Heartland Finance.

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17/11/2021 1:33:37 AM

PEOPLE

BIG INTERVIEW

MARK HARON: CONFIDENCE IN THE BROKER As Connective’s executive director celebrates 15 years at the aggregator, he reflects on the resilience of the broking industry during the challenges of the pandemic, and his learnings from this period WITH RISING vaccination rates paving the way out of the COVID-19 pandemic, the broker industry is gearing up for what the ‘new normal’ might look like. Connective executive director Mark Haron is confident that the high activity brokers have seen in the last two years will continue. There is “still so much opportunity”, he says.

Celebrating his 15th anniversary at the aggregator in October, Haron says if he has learnt one thing from the past two years, it’s the importance of communication and connection. Brokers stepped up their communication during the pandemic to make sure borrowers understood the various changes and offers on the market, and he says this should continue.

“It’s crucial for brokers to continue to communicate with clients to understand their needs and to educate them. The real opportunity is to develop deeper client relationships but do it at scale,” Haron says.

“With interest rate changes coming up that will potentially negatively impact borrowers, clients will want to know more and more about ways they can ensure they

10

have the right home loan. The broker’s job is to guide the client on that journey.”

Helping brokers stay resilient In navigating repeated lockdowns, communicating with borrowers, and growing their own businesses, brokers have been nothing if not resilient. They quickly adapted to the

Haron says. It needs to accurately collate data, guide the broker through regulatory requirements, provide a seamless process for the client, and support regular communication.

In the same system as their CRM, brokers can use Connective’s Client Centre to get borrowers to put information into their profiles, as well as access product calculators

“It’s crucial for brokers to continue to communicate with clients to understand their needs and to educate them” virtual landscape early in the pandemic, and technology has played a huge role in this.

Haron says the industry has gone through an accelerated digital transformation, and many of the changes are here to stay.

Systems like Connective’s Mercury Nexus give brokers the ability to navigate various tools to service existing clients and connect with prospective clients. A good platform doesn’t just get the application to the lender,

and pull together data for compliance.

It’s not just a benefit to the broker; Haron says clients have enjoyed the change to digital processes too.

“The way brokers have really engaged with the available technology has been exciting,” he says. “It helps them provide exceptional service to their clients, which results in more borrowers using brokers through positive ‘word of mouth’.”

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17/11/2021 1:35:12 AM

PROFILE Name: Mark Haron Title: Executive director Company: Connective Years in the industry: 25 Career highlight: “I’m really proud of what we have achieved at Connective, working with the industry associations, advocating for brokers and building strong engagement. I’m also proud of being involved in establishing the Combined Industry Forum.

Another career highlight was being appointed to the MFAA board in 2019. I’m honoured to continue to support and guide the industry in this role.”

www.mpamagazine.com.au

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17/11/2021 1:35:29 AM

PEOPLE

BIG INTERVIEW

Rolling out tech updates has been an important way for Connective to help brokers transition to online processes, but that’s not all it has done to support them.

Understanding the frustrations that brokers and their clients have been experiencing due to lengthy turnaround times, Connective has invested in its own white label home loan product.

Haron says the benefit of having a white label portfolio is that the aggregator can focus on improving service levels, forcing other lenders to look at their own.

Connective has also introduced its Lender Approval Time Dashboard over the last year, providing real-time data on lender approval

Connective has also ensured that all its staff are interacting with brokers more frequently.

This has been a focus throughout the business – and Haron adds that none of this could have been done without the support of CEO Glenn Lees.

“We were conscious during any interaction with our members that brokers were going through a pretty tough time,” Haron says.

“In the last two years brokers’ clients have needed them more than ever, and there’s been a heightened level of interaction. So we needed to lift our service levels for brokers as well. It’s really about checking in on the brokers and making sure everyone is doing

“We were conscious during any interaction with our members that brokers were going through a pretty tough time” times, which “changed the whole narrative” on how lenders were reporting their turnaround times.

“It’s made them be more transparent in how they’re reporting turnaround times,” Haron says.

“We’re saying to the lenders, ‘no one cares when you pick up the loan file’, and the client doesn’t really care when they’ve got a conditional approval, because it still doesn’t mean they have the loan locked in.

“It’s when the loan becomes ‘unconditional’ that is crucial. That’s when the broker knows, and the client knows, that they can purchase or refinance their property with confidence.

The Lender Approval Time Dashboard helped lenders be a lot more focused on improving turnaround times.”

Keeping brokers informed, engaged Along with meeting brokers’ expectations that they will have the right tools and services,

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OK, and we’re all looking after each other.”

Brokers have not been the only communicators during the pandemic. Quickly adapting to the situation, Haron began hosting webinars to ensure brokers were kept informed but also continued to feel engaged while they worked from home.

The level of interaction with industry associations, the regulators and the government did not slow down either, he explains, so it was important to him to keep communicating so brokers knew Connective was not “dropping the ball”.

“We’re continuing to do these things so brokers can feel confident and continue to look after their clients and grow their businesses,” Haron says.

To support these interactions, he explains that the aggregator has partnered with Melbourne Business School to offer a broker education series as part of its extensive digital education program this year.

A RECORD-BREAKING YEAR FOR CONNECTIVE Connective has achieved record results in FY21, driven by the hard work of brokers and their willingness to adopt new technology and ways of working.

$93.96bn

in residential home loan applications in FY21 – 35% growth year-on-year

$64bn

in residential settlements – 28% growth from previous financial year

88%

growth in Connective Home Loans

75%

growth in value of applications from January to June 2021 year-on-year

“The brokers are loving it because it’s not just talking about the industry, it’s talking about how to improve their businesses. It’s been tremendous to see brokers thrive in what could have been a disastrous period for the industry.”

Congratulating brokers on their resilience over the last two years, Haron says they have stayed strong and done a great job of supporting their clients – and the increasing share of the mortgage broking channel is a direct result of the outstanding performance of brokers over recent years.

“Let’s continue to make sure the mortgage broker proposition remains really relevant and we all continue to strive to deliver the best outcomes for clients,” says Haron.

www.mpamagazine.com.au

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17/11/2021 1:35:17 AM

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17/11/2021 1:35:23 AM

SPECIAL REPORT FEATURES

NON-BANKS ROUNDTABLE PANEL 2019 2021

CHANGING PERCEPTIONS The six non-banks joining MPA’s annual roundtable this month talked about what’s driving more brokers and customers their way, including their consistent service and flexibility, focus on innovation, and their gradual debunking of the myths around being more expensive

14

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THE CHALLENGES of the last two years have not only been around mask-wearing or social distancing restrictions. The COVID-19 pandemic also created more difficult lending conditions and led to blown-out turnaround times and heightened refinancing numbers.

On top of that, interest rates were at record lows, house prices shot up to new highs, and government incentives saw first home buyers enter the market in their droves.

Ready to stand alongside mortgage brokers and tackle the challenges head-on were the non-banks.

As a couple of this year’s roundtable panellists pointed out, the non-banks have been by the broker’s side since the royal commission.

Over the last two years it seems the broking industry has taken notice: figures from MPA’s surveys show that brokers recognise positives

like the non-banks’ better turnaround times, and say their clients are more willing to go to a non-bank than they used to be.

The non-banks say that, because of their focus on useful and relevant innovation, flexible lending policies and pre- and post-settlement support, brokers know they can trust them with their clients. This has been especially important over the past two years when many borrowers have faced changing employment and/or income situations, which meant they were no longer suited to a bank loan.

With the recent APRA changes to the interest rate buffer, the non-banks also discussed how they would continue to be there for borrowers as more of them found themselves in that position. There were mixed opinions on how much of an impact APRA’s measures would have, but all the non-banks

were cautious about the further changes the regulator might bring in.

As well as the discussion around APRA’s changes, one of the other big conversations of the day was about the continuing misconception that non-banks charge higher rates and fees. There was also a concern that some brokers and borrowers see non-banks as solely offering non-conforming loans, when in fact they usually offer prime loans as well.

MPA was joined for the 2021 roundtable by six non-banks: Pepper Money, La Trobe Financial, Resimac, Bluestone, Mortgage Ezy and Liberty Financial. Thanks to everyone for taking time out of their busy schedules to be part of the discussion, despite the ongoing challenges preventing us from meeting in person.

Read more about what the non-banks had to say over the following pages.

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THE PANELLISTS

Barry Saoud GM, mortgages and commercial lending, Pepper Money

Cory Bannister Chief lending officer, La Trobe Financial

What has the COVID-19 era been like for you at the non-banks?

Almost two years on from the start of the COVID-19 pandemic, the world is looking to a future in which high vaccination rates mean restrictions can ease and life can return to some semblance of normal. But although it was a difficult period, and most are glad to leave it behind, there have been some positive takeaways.

For non-bank lenders, the complexity of

Daniel Carde General manager, distribution, Resimac

James Angus Chief customer officer, Bluestone

there before COVID, due to the major banks increasing their focus on highly scalable and automatable opportunities.

“The number of segments in the lending landscape that have been left without that support and without that credit availability at a critical time for many Australians and the Australian economy, that’s where the non-banks have really been able to step in and fill that void for customers that would ordinarily be taken up by the major banks,”

“We have competitive products, and we have a great service proposition both pre and post settlement.

What’s not to like?” Daniel Carde, Resimac the last two years has provided opportunity.

La Trobe Financial’s chief lending officer, Cory Bannister, said an uncertain market often created that opportunity for non-banks because of their customised approach to assessing credit applications and their ability to tailor a solution to the customer.

The same applies to mortgage brokers.

Bannister said the boost to broker market share was expected because of the way brokers look at each customer’s situation.

But he added that the tailwinds of growth for both brokers and non-banks were already

16

Bannister said.

“It’s been a challenging but rewarding time for non-banks to be able to lean in and assist.”

As well as creating opportunities, the last year has also allowed the non-banks to learn, said Resimac’s general manager, distribution, Daniel Carde.

When COVID-19 hit in March 2020, no one knew what to expect, and that was highlighted by the number of customers who sought hardship assistance early on. As the situation unfolded, many of them found they did not need assistance and either continued

Joanna James Director, Mortgage Ezy

John Mohnacheff Group sales manager, Liberty Financial

to repay their loans or ended the assistance early. It was the initial fear of the unknown that prompted them to seek assistance. This year, requests for assistance were considerably lower.

One of the benefits for Resimac of being a non-bank was that it could tailor its assistance to suit the customer, Carde said. “[They] needed someone to talk to who had some very clear processes in place; so when a customer rang Resimac, we didn’t have a cookie-cutter approach,” he said.

“We had options for customers, whether it was repayment holidays or moratoriums or going on to interest only for a short period; or even making reduced repayments, so not quite interest only but not quite nothing and not your full repayment. I think that approach worked really well with customers.

“It was giving them the comfort that if it did all go pear-shaped – because they didn’t know what was around the corner – the lender and their house would be the least of their worries. They could concentrate on their family and getting back on their feet.”

The appetite for alternative lending was seen across all the non-banks. Pepper Money saw that the idea of a ‘traditional’ PAYG borrower was shifting to include self-employed borrowers, where the lender simply needed to look behind typical forms of income.

Barry Saoud, Pepper Money’s general manager, mortgages and commercial lending,

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said that was what strengthened the nonbank’s proposition, in that it had flexible credit policies to cater for more than just prime loans.

“Having those alternative lending options gave the customer some confidence, so I think that’s what we definitely saw grow,” Saoud said, adding that another key factor was Pepper Money’s accuracy and speed to decision.

“Customers are demanding faster turnarounds. We saw that the banks had blown out on their turnaround times. The fact that we as a sector really strengthened and invested into that credit capability, we were able to grab some market share from the banks and really try and support those customers,” he said.

Agreeing on the point about turnaround times, Mortgage Ezy director Joanna James said there had been a two-tiered service approach by the banks, with branches and brokers experiencing different turnaround times. This has painted the non-banks in a good light, particularly after groups like the MFAA spoke up about this, she said.

“I think that’s one particular area where non-banks have stood out, proving the test of time that we support brokers and we actually do have excellent turnaround times,” James said.

Another difference between the banks and non-banks over the last year, said Bluestone’s chief customer officer, James Angus, was that the banks had been focusing on “Mr and Mrs Average”. Not only did that customer type not exist any more, but borrowers did not want to fit into that cookie-cutter box.

“Lots more people have side hustles and multiple sources of income, and their hopes and dreams and how they’re living life has changed,” Angus said.

“I don’t think a lot of the ADIs have kept up with that, but that’s always been our bread and butter. We revel in those situations and understand them. I think that’s very much driven lots of brokers and

LENDER TURNAROUND TIMES BY QUARTER, FY2018–21 30

Turnaround times to unconditional approval*

27.3 25.4 25

25.2

24.0 22.5 22.8 19.2

20

19.9 20.5

19.6

20.2

21.1

21.2

21.8

19.9 18.9

17.8

15

FY18 FY18 Q1 Q2

FY18 FY18 FY19 FY19 FY19 Q3 Q4 Q1 Q2 Q3

FY19 Q4

FY20 Q1

FY20 FY20 FY20 FY21 FY21 FY21 FY21 Q2 Q3 Q4 Q1 Q2 Q3 Q4

* Average number of days from submission of the loan application by the broker to the lender providing formal approval Source: AFG Index, October 2021

consumers to deal more with non-banks.”

Instead of taking a rigid approach, the non-banks can pivot. Liberty Financial group sales manager John Mohnacheff pointed to the start of the pandemic when there was talk of potential mortgage arrears, saying the work between brokers and non-banks had avoided that.

“Our ability to pivot, not only in the front end but also in the back end, I think really impressed the broking community,” he said.

“By being flexible with the borrower and our clients and, as Daniel was saying, really understanding their situation, the arrears actually didn’t blow out. People began to find ways to manage their finances, and the non-banks and brokers working together helping people transition through that was

very admirably handled by the whole finance community.”

The biggest barrier to using non-banks continues to be higher rates and fees. Why does this not need to be a problem?

The panel discussion naturally turned towards the “myth” of higher rates and fees.

In MPA’s latest Brokers on Non-Banks survey, 42% of brokers said the biggest barrier to putting loans through a non-bank was the higher rates and fees.

Asked why this should not be seen as a problem, Carde said there was a misconception: people should not confuse ‘non-bank’ with ‘non-conforming’. In fact, many of the non-banks on the panel offer prime loans

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FEATURES

NON-BANKS ROUNDTABLE 2021 as well as alternative solutions.

As lending is a risk-based pricing business, interest rates will change depending on the borrower’s circumstances and LVR, but it is not ‘like for like’ because in many cases those borrowers could not get a loan from a major bank.

Acknowledging that in the past some nonbanks were focused on providing non-prime lending solutions, Carde said they had “come a long way since then”.

“We do offer that complete range of lending products,” he said. “For those that fit the typical mainstream criteria, you will get an exceptionally competitive rate that I can say hand on heart on carded rates would beat any major bank.”

While agreeing that it was all about perception, Angus said non-banks’ interest rates were in the lower quartile of most competitive rates. Non-banks like Bluestone have reduced rates for both prime and near prime products and have been waiving risk fees for more loans.

“The biggest challenge we face, and I’ve tried to hit this head-on in my role, is changing brokers’ perceptions. It’s hard, and it requires a lot of work,” he said.

“The biggest challenge we face … is changing brokers’ perceptions.

It’s hard, and it requires a lot of work” James Angus, Bluestone The message does seem to be getting through, though: Angus said the non-banks had all grown significantly in the last 12 months, taking market share from the banks.

“Collectively, we’re taking significant market share off the banks, and I think that is the biggest indication of how people are thinking differently about our capability,” he said.

A predominant part of Mortgage Ezy’s business is in the prime space, and with rates as low as 1.99%, James said the non-banks

18

were taking on the majors “head-to-head”.

Pointing to the shift in the market seen after the best interests duty was introduced, she said more non-banks on panels as well as brokers were looking closely at the true costs of loans, and there had been a swing of volume towards the non-banks.

“It’s evident in the fact that we’re providing products that are competitive on rates and fees, because brokers are selecting more and more non-bank product,” she said.

Mohnacheff added that there was another

evolution with new brokers coming in who were willing to learn more about non-banks.

Engaging with these brokers through Liberty’s BDMs, he said they were responding and understood that non-banks did not just offer non-conforming loans.

Although there was still “a way to go” in changing the perception, he said he believed it would disappear.

“A lot of our growth has been through new brokers coming in. When brokers change aggregators, the aggregator BDMs are saying they want to diversify their portfolio, not just into asset classes but with lenders. So they’re getting this greater spread and continuing education,” Mohnacheff said. “[It’s] debunking the myths that the nonbanks are credit-impaired lenders.”

Noting, too, that borrowers were not necessarily looking for the cheapest home

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loan, Saoud said there should be more education around the solutions offered by non-banks. When you add the pricing to non-banks’ ability to match the customer with the right product and offer shorter turnaround times and strong BDM support, that is where they outperform the banks, he said.

“For the brokers that are probably immature in their business model, they might think they can only compete by giving that consumer the best price, but whether it’s from the regulators’ or from a business perspective, I think it’s important that we look at all factors when recommending the right home loan for that customer,” he said.

There was a simple answer to the question, Bannister said. Price is not a barrier.

“It just gets muddled in the fact that our product offering is much broader than what the banks are offering at the moment,” he said.

“They’re targeting one segment and marketing a headline rate that’s attracting attention, but if you look under the hood, you find that’s not the full picture.”

Turnaround times are brokers’ biggest concern. How have you been making sure you meet your SLAs? Throughout 2020, mortgage brokers became frustrated with blown-out turnaround times.

According to the AFG Index, brokers experienced turnaround times of, on average, 27.3 days at their worst.

Thankfully, it seems the non-banks did not have as much of a problem as the banks. In the Brokers on Non-Banks survey, more than 40% of brokers said non-bank turnaround times had improved over the last 12 months.

Twenty-six per cent of brokers said they had not changed.

In comparison, in the Brokers on Banks survey in 2021, just over 90% of brokers said banks’ turnaround times had worsened.

Bluestone has tackled its turnaround times from a few different angles, Angus said: investing in its people, in technology, and removing pain points.

20

GROWTH IN VALUE OF BROKER-ORIGINATED HOME LOANS Change in value of broker-originated home loans settled per lender category – 1 Oct 2020–31 Mar 2021 compared to previous six months

50% 45%

44.3%

40%

39.9%

35% 30% 25% 23.5%

20%

19.9%

15%

15.5%

10%

13.8%

13.9%

5% 0%

3.3% Major banks

Regional banks Independent International owned by, or regional banks banks aligned to, major banks

Non-bank lenders

Credit unions, building societies and mutuals

White label Any other type lenders of lender

Source: MFAA Industry Intelligence Service, 12th Edition

It rebuilt its entire technology platform, which Angus said gave the non-bank horsepower in terms of workflow tools and the ability to manage the tools better. Seeing areas in which it could improve, Bluestone

and people. I think a lot of our competitors strive for more automation and cutting corners, where we know we’re only as good as the underwriter that speaks with the broker,” Angus said.

“There’s a consumer behind that broker, and we have that notion around fairness and equality: it doesn’t matter who’s originated that loan” Barry Saoud, Pepper also automated its valuation process.

Being a “people-based business”, the nonbank also ensured it had the right number of people in its underwriting and support teams before going after growth. It has doubled its support teams and increased its underwriters by 35–40%.

“We have a different mindset around FTE

“So we’ve invested heavily in people, not only hiring but also training, onboarding, investing in their professional capability.”

People and technology are big factors for Resimac as well. The non-bank is also introducing a new core origination system. But Carde said it was important to not confuse technology with full auto-decisioning. The

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digital tools are helping to make the backend processes more efficient, meaning underwriters will have more time to work on a greater number of loans as they can push them through faster.

On top of improving processes, Carde

time, and they’re back-end policies and processes that brokers don’t necessarily see, but they do add to the overall time frame. You can review what value they have added over a period of time and then make a risk decision as to whether you can lessen the amount of loans

“Non-banks have really been able to step in and fill that void for customers that would ordinarily be taken up by the major banks” Cory Bannister, La Trobe Financial said Resimac looked at the policies it had in place and how they could be improved to provide better SLAs. “We have had policies in place historically to provide a degree of mitigation for some risks you might be taking, for instance,” he explained.

“You can review those policies over

you need to put across that particular process, because the actual risk to the business is nominal.”

Similarly, Saoud said Pepper Money had invested in its people and technology, building its own proprietary system, which it is currently transitioning to.

But he added that it was also about planning.

The non-bank was able to forecast its volumes and have the right number of people to ensure it could make the credit decision. As a result, Pepper Money has had SLAs of one day, on average, throughout this year.

“It’s all about having the right people, investing in the systems, and leveraging a combination of those two to support the brokers,” he said, also pointing out that the non-banks did not have varying turnaround times depending on the borrower’s channel of choice and the value of the loan.

“We treat all brokers fairly, because at the end of the day there’s a consumer behind that broker, and we have that notion around fairness and equality: it doesn’t matter who’s originated that loan.”

One of the problems Mohnacheff believes brokers have faced in dealing with banks over the past two years is lack of accessibility.

He said brokers had become frustrated with not being able to speak to anyone at the banks when they needed an immediate answer – but that is where the non-banks won.

“They have a lot of options [to contact non-

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NON-BANKS ROUNDTABLE 2021

NON-BANKS’ MARKET SHARE OF BROKER BUSINESS Value and market share of broker-originated business to non-bank lenders Value of loans settled

Market share

$5bn

12%

$4.5bn

11% 9.6%

$4bn

8.9%

$3.5bn

7.5%

8.0%

10% 8.3% 7.6%

9%

8.3%

8%

6.9%

$3bn

5.7%

5.6%

$2.5bn

4.6%

$2bn

4.9%

7% 6.3%

6.0%

4.7%

5.5% 5.0%

2.1%

1.9%

2.2% 2.5%

2.8%

2.4%

2%

$0.5bn $0bn

5%

3%

3.4%

2.5%

6%

4%

3.5%

$1.5bn $1bn

7.7%

9.2% 9.4% 8.7%

1% Jul- Oct- Jan- Apr- Jul- Oct- Jan- Apr- Oct- Jan- Apr- Jul- Oct- Jan- Apr- Jul- Oct- Jan- Apr- Jul- Oct- Jan- Apr- Jul- Oct- Jan- Apr- Jul- Oct- JanSep Dec Mar Jun Sep Dec Mar Jun Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar 13 13 14 14 14 14 15 15 15 16 16 16 16 17 17 17 17 18 18 18 18 19 19 19 19 20 20 20 20 21

0%

Note: No data was available for the July–September 2015 quarter Source: MFAA Industry Intelligence Service report, 12th Edition

banks]: they can ring their BDM, they can ring their state manager, the lender’s BDM, they can go online, we’ve got help centres, they can ring underwriters, settlements. There’s a lot of contact points,” Mohnacheff said.

“Wherever the broker’s pain point may be, they will have access to that individual, and that’s what non-banks bring: real, genuine human contact and easy resolution. Meeting your SLA is more like meeting your client’s immediate needs, and that’s what the nonbanks do a lot.”

22

On the technology front, James said the non-banks had led the way in transitioning to a fully digital process, allowing individual assessors to have more time for the “personal touch”. Added to that, she said the limited amount of documentation required up front was also helping keep turnaround times at bay.

“In terms of collecting documents and gathering documents from clients, it can often be weeks before brokers have the paperwork ready to submit to a lender,” James said. “So having more flexible policies

that are still prudent and require less documentation up front, I think that’s also a strength of non-bank lending.”

What impact do you think APRA’s recent changes will have on the market and on brokers?

In October, APRA increased the minimum interest rate buffer it expected banks to use when assessing the serviceability of home loan applications. The rate increased from 2.5% to 3% – and although most banks were

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already going above the original rate, some have started to increase their rates further.

Calling it a “large and interesting situation”, Angus said the changes would probably create the biggest tailwinds for the non-bank space that they had seen for some time.

The non-banks were not included in the APRA changes – and he said any later measures the regulator might introduce down the track would probably not apply to them.

Angus pointed to previous measures introduced by APRA, such as the caps on investor lending and interest-only lending, where banks had to turn borrowers away. Although this would have a “devastating impact on not only the customer but also the broker’s confidence”, it provided an immediate opportunity for non-banks.

“I think also there might be a bit of a shift in the mindset of brokers to say, I wonder if I’m going to take the risk of putting all my eggs in one basket, knowing there might be a few hiccups along the way. I might actually broaden my horizon around the lenders I work with and start to work with a few other lenders where I know this is not going to be an issue for them,” Angus said.

Seeing things from a different perspective, Carde said it would be more relevant if additional measures came into place, like debt-toincome caps. As it stands, though, he said the changes would only affect a certain part of the market and would probably not be enough to address the underlying problem.

“It’s not just about stability in the financial services market, it’s about the rampaging house prices. So, if it doesn’t have the desired effect, I have no doubt that we’ll see future changes,” Carde said.

Bannister added that it was important that non-banks continued to be excluded from the recent changes. Because non-banks were able to individually assess a customer’s circumstances and ability to repay the loan, they could continue to provide credit appropriately to those creditworthy borrowers that might just miss out “at the margins” but represented good prospects once a deep-dive into their customers had been undertaken.

24

“Having more flexible policies that are still prudent and require less documentation up front is a strength of non-bank lending” Joanna James, Mortgage Ezy WHAT IS THE MAIN BARRIER TO PUTTING MORE BUSINESS THROUGH THE NON-BANK LENDERS?

9.35%

4.68%

8.99%

4.68% 1.44% 1.80% 41.73% 27.34%

Customers want a branch network

Poor service

Higher rates/fees

Poor turnaround times

Lack of brand awareness

They are not on my aggregator’s panel

Poor commission

Other

Source: MPA Brokers on Non-Banks survey, 2021

“Otherwise, not only do you have people that are marginalised, you have the potential to create ‘mortgage prisoner’ situations where people are locked into loans that they can’t get out of due to stress test hurdles as a result of a broad regulatory control, not because of their credit profile or their serviceability capacity,” Bannister said.

Australia’s house prices skyrocketing by 22% in a year was a much “graver situation” than had been touched on yet, Mohnacheff added. Considering the economic stress, he said it was unprecedented to see prices climbing so high, and it was no surprise that APRA was concerned about affordability.

“They’re going to start to pull some levers

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to try and cool it, and so we’re very closely watching what the impacts are, whether it’s going to cool the housing market, because if it doesn’t begin to cool and cool quickly, I think APRA will come down a little bit harder,” he said.

As brokers navigate the changes, James said non-banks would be there to support them in understanding how to complete servicing calculators. She said there was a lot of complexity and nuances product by product, and also pointed out that nonbanks did not credit score, which could be important moving forward.

“Brokers are going to start to think about putting applications up to mainstream banks, where if they will get a decline their client’s file will be marked, which will then affect their ability to lend further forward,” she said.

“Brokers will have a prudency to consider that with what they do moving forward.

I think the fact that we all have teams on the ground that help brokers understand the nuances of products and servicing calculators will also be key in assisting borrowers.”

ARE CLIENTS TYPICALLY OPEN TO CONSIDERING NON-BANK PRODUCTS?

In MPA’s 2021 Brokers on Non-Banks survey, 90% of brokers said their clients were happy to use non-banks. What do you think has changed? How do you think non-banks can continue to compete against the banks?

Ninety per cent of brokers said their clients were happy to use non-bank lenders in this year’s Brokers on Non-Banks survey – 20% up on 2020. On what could have driven this increase over the past 12 months, Saoud

No

10%

90% Yes Source: MPA Brokers on Non-Banks survey, 2021

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said that, as a result of COVID-19 and changing borrower circumstances, brokers were looking for market-leading turnaround times, strong BDM support and continued investment in online platforms and digital tools to create consistency of service.

“For Pepper, it’s continuing to invest in those key factors that brokers are seeking, to

really try and simplify it from an efficiency perspective and a consistency,” Saoud said.

“But also understanding that there is a customer at the end of the application, that they want confidence and speed in that home loan approval. That’s something we need to consistently deliver for our customers and brokers.”

The number of brokers using Resimac for the first time during the last financial year was “astounding”, Carde said, but it was important to keep that going. He said Resimac needed to capitalise on the opportunity that had been created, and now was the time to deepen those broker relationships to ensure the non-bank was front of mind more often.

Ultimately, Carde said, it came down to education. “It’s a long, hard slog to get the message out there, but that’s really what it’s about. It’s about education and changing that perception,” he said.

“We have competitive products, and we have a great service proposition both pre and post settlement. What’s not to like?”

With consistency being so important over the past year and a half, Bannister said brokers were more trusting of the non-banks.

Throughout the stress of the pandemic, the non-banks had proved they could continue to offer great service and products.

“Customers and brokers are now really accepting that the seasoned non-bank businesses today are different to the non-bank businesses that were around pre-GFC, certainly with respect to their size and scale,” he said. “I think there’s now an acceptance that it’s a really mature industry, well regulated and well managed.”

Asked how Mortgage Ezy would continue to ensure brokers trusted the business, James said the non-bank space had grown out of third party distribution, and it offered loyalty to customers and brokers that the banks might not demonstrate.

HAVE NON-BANKS’ TURNAROUND TIMES IMPROVED OR WORSENED OVER THE LAST YEAR?

Improved significantly

9.35%

31.29% Improved

No difference

Worsened

26.26%

25.90%

7.19%

Worsened significantly Source: MPA Brokers on Non-Banks survey, 2021

26

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“We will genuinely help [brokers] grow their business. Because the more they grow, the more we grow as a finance community” John Mohnacheff, Liberty Financial She said an example of this was how the non-bank genuinely looked after clients for the life of the loan, conducting reviews as their needs changed to see if their interest rates still worked for them – all while protecting the broker-client relationship. For instance, if the client wanted to increase their loan amount to do a renovation, and the broker did not want to write it, Mortgage Ezy would assist them and continue to pay the trail.

“We will look after their business, and that’s

at the core of non-bank lending,” James said.

“I think it really demonstrates that we are trustworthy with broker clients and that we are able to balance our requirements to look after clients but also look after our brokers too. Non-bank lending has grown out of that distribution channel, and we’ve stood the test of time.”

Mohnacheff put the shift in broker sentiment down to several factors, including the non-banks’ commitment to innovation.

He said it was not just about creating something “shiny and new” but about something that “actually resonates” and has relevance to brokers.

On top of that, non-banks have been educating brokers in areas such as how to diversify their businesses.

“Innovation and relevance are critical to the way we evolve and remain at the absolute vanguard of the broker’s attention,” he said.

Mohnacheff also called out the impact of the royal commission, in which the nonbanks stood up for the broking community.

“I think that is starting to resonate more and more that we are the trusted ally in their businesses, and we will genuinely help them grow their business. Because the more they grow, the more we grow as a finance community,” he said.

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17/11/2021 1:36:58 AM

Congratulations!

CommBank is proud to support MPA’s Top 100 Brokers 2021 report.

A sincere thank you for your dedication to helping your customers achieve their dreams of home ownership.

Better together. commbroker.com.au 13 25 88 Your dedicated Relationship Manager

Things you should know: Applications are subject to credit approval. Terms, conditions, fees and charges apply. Commonwealth Bank of Australia ABN 48 123 123 124 Australian credit licence 234945.

14-28 Non Banks Panel_SUBBED2.indd 28

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SPECIAL REPORT

MPA presents the very best brokers in Australia, ranked by total value of loans written in the 2021 financial year

CONTENTS

PAGE

Feature article .............................................. 30 Methodology ................................................ 30 Top 100 Brokers list ..................................... 33 Profiles .......................................................... 36

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SPECIAL REPORT BUSINESS STRATEGY

TOP 100 BROKERS

RECORD GROWTH IN A CRITICAL YEAR AFTER A YEAR of record-breaking home loan figures, in which broker market share reached a new high, it’s no wonder the settlement numbers of 2021’s MPA Top 100 Brokers have also smashed records.

In FY21, top broker Justin Doobov wrote almost $423m – the highest figure MPA has seen on this list. Previously, the highest value written was $360m in 2017, also achieved by Doobov. The value reported by the number two broker this year – Mark Davis – also broke the original record, but at $362m was not quite enough to take the top spot.

The top brokers’ 2021 figures are impressive enough, but even more so when compared to previous years’ results.

In 2019, the value of home loans written by the top broker dropped below $200m.

The combined value of settlements across all brokers showed decreasing numbers for the fourth consecutive year, reflecting the environment during and post the banking royal commission.

It’s encouraging to see that the numbers in 2021 have not only bounced back but risen higher than ever before, which is especially

Brokers’ figures this year have shown just how well the industry has done despite extra regulation, lengthy turnaround times and the challenges of moving to remote working Incredibly, the total value of home loans written across the entire Top 100 in 2021 was about $4bn higher than ever before. This is not surprising given the incredibly high numbers across the entire list.

To break into the Top 100 this year, a broker needed to write at least $98,204,047; last year, the barrier was much lower, with the lowest value of loans written in FY20 at $74,601,243.

It’s not just a matter of loan sizes being higher this year; the average number of home loans written by the top brokers was 270, up from 210 last year.

30

notable after the confusion and complexity of the market during the pandemic.

METHODOLOGY To find the Top 100 Brokers in 2021, MPA asked brokers across the industry to submit the total value of loans they had written over the last financial year. In the submission form, brokers were also asked to state the number of loans they had written so MPA could determine their average loan size.

Brokers were also asked for their figures from the 2020 financial year to show how much their loan values had changed since then, as well as for the proportion of interest-only loans on their books, and their conversion rates.

The Top 100 list was determined and ranked based on the value of loans written between 1 July 2020 and 30 June 2021. The broker with the highest value of loans took first place.

$14.16bn Combined settlements value of the Top 100 Brokers

Record-breaking lending values It would have been difficult to foresee such high numbers at the onset of COVID-19 in 2020, when there were fears that the uncertainty would dampen borrower sentiment.

But in fact the Australian market quickly saw a huge rise in borrower activity.

In the earlier months of the pandemic there was a particular surge in refinancing, which is where most brokers saw their activity come from. Refinancing was

69% Increase in the total value of residential loans written by 2021’s Top Broker

26,990 Total number of loans written by the Top 100 Brokers

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FROM THE SPONSOR

Adam Croucher General manager, third party banking, Commonwealth Bank

We are incredibly proud to be able to sponsor the Top 100 Brokers for 2021. We want to congratulate you on continuing to raise the bar and help set the standard for excellence within the mortgage broking industry.

At CommBank we know that we’re better together, so the team and I are committed to continually improving the experience and strengthening our partnerships so we can build a strong and sustainable third party channel that supports you to deliver exceptional customer outcomes.

It’s important that we take time to reflect on the achievements of all Top 100 Brokers. A sincere thank you for your exemplary hard work and dedication to ensuring that you provide the best experience for your customers, and to helping them achieve their dreams of homeownership.

Again, congratulations to everyone who made this illustrious list in 2021!

In numbers not seen since 2009, loan commitments by first home buyers reached above 10,000 in July 2020 already looking high in the first couple of months of 2020, but in May of that year, refinance figures for both investors and owner-occupiers surpassed $14bn – $4bn more than in January.

In the months that followed, refinancing

figures bounced around, but in the final two months of FY21 they surged again and ended the financial year above $16bn.

Borrowers still wanted to purchase homes, though. The total value of home loans reached a record $23bn in November

TOP 100 BROKERS BY AGGREGATOR, GENDER

Aggregators Connective

26 13

Loan Market

11

AFG Mortgage Choice

10 Men vs women

87

13

2020 and continued to grow each month until it peaked in May 2021 at an incredible $32.56bn.

The latest lockdowns may have contributed to a slight drop in figures, but they remained above $30bn even in August.

First home buyers were a particular driver of the heightened demand last year, as they took advantage of low interest rates and government incentives like the First Home Loan Deposit Scheme. The scheme meant that eligible first home buyers could purchase a home with as little as a 5% deposit.

In numbers not seen since 2009, loan commitments by first home buyers reached above 10,000 in July 2020. The numbers climbed higher each month, peaking at 16,257 in January 2021. Although they have since dipped, first home buyer loans have remained above 12,000.

At peak numbers, first home buyers made up about 42% of all loan commitments for dwellings.

The increase in total home loan values written by brokers in 2021 can be put down to more than one factor. Beyond simple demand, rising house prices have played a big role in driving the record values. By the end of October 2021, average house prices across all capital cities in Australia had risen by just over 20% year-on-year.

According to last year’s Top 100 Brokers report, Sydney’s median dwelling value was then $859,943. This year, CoreLogic’s October 2021 figures showed the city’s median dwelling value to be $1,071,709.

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31

SPECIAL REPORT BUSINESS STRATEGY

TOP 100 BROKERS

TOP 100 BROKERS BY STATE

NT

0 brokers

QLD 6 brokers Top value: $174,021,884

WA 3 brokers Top value: $159,225,330

SA 1 broker Top value: $110,698,177

NSW 58 brokers Top value: $422,884,964

ACT

VIC

4 brokers Top value: $161,072,000

26 brokers Top value: $362,298,070

TAS

2 brokers Top value: $140,774,000

The total value of home loans written across the entire Top 100 was about $4bn higher than ever before Every capital city has recorded monumental increases in dwelling prices, but the biggest change was in Hobart, which has seen a 28% year-on-year hike.

With low interest rates and high house prices, regulators have become concerned at the high debt-to-income ratio borrowers have been taking on. As a result, APRA announced in October that it would be increasing the minimum interest rate buffer that banks are expected to use when assessing the serviceability of a home loan.

By increasing the rate from 2.5% to 3%,

32

APRA expects the maximum borrowing capacity for the typical borrower to reduce by around 5%.

Challenges faced by brokers The pandemic period has meant brokers have needed to drastically adapt their business models, not just to handle the increase in business but also to ensure they could operate their businesses in a virtual environment. Brokers had to switch to working from home very quickly, which meant they had to not only move their teams to remote

systems but also change the way they communicated with their clients.

Jabsons Finance founder Parth Shah says the biggest challenge for him was moving to remote working. As a broker who loves being face-to-face with his clients, he had to learn how to use new technology and then implement it within his business.

“I’m very old-school, so I prefer to see people face-to-face and generate business that way, and we were a very small team based in the office, so it was very challenging for me,” he says.

“We tried a few different things and luckily that worked, and we were able to continue servicing our clients.”

Shah also points out that in the five years since he became a broker, the broking industry has had to overcome constant challenges, such as changes coming from APRA and the royal commission.

Top broker Justin Doobov is also concerned about the level of regulation introduced in the industry. Reflecting on his last 20 years as a broker, he says he used to spend 20% of his time working on loan applications and the rest on value-add services. But now, 90% of his time is spent getting the loans approved.

“The regulation was all about putting the customer first so the customer wasn’t going to get ripped off, but it’s removed the service element of all broker business because brokers used to have a lot more time to service the customer, where now you spend most of the time collecting documents and filling in paperwork,” he said.

Brokers’ figures this year have shown just how well the industry has done despite the extra regulation, lengthy turnaround times, and the challenges of moving to remote working.

Read more about the experiences of some of MPA’s Top 100 Brokers over the following pages. Congratulations to everyone featured in this year’s list.

Several of MPA’s top brokers will also be appearing on www.mpa.com/au/tv.

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Company

State

Total value of residential loans 1 July 2020–30 June 2021

Total number of residential loans 1 July 2020–30 June 2021

Justin Doobov

Intelligent Finance

NSW

$422,884,964

627

Mark Davis

The Australian Lending & Investment Centre

VIC

$362,298,070

915

Cullen Peter Haynes

Legal Home Loans

NSW

$341,570,595

382

Phone: 1800 4634 6489 Email: info@infinity.com.au Website: infinity.com.au

Infinity Group Australia

NSW

$314,759,749

731

Name

1 2 3

Graeme Holm

4

5

Jordan Beh

Insight Property Finance

NSW

$244,200,000

394

6

Kin Wong

One Solutions

NSW

$236,851,415

333

7

Josh Bartlett

Mortgage Advice Bureau

VIC

$228,000,000

377

8

Daniel O’Brien

PFC Financial Services

NSW

$222,098,370

407

NSW

$205,128,000

215

VIC

$204,423,404

505

NSW

$185,388,805

161

VIC

$177,568,589

507 485

9

Stephen Michaels

Catalyst Advisers

10

Sarah Thomson

Loan Market Geelong City

11

Chris Bates

Wealthful

12

Josh Egan

Astute Melbourne City South and Gippsland

13

Deslie Taylor

Mortgage Choice

QLD

$174,021,884

14

Russell Munfaredi

Mortgage Pros

NSW

$173,520,841

275

15

Thaer Burbar

Greenline Home Loans

NSW

$171,250,000

250

Hung Chuy

Strategic Brokers

NSW

$166,308,935

233

Phone: 02 8896 7604 Email: info@uniquefinanceservices.com Website: www.uniquefinanceservices.com

Unique Finance Services Pty Ltd

NSW

$165,580,190

355

18

Gerard Tiffen

Tiffen & Co

ACT

$161,072,000

375

19

Kevin Agent

The Australian Lending & Investment Centre

VIC

$160,800,031

450

20

Balpreet Bal

Loan Market

WA

$159,225,330

385

21

Andrew Algie

Addisons Advisory Group

NSW

$158,262,984

222

22

Harry Cui

Mortgage Pros

NSW

$155,335,076

265

WA

$153,801,668

249

369

16

Vishal Gupta

17

Helen Avis

23

Phone: 08 9205 6828 Email: helen@smats.net Website: www.smats.net/finance

SMATS Services

24

Simon Sutterby

Geelong Financial Group

VIC

$152,000,000

25

Olive Lum

AAA Mortgages

NSW

$151,300,000

66

26

Sze Chauh

MLS Finance

NSW

$150,655,417

494

27

Jacob Decru

Loan Market One Network Broking

VIC

$149,185,543

305

28

Hank Hong

Mortgage Pros

NSW

$146,501,462

205

29

Fabio De Castro

Oxygen Home Loans

NSW

$145,687,934

238

30

Paddy O’Sullivan

Mortgage Choice

NSW

$145,490,530

388

31

Natasha Choi

The Australian Lending & Investment Centre

VIC

$144,376,277

384

32

Kelly Cameron

Get Real Finance

QLD

$142,741,025

322

33

Kirsty Dunphey

Up Loans

TAS

$140,774,000

543

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SPECIAL REPORT BUSINESS STRATEGY

TOP 100 BROKERS

Name

Company

State

Total value of residential loans 1 July 2020–30 June 2021

Total number of residential loans 1 July 2020–30 June 2021

NSW

$138,658,000

155

VIC

$137,207,775

337

34

Rajan Khatak

Your Finance Adviser

35

Andrew Mirams

Intuitive Finance

36

Aaron Christie-David

Atelier Wealth

NSW

$136,974,089

208

John Fisher

Pitcher Partners Sydney Lending Services

NSW

$136,828,022

99

Phone: 04 0559 3807 Email: parag.dixit@nfinityfinancials.com Website: nfinityfinancials.com

Nfinity Financials

NSW

$136,574,226

234

39

Damien Roylance

Entourage

VIC

$135,948,468

121

40

Daniel Zarkovic

Loan Market

NSW

$134,460,772

208

41

Ryan Ewart

Mortgage Choice

NSW

$133,907,849

279

42

Fane Levy

Shore Financial

NSW

$133,587,890

131

43

Marvin Coleman

Mortgage Choice

VIC

$133,063,038

362

37

Parag Dixit

38

44

Paul Wright

MoneyQuest Wollongong

45

Daniel Gold

Long Property

NSW

$133,039,251

478

VIC

$131,456,428

236

46

Louis Kovanis

Genius Loan Solutions

NSW

$131,114,694

140

47

Anthony O'Flynn

IFA Mortgages & Finance

NSW

$131,000,000

247

48

Zain Peart

ZEP Finance

NSW

$130,967,307

291

49

Matt Pongrass

Certe Finance

NSW

$129,050,305

64

50

David Thurmond

Mortgage Choice

VIC

$126,554,534

344

51

Charles Hemmings

Shore Financial

52

Toby Edmunds

Loan Market

53

Karen Bashford

54 55 56

NSW

$125,445,178

111

VIC

$125,400,205

233

South Coast Business and Financial Solutions

NSW

$123,289,307

847

Daniel Pym

Loan Market Double Bay

NSW

$122,955,993

98

Alex Nochar

Shore Financial

NSW

$121,956,500

81

Sam Carrello

Napoleon Finance

WA

$121,940,100

261

57

Paul Hixon

Loan Market

QLD

$121,280,503

188

58

Josh Gilbert

Loan Market

VIC

$121,159,253

188 277

59

Nathan Aird

Universal Mortgage Experts

NSW

$120,066,933

60

Luke Camilleri

Smartline

NSW

$118,741,001

176

61

Scott Partridge

Mortgage Choice

NSW

$117,771,276

234

62

Ian Simpson

Smartline

NSW

$116,400,000

182

63

Redom Syed

Confidence Finance

NSW

$114,940,789

223

Gloss Finance

TAS

$113,439,019

309

Cinch

VIC

$113,256,000

198

Narelle Kerstan

64

Phone: 03 6224 4460 Email: nkerstan@glossfinance.com.au Website: www.glossfinance.com.au Suvidh Arora

65

34

Phone: 0458 872 992 Email: suvidh@cinch.loans Website: www.cinch.loans

66

Patrick Bouquiaux

Tiffen & Co

ACT

$113,118,261

204

67

Zhijian Chen

MoneyQuest Surrey Hills

VIC

$112,948,109

178

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Name

Company

68

Stephen Lemm

Mortgage Choice

69

Jordan Chantry

Trinity Finance Group

State

Total value of residential loans 1 July 2020–30 June 2021

Total number of residential loans 1 July 2020–30 June 2021

NSW

$112,432,041

172

VIC

$112,197,048

153

70

Derek Farmer

Shore Financial

NSW

$111,190,168

108

71

Matthew Oughtred

Francis Rose Finance

NSW

$110,700,100

155 394

72

Scott Marshall

The Loan Arranger

SA

$110,698,177

73

Lee Rosenfeld

Innovative Home Loans

NSW

$110,012,848

155

74

Leanne Johnstone

Mortgage Choice

NSW

$108,978,280

212

Ortus Financial

NSW

$108,921,000

94

VIC

$108,839,578

335

Adam Rakowski

75

Phone: 04 0745 5553 Email: adam.rakowski@ortusfinancial.com.au Website: www.ortusfinancial.com.au Parth Shah

76

Phone: 04 3010 7311 Email: parth@jabsonsfinance.com.au Website: www@jabsonsfinance.com.au

Jabsons Finance

77

David Friend

Tiffen & Co

ACT

$108,805,410

225

78

Alex Veljancevski

Eventus Financial

NSW

$108,132,511

288

79

Scott Durrant

Successful Ways

NSW

$108,033,429

183

80

Adam Bradley

Emerge Finance

QLD

$108,000,000

211

More Than Mortgages

ACT

$106,863,840

314

NSW

$106,729,282

109

Deanna Ezzy

81

Phone: 02 6188 4555 Email: deanna@morethanmortgages.com.au Website: www.morethanmortgages.com.au

82

Matt Clayton

Loan Market Lower North Shore

83

Stephen McClatchie

Loans Australia

VIC

$104,666,582

173

84

Sakib Manzoor

Secure Finance Services

NSW

$102,578,734

197

85

Brenden Lowbridge

Money Links

NSW

$102,431,887

221

86

Hannah Nguyen

Loan Market

VIC

$101,814,400

212 201

87

Matthew Punter

The Savings Centre

QLD

$101,806,156

88

Amilia Pignone

LendX

NSW

$101,324,595

99

89

Jonathan Valentino

Catalyst Advisers

NSW

$101,191,000

117

90

Atik Shah

Capabel Finance

VIC

$100,523,200

277

91

Thomas Morison

Smartmove Professional Mortgage Advisors

NSW

$100,490,535

110

92

Chris Hill

Smartmove Professional Mortgage Advisers

NSW

$100,213,164

87

NSW

$100,085,000

118

VIC

$100,081,455

125 208

93

Max Harris

Azura Financial

94

Andrew Baker

Port Finance Group

95

Mark Stevenson

Bell Partners Finance

NSW

$99,588,359

96

Julian Collins

Mortgage Choice

QLD

$99,561,732

353

97

Debbie Worthington

Mortgage Choice

NSW

$99,509,034

340

98

Mark Polatkesen

Mortgage Domayne

VIC

$98,951,719

261

99

Hardik Shah

Loan Gallery Finance

VIC

$98,286,058

200

100

Mitesh Dedhia

Think & Grow Finance

VIC

$98,204,047

249

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SPECIAL REPORT BUSINESS STRATEGY

TOP 100 BROKERS

S

65

SUVIDH ARORA Founder and CEO, Cinch

Phone: 0458 872 992 Email: suvidh@cinch.loans Website: www.cinch.loans

uvidh Arora has a passion for managing finances and nearly two decades of experience in the field.

The Cinch founder and CEO started his business (formerly Exceller8 Financial) in July 2019 and has come a long way since then. Under his capable leadership, business volumes have skyrocketed by 120% year-over-year for the past two financial years. The team has also grown from the initial two brokers located in Melbourne to 11 brokers spread across Victoria, NSW, Queensland and the ACT, plus offshore staff.

Arora is dedicated to helping Australians find the right financing solutions by paying closer attention to their financial objectives and providing them with consistent service and innovative solutions.

His goal? To make Cinch a household name in lending – “one that people associate with simplicity, as well as educating”.

“Clients want to be heard and know that you understand what they’re trying to achieve,” Arora said. “They also want to be educated along the way, which helps assure them and give them comfort in the process. Communication is always key.”

Prior to Cinch, Arora held a range of consultancy/advisory and business development roles in Australia, Hong Kong, India and the UK. He holds an MBA in strategy, finance and mergers and acquisitions from Cranfield University.

P

38

PARAG DIXIT

Director and mortgage broker, Nfinity Financials

Phone: 04 0559 3807 Email: parag.dixit@nfinityfinancials.com Website: nfinityfinancials.com

36

arag Dixit, founding director and mortgage broker at Nfinity Financials, has more than two decades of financial services experience and a vast knowledge and understanding of various lending products and structures.

He started Nfinity Financials in June 2019 after 10 years of leading a team of more than 10,000 staff in a highly successful, India-based financial services company. From a single-man brokerage, the Sydney-based company has grown to include three other brokers plus three additional employees. Dixit also started an offshoring business, PROOWRX, and now has more than 10 employees overseas who handle mortgage outsourcing for Nfinity and other brokers.

Dixit enjoys working on challenging tasks and providing his clients with the right solutions. He said his career goal was to maintain business of more than $200m every year from the current business year. He also looks forward to Nfinity’s future growth driven by the company’s great referral arrangement with partners and its increasing online presence.

Dixit uses his vast knowledge, discipline and energy to mentor many brokers. He ranked among RateMyAgent’s Top 10 Mortgage Brokers of the Year in 2021 and in the top four in NSW. Dixit also enjoys investing in stocks and keeping himself fit.

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81

DEANNA EZZY

Director and primary mortgage broker, More Than Mortgages

Phone: 02 6188 4555 Email: deanna@morethanmortgages.com.au Website: www.morethanmortgages.com.au

D

eanna Ezzy is the lady boss and funding adviser extraordinaire at More Than Mortgages (MTM). With over a decade of industry experience and several accolades under her belt, Ezzy spends most of her time performing her duties as MTM’s senior broker/adviser. She is also busy looking after her team, working on new business processes and mentoring others in the industry.

The past year has been very productive and rewarding for this Townsville-born broker. Ezzy achieved her personal best of $106m in settlements and was able to expand her team from four to 10, move to a larger office space and switch aggregators.

Personally, she bought her forever home, got engaged and started building a new property for her mum.

Ezzy is now working to fully implement a new process to leverage each of her team members’ strengths and give junior brokers plenty of experience. She is seeking to hire a couple more members and create an MTM procedures manual as well as a roles and responsibilities manual for each team member. Ezzy also has her hands full developing MTM’s new website and marketing strategy.

Ezzy recently received the Business of the Year 2020 award at the BX Business xCellence Awards in Sydney. She has featured in the Top 100 list for seven years in a row.

17

VISHAL GUPTA Founder and director, Unique Finance Services

Phone: 02 8896 7604 Email: info@uniquefinanceservices.com Website: www.uniquefinanceservices.com

U

nique Finance Services director Vishal Gupta established his brokerage in 2011. He has more than two decades of finance, credit, risk and mortgage advisory experience and a strong educational background in finance and business administration.

Over the past year Gupta has led his team in maintaining steady growth and keeping themselves mentally fit, motivated and focused during a challenging time for the mortgage industry. Under his charge, Unique Finance Services has embraced change to become virtual, paperless and put the right tools in place to continue operations in the shortest span of contingency planning.

Gupta says he is proud to have been one of MPA’s Top 100 Brokers for more than half a decade.

“I’m always humbled to be part of the best MPA Top 100 brokers in Australia,” said Gupta. “It motivates me to do better and do what I’m really good at – finding the best solution for my clients and their interests.”

Gupta plans to continue his passion for finance and mortgage broking, helping his clients achieve their financial goals, providing exciting and challenging growth paths for himself and his colleagues, and making a difference in the industry by being different and diversifying his business.

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SPECIAL REPORT BUSINESS STRATEGY

TOP 100 BROKERS

N

64

NARELLE KERSTAN Director and mortgage broker, Gloss Finance

Phone: 03 6224 4460 Email: nkerstan@glossfinance.com.au Website: www.glossfinance.com.au

arelle Kerstan has worked in lending in Hobart since 1993 and as a broker since 2003. As director and mortgage broker at Gloss Finance, she specialises in home and investment lending, construction loans and debt consolidation, and has extensive industry experience in the Tasmanian market.

Kerstan is a member of the prestigious PLAN Sales Masters Group, made up of the top 200 brokers in Australia, and one of her key achievements is being listed in its top 20 for Excellence in Finance.

She has also been nominated in three categories of the Better Business Awards and just recently in The Adviser Australian Broking Awards.

Professional, customer-focused and passionate, Kerstan balances being a single mum with running a successful business.

She loves helping people find great finance solutions – that and spending quality time with her son. On her reaction to making the Top 100, she says, “I felt a real internal satisfaction that I actually accomplished all this on my own with my wonderful support staff.

My drive, commitment and love for the job got me to this level.”

Kerstan has a Diploma in Financial Services and a Certificate IV in Financial Services (Finance/Mortgage Broking), a Certificate III in Mortgage Lending, and is a full member of the MFAA. She completed the MLC Strategic Leadership Program at Stanford University School of Business.

A

75

ADAM RAKOWSKI Principal, Ortus Financial

Phone: 04 0745 5553 Email: adam.rakowski@ortusfinancial.com.au Website: www.ortusfinancial.com.au

38

dam Rakowski started his broking business after a 15-year corporate career at Macquarie Bank. He founded Ortus Financial in August 2019 and throughout the last financial year was a one-man operation, performing every single step of the mortgage process.

During that time, Rakowski had the good fortune to handle some large home loans – the largest worth $7.5m. He was able to organically grow his settlement numbers by 53% and achieve close to a 90% conversion rate from lodgement to settlement. Rakowski is also proud that his brokerage’s post-settlement client care program has resulted in a 98% client retention rate. The exponential growth of his business led to the recent hire of two support staff.

Rakowski says about his Top 100 win: “I’m extremely proud to receive the recognition in such a competitive industry, full of fantastic operators. It’s also humbling to be in this position after less than five years in the industry, and it gives me the energy to keep going and improve further this coming year.”

Rakowski is now focused on sustainably growing the business, while maintaining his firm’s settlement conversion rates and client retention rates. He is looking forward to growing the business further and employing more staff, with the goal of rewarding these staff with equity in the business down the track

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Direc Gloss

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PARTH SHAH Founder, Jabsons Finance

Phone: 04 3010 7311 Email: parth@jabsonsfinance.com.au Website: www@jabsonsfinance.com.au

T

o win a place in the Top 100 list after just five years in the industry is an incredible achievement for the founder of Jabsons Finance, Parth Shah.

What makes it even more important to him is that he did not come from a finance background.

In fact, Shah was very happy in a fulltime role in a different industry, but a bad experience with a mortgage broker changed his path. After his wife became pregnant, the couple decided to purchase a new home, but he says the mortgage broker never took the time to understand their goals.

The valuation of their existing property came up short, and the couple began cleaning houses at weekends to try to make up the rest of the money.

“By the time I completed the process of finalising the loan and building the house, I knew a lot about mortgage broking, I had read a lot of books and

spoken to a lot of mortgage brokers and bankers,” Shah says.

Still not able to get the right help when later trying to purchase an investment property, Shah began doing a course in finance, though he didn’t intend to pursue it as a career. It was not until friends came to him for help and then referred their other friends to him that he decided to quit his job and work as a mortgage broker full-time.

Five years later, this is the first time Shah has applied for an MPA Top 100 listing.

Although he’s faced challenges over the last 12 months, he says avoiding ‘shiny object syndrome’ and having an amazing team and family has helped him get to where he is today.

“My team are my pride. Our team leader, loan processing team, settlements and compliance team have gone above and beyond for each and every client of ours, and without them this would not be possible,” Shah says.

Built on the mantra of “respect”, Jabsons Finance’s main customer base is investors with multiple properties. Shah says he tells them no when something can’t be done, and he constantly communicates with them during the process and afterwards as well.

“They needed someone like us in their corner,” he says. “They know the advice is coming from an expert who has done this multiple times, so they can rely on our advice. Our clients know that when it comes to making decisions they can make the right choice with confidence.”

Aggregator: FAST Total value of residential loans FY21: $108,839,578 Number of residential loans FY21: 335

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SPECIAL REPORT BUSINESS STRATEGY

TOP 100 BROKERS

23 HELEN AVIS

Director of finance, SMATS Group

Phone: 08 9205 6828 Email: helen@smats.net Website: www.smats.net/finance

A

lot has changed in the 20 years since Helen Avis started out as a broker. The director of finance at Specialist Mortgage remembers a time when loan applications required no compliance paperwork – “you just submitted the application with the client’s supporting documents and that was it!”

Then along came the banking royal commission to churn up the playing field for everyone, not least the expat borrowers Avis deals with.

“From about 2012, expat lending changed a lot in regard to requirements and how foreign income was assessed, with a lot of supporting documentation needed. It’s been challenging, but there’s always a solution, right?”

It’s this ‘there’s always a solution’ approach – combined with a lot of hard work – that has seen Avis’s business flourish. This year especially, she has received a flood of referrals from clients’

40

friends – would-be homeowners who had been turned down by a range of lenders.

She said the past year had been “crazy”, with people jumping in to buy a future home before they got priced out of the market.

“I have also seen a lot of expats returning to Australia due to COVID – just the sheer volume of people and the price points have been phenomenal.”

One of the biggest challenges of the year has been the time it takes to get approvals.

“There are a limited amount of lenders we can look at, because a lot of banks don’t lend to people living overseas with foreign income. Because of that, and the volume of the loans the banks have had to process, the assessment time is completely blown out.”

Being organised has been crucial, and Avis credits her amazing CRM system, Complete Empire, with keeping her on track.

The more organised she is, the better she can focus on the main task at hand: helping clients find the best rate possible.

“A lot of clients have bought properties while they are expats with the intention of moving back to Australia within two years.

Over the next couple of years rates are going to increase, so it’s about educating them as to the best solution.”

After two decades, this is the first time Avis has put herself forward for any award.

She’s now glad she did and encourages other brokers – especially women – to do the same.

“We work so hard, and it’s great to be recognised for the work that you do!”

Aggregator: Specialist Finance Group Total value of residential loans FY21: $153,801,668 Number of residential loans FY21: 249

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GRAEME HOLM Director, Infinity Group Australia

Phone: 1800 4634 6489 Email: info@infinity.com.au Website: infinity.com.au

K

now your customer. For Infinity Group Australia director Graeme Holm, that’s what being a top broker is all about: taking that extra care to fully understand your client’s position. And he has a “super cool” story to illustrate the point.

“I had self-employed clients who’d had three declines, but when I looked at their financials in detail, they were making more money with less overheads during COVID. They had multiple cafes in shopping centres that could do takeaway even in lockdown, with fewer staff. I was able to show growth in some areas and cost reductions in others, so I went to the head of credit at Pepper and gained an approval. After that, they kept going so well they were able to pay off about $200,000 of their loan in about 18 months.

Taking that extra care to understand their business – that changed their life.”

Empowering clients to better under­ stand their own financial position is a key plank of Holm’s business, which he

describes as a ‘personal trainer for finances’.

“We do lots of online events and courses, really pushing ourselves into that education space. We want the customer to know everything about what they are trying to do before they decide on the product. That has seen us growing at a rate where we’re having to cap the number of clients we work with.”

This ‘personal training’ has opened up Infinity’s core demographic, with clients ranging from those not yet ready to buy but who want to “do it once and do it right”, through to mum-and-dad refinancers, upsizers, downsizers and investors.

“That’s been great, noticing the more value we put out into the market for free, the broader our client enquiry has become.”

Even during the pandemic, the business’s agile response has held it in good stead.

“We have a strong focus on digital, so when the pandemic kicked in we quickly pivoted to weekly free webinars. We brought in economists, financial planners, accountants

to speak, and that collaboration was key for us. We’ve given as much value to the market as we can, and that has really helped.”

Holm’s advice to other brokers wanting to make the Top 100 list?

“Perseverance and ongoing education are important, so try to attend as many PD days as possible. Also, find a strong mentor.

Success leaves clues, so reach out to some of the Top 100 brokers to gain their insights.

Don’t see other brokers as competitors, but instead think about what you can learn from each other.”

Aggregator: Vow Financial Total value of residential loans FY21: $314,759,749 Number of residential loans FY21: 731

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41

SPECIAL REPORT BUSINESS STRATEGY

TOP 100 BROKERS

JUSTIN DOOBOV, INTELLIGENT FINANCE

R

eclaiming his place as MPA’s number one broker, Justin Doobov has returned to the Top 100 after a couple of years working quietly in the background. He says it’s important to “run your own race” and not feel the need to compete with other brokers.

“We’re confident about what we do, because we know we go above and beyond for our clients,” he says. “We’re focused on helping as many people as possible – that’s our goal. If that means we write the most loans in the country as a result, that’s a bonus.”

In FY21 Doobov wrote the highest value of loans MPA has ever seen in its Top 100 Brokers list, breaking his own record from 2017. Consistent processes and a well-trained team have contributed to his success, but he also says he hates the word ‘no’.

Always wanting to turn a no into a yes, Doobov dissects the client’s position to work out how they can get an outcome that is favourable to them as well as the bank.

“The easy answer is to give a ‘no’, but I can’t count the number of times I’ve heard no, and we’ve turned it into a yes...

“Don’t tell me no; tell me what you can lend to them. If you tell me we can only get a $800k home loan, not a milliondollar home loan, then we’re 80% of the way there. So, how do we increase the bank’s comfort level and bridge that gap?”

Doobov is also not afraid of hard work.

Even as a child he went out to wash cars, and as he grew older he took on various jobs in hospitality and retail. Some of those neighbours he washed cars for are his clients today.

42

Having taken that hard-working attitude into the broking business, a piece of advice he would share with other brokers is to “do today what you could do tomorrow”. A selfconfessed pessimist, he says the industry can change at any time, so it’s always worth doing things sooner rather than later.

“If there’s an application to submit, then do it today, because the lending criteria might change tomorrow, or rates might change,” he says.

Looking beyond COVID-19 at the next year to 18 months, Doobov says one of his focuses will be to refine the client base he works with. At the moment, it’s a mix of borrowers walking through his door, as they are primarily referrals from former clients.

“Our customers are our marketers. We look after the client so well that they become a raving fan,” he says.

“Because of my finance experience we understand the complex tax structures that others don’t. We might be able to get them a larger loan or a more favourable rate because we can explain the position a lot better to the bank.”

He likens it to Masterchef: “Everyone is given the same ingredients, and someone makes scrambled eggs, but we make a Michelin-star meal.”

Aggregator:

Choice Aggregation Services Total value of residential loans FY21:

$422,884,964 Number of residential loans FY21:

627

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CBA’s Baber Zaka (right) presents the trophy to Top Broker Justin Doobov

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FEATURES

SECTOR FOCUS: DIVERSIFICATION

Standing out from the competition With changing regulations and the peaks and troughs of the loan market, brokers can protect their revenue stream by diversifying their lending solutions

“ANY TIME is a good time for brokers to think about diversifying. The thing about COVID is it’s given brokers the opportunity to build closer relationships with their small business customers,” says John Kolyvas, ING’s national sales manager, commercial.

Throughout the pandemic, mortgage brokers have been on the frontline with borrowers needing additional support with home loans. Many of these clients would also have been small business owners looking for help with commercial finance as restrictions impacted the running of their businesses.

Kolyvas says the support provided during this period would have created long-term relationships, as brokers were taking the time to understand their clients’ businesses.

Now, as businesses open up and plan how to continue to grow again, brokers are positioned to help them seek working capital.

As business owners themselves, mortgage brokers should be looking at diversification as a way of creating business stability and reducing risk, Kolyvas says.

“Most brokers have a large base of selfemployed customers that they have arranged home loans for. By not taking an interest in how that customer is funding their business, and just focusing on the home loan, you’re really placing the relationship with that customer at risk, as someone else – be that

44

another broker or the bank – will take an interest, and they will take an interest in the whole relationship as well,” he says.

If your self-employed home loan customers already trust you, Kolyvas says you could offer to also undertake a review of their business banking.

Asset finance is a great place to start for mortgage brokers who have not delved into

similar as possible to a home loan application for a self-employed client. Its credit assist team also take a “hands-on approach” to helping the broker structure the loan and application.

But Kolyvas says the broker should not try to take on anything too complex too early on.

“If a large, complex application lands on your lap and you’re overwhelmed, my

“The thing about COVID is it’s given brokers the opportunity to build closer relationships with their small business customers” John Kolyvas, ING commercial lending before. Even if it’s a simple car loan, Kolyvas says that will begin to reposition the broker’s business in the eyes of the client.

It’s also important for brokers to build their knowledge: speak to their BDMs, attend lender training sessions, and speak to other brokers who have already diversified.

To ease mortgage brokers into the world of commercial lending, ING has tried to make its small business loan application process as

suggestion would probably be to partner up with a commercial specialist broker that you know and trust, and make sure you use it as an opportunity to get a bit of training as well,” he says.

Brokers can help businesses recover Mortgage brokers who have diversified and used ScotPac to offer SME loans have said diversifying was a great way to stand out from their competitors. ScotPac CEO Jon Sutton

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STEADY RISE IN NUMBER OF BROKERS DIVERSIFYING

,

Number of mortgage brokers also writing commercial loans

5,000 4,000 3,000 2,000 1,000

2,374 1,673

1,641

Apr 15Sep 15

Oct 15Mar 16

2,647

3,668

3,617

3,481

Oct 17Mar 18

Apr 18Sep 18

Oct 18Mar 19

4,486

4,539

Oct 19Mar 20

Apr 20Sep 20

4,727

3,670

2,932

0 Apr 16Sep 16

Oct 16Mar 17

Apr 17Sep 17

Apr 19Sep 19

Oct 20Mar 21

Note: Commercial brokers as those mortgage brokers who had written a commercial loan through their aggegator’s panel during the period. Those who solely wrote loans direct with lenders are not included.

Source: MFAA Industry Intelligence Service, 12th Edition

believes there are many opportunities for brokers to diversify, both now and in the future.

Brokers will be needed to help businesses secure funding for growth and merger or acquisition opportunities as the economy opens up, and to assist them with cash flow challenges and business restructuring.

“Whether COVID hit hard (like in retail, hospitality, tourism) or fast-tracked growth (as in transport), businesses need fast funding like never before, and this creates opportunities for brokers,” Sutton says.

“Brokers can play a key role by doing their bit to help Australian businesses recover.”

ScotPac recently announced its $100m SME Bounce Back Fund to help businesses through the recovery process. It is completely removing the interest cost for the first three months for clients using the fund. Business owners will be able to get fast access to additional working capital of up to $1m, while

“Now is the time for brokers to have conversations with their small business clients about funding that can help a business manage its cash flow” Jon Sutton, ScotPac brokers retain their normal commissions.

The lender has also just introduced a new mortgage product for business owners and a property-secured business loan, “so the opportunities for brokers with us in the SME lending space are enormous”, Sutton says.

On top of offers like these and its broad range of products, ScotPac prides itself on not having a “cookie-cutter approach”.

“The benefit of working with the established market leader in non-bank business lending is

that we understand the business environment better, so we can say yes where other lenders can’t, and we find a way to put together a solution to meet the exact needs of each business,” Sutton says.

ScotPac regularly releases its SME Growth Index. Its latest data showed that eight in 10 SMEs had cash flow issues in 2021 and two in three businesses tried new funding sources, with non-bank offerings such as invoice finance becoming increasingly popular.

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17/11/2021 1:40:17 AM

FEATURES

SECTOR FOCUS: DIVERSIFICATION

Sutton says its research shows that the current business environment offers brokers a great opportunity to become the trusted adviser every small business needs; there has been a fourfold increase in SMEs turning to trusted advisers rather than “going it alone”.

“Brokers have a crucial role in helping business owners access funding,” he says.

“Now is the time for brokers to have conversations with their small business clients about funding that can help a business manage its cash flow.”

Diversifying broker revenue steams SME lender OnDeck saw a 175% jump in broker-originated SME finance between January and June 2021 compared to the same period in 2020.

One reason behind the lift in volume is that many SMEs were pivoting into new markets and delivery channels and investing in new equipment ahead of the economy reopening.

Nick Reily, national channel and partnerships manager at OnDeck, anticipates that the number of broker-originated loans in this sector will keep rising as restrictions lift during the festive season.

“A broker’s business is likely to be one of their most valuable investments – and all investments benefit from diversification” Nick Reily, OnDeck “Just as growing numbers of consumers now turn to a mortgage broker for their home loan, OnDeck has seen a significant uptick in demand for small business loans via the broker channel,” he says.

“This trend confirms that small businesses are looking to a trusted adviser for support in their financing journey. It’s great for small businesses, and it’s giving more brokers an opportunity to diversify their revenue base through commercial lending.”

To support SMEs in 2021, OnDeck launched its Lightning Loans product and KOALA Score™ credit-scoring model. Small businesses were able to take advantage of fast access to finance and short-term opportunities such as early payment discounts on trading stock.

By diversifying, Reily says brokers can offer

CHANGES IN BUSINESS REVENUE DURING COVID-19 % change in business revenue, July 2020 to June 2021

,

July 2020

June 2021

Mar

May

50% 40% 30% 20% 10% 0% Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Apr

Jun

Source: ABS Business Conditions and Sentiments, June 2021

46

a holistic service, becoming a “one-stop shop” for their customers’ personal and business lending needs.

“Diversifying into small business lending benefits brokers in several ways,” he says.

“A broker’s business is likely to be one of their most valuable investments – and all investments benefit from diversification. It means that if the home loan market cools, brokers can maintain a robust revenue stream through commercial lending.

“Diversifying helps to protect a broker’s business from regulatory change that may impact their core business – often home loan lending. We saw in early October the changes APRA made to lenders’ buffer rates, and this has the potential to impact the home loan market. By diversifying into small business lending, brokers can protect their revenue base.”

Adding that brokers are often surprised to discover how quick and easy small business lending can be, Reily says OnDeck’s speed and simplicity give brokers and their clients a “very different experience” from traditional commercial lending through the mainstream banks.

As a fintech lender, OnDeck can help brokers who are new to SME lending, offering a “high-tech/high-touch” ethos and working closely with brokers to ensure a seamless experience. It also provides free online tools like Know Your Score, which helps businesses understand their credit scores.

“Trying anything for the first time can be challenging and confronting,” says Reily. “But brokers have no reason to feel nervous writing small business loans with OnDeck.”

MPA_Fu

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MPA_Fu

Even more ways to help business owners Launching early 2022 – ScotPac is introducing Home Loans for Business Owners, Business Loans and Business Credit on Call

As Australia’s largest non bank SME lender, ScotPac has been

supporting business owners with best in market working capital

solutions for 30yrs.

From early 2022, ScotPac will be

expanding its product range to

help even more business owners Home Loans for Business Owners,

Invoice Finance

Asset Finance

Trade Finance

Home Loans

Coming soon

Business Loans

Coming soon

Business Loans and Business

Credit on Call.

Register your interest to become

accredited or talk to us on how

we can help you diversify your

income and support your clients

with their business funding needs.

Visit ScotPac.com.au/accreditation

1300 207 345

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FEATURES

SECTOR FOCUS: MARKETING

‘You can’t sell a secret’: The value of marketing As brokers face ever-increasing competition in the industry, having a strong marketing strategy is vital to growing their businesses. Luckily, brokers don’t have to go it alone, as groups like Mortgage Choice are on hand with tools and support MORTGAGE CHOICE broker Caroline Jean-Baptiste spends a few hours each week focusing on her social media marketing.

She says the important thing to remember when working on a marketing plan is to be consistent.

“Systemised marketing means that the business wasn’t having huge ups and huge downs. It meant more consistency and better lead flow. Because it was consistent in content, we built trust and we were front of mind,” she explains.

Mortgage Choice supports franchisees like Jean-Baptiste with additional marketing tools. Each month its platform is updated with new assets to keep content fresh and topical, featuring blogs and videos, social media posts and resources for referral partners.

David Zammit, national sales director at

48

Mortgage Choice, says the most valuable marketing message it echoes through its network is that “you can’t sell a secret”.

have the skills to do more on their own.

Jean-Baptiste prefers to do her own marketing by using platforms like LinkedIn consistently and sending out updates to her clients. Communication is important: her strategy of emailing clients at relevant points, for example when their fixed rates are due to expire, means she may have the opportunity to help them with their loan – or the client may refer her to someone else.

With so much competition from other brokers, Jean-Baptiste says it’s important to focus on servicing your own customers, but it doesn’t have to be difficult.

“Producing content is really important in the current market, and it just needs to be consistent,” she says.

“Don’t worry about high-level production or having to pay $10,000 to produce a video: pop your -iPhone on, look presentable, think about the sort of thing you want to say, and be consistent across different media.”

Developing a marketing strategy The majority of Mortgage Choice franchisees do reach out for some help with their marketing at some point in their business journey, says Zammit.

Brokers who worry that marketing will be a

“Use your aggregator’s marketing resources to your advantage. We know how busy you are, but your marketing doesn’t have to take a back seat” David Zammit, Mortgage Choice While many brokers may need support from their aggregator – particularly when they first start up their business – some may benefit more from outsourcing their entire marketing plan, whereas others will

pain point for their business “need not suffer in silence or waste money on guesswork”, he says. Brokers can seek help from their aggregator, an external marketing agency, or through other avenues like online courses.

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Much like Jean-Baptiste has done, Zammit recommends brokers develop a marketing strategy before “hitting the ‘go’ button”.

“Use your aggregator’s marketing resources to your advantage. We know how busy you are, but your marketing doesn’t have to take a back seat. We’ve done the legwork for you and have some great assets to maintain your marketing momentum,” he says.

“Talk to your broker network and peers or

other small business owners. Ask what they did that worked, and learn from what failed.

You don’t have to replicate every last detail; rather it’s about managing what marketing looks like for you.”

When developing a marketing strategy, Zammit says brokers should “think local”: customers are looking for quality service in close proximity to them, and your marketing needs to meet that expectation in order

to capture leads in your suburb or region.

Marketing is not all about video content or blogs. Brokers should start by updating their websites to be Google-friendly, making it easy for people to find them. Google reviews and helpful business information – like contact details – will drastically improve local search rankings.

Zammit adds that an often-underused website marketing tool for brokerages is

THE BATTLE FOR VISIBILITY Online visibility expert Nicola Moras provides four tips for creating your presence when everyone else is fighting for the spotlight too.

Assume the position of industry leader “Confidence breeds confidence.

When you assume a position as an industry leader before you even begin to dial up your visibility efforts, everything else becomes easier to implement.”

What makes you different?

“When you start sharing your stories and what makes you different to everyone else out there, it helps your audience see you as a company they can trust. This is because they start to see the human behind the logo.”

Own your niche “You don’t need to be visible to everyone. The more specific you can be about who you want to be visible to, the easier it becomes to get on their radar.”

Be consistent and persistent “Visibility takes time, but when you are consistent with your efforts, it will pay off. Create different types of content and share it multiple times daily.”

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FEATURES

SECTOR FOCUS: MARKETING having reciprocal links to other local businesses that you might refer your clients to, such as accountants, solicitors, or real estate agents and buyer advocates.

Mortgage Choice also offers instructional videos for newcomers to the platform, as well as plenty of material for experienced marketers “so they don’t always have to reinvent the wheel”.

As part of the onboarding process for new franchisees, the broker group sets up their entire office or retail shopfront, as well as their website, Google My Business account, SEO optimisation, social media campaigns and marketing collateral.

“On top of this, we also recognise that lead generation is the most important activity when starting a franchise, and you will be plugged into our national lead generation software and reporting toolkit,” Zammit says.

“For established brokers, our franchise marketing team can give your marketing plans and strategy the once-over to see where

“[Marketing] will set the future direction of your business – it sets timelines or goals, identifies your target audience, and most importantly, it becomes a budget item” David Zammit, Mortgage Choice improvements can be made, as well as provide ongoing training on key topics such as local area marketing, video, SEO and social media use.”

Critical to business success Adding that marketing can also achieve much more than just lead generation, Zammit says being seen and heard will be critical to the growth and sustainability of a broker’s business.

“Often it will set the future direction of your business – it sets timelines or goals,

HEIGHTENED COMPETITION As broker numbers start rising again, it’s more important than ever that you stand out from the crowd

Total broker population based on sampled aggregators*

18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0

16,940 15,443 13,841

Apr 15Sep 15

16,009

16,787

17,040

16,968

16,851

16,598

16,389

16,490

Oct 18Mar 19

Apr 19Sep 19

Oct 19Mar 20

Apr 20- Oct 20Sep 20 Mar 21

14,379

Oct 15Mar 16

Apr 16Sep 16

Oct 16Mar 17

Apr 17Sep 17

Oct 17Mar 18

Apr 18Sep 18

* There is data from one less aggregator included in the five most recent six-month periods.

Source: MFAA Industry Intelligence Service, 12th Edition

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identifies your target audience, and most importantly, it becomes a budget item,” Zammit says.

“Marketing strategies also become a useful measurement and feedback tool for your business’s success. For example, targeted marketing campaigns can help you know your customer and evaluate market sentiment.”

With increasing competition in the market and the ability to search on Google, Jean-Baptiste says it’s worth investing time in marketing. Before borrowers see a broker, they inevitably do their research, and she says if you position yourself as the expert, they will feel confident in coming to you.

“If you genuinely want to get people to know you, which is how you build trust, you’ve got to take time personally to build your profile,” she says.

But for those who are new to marketing and not sure where to start, it can be difficult to know what to avoid. Zammit says one of the biggest considerations when developing your marketing will be whether to ‘pay to play’ online.

While paid advertising positions on websites and social media can work, Zammit warns that they can also be a poor investment of time and funds – especially if your ad sits somewhere with little traffic.

“For example, paid search listings on Google might not always give consumers what they’re looking for, leaving you with little return on your investment,” he says.

“A far less costly exercise, and possibly more beneficial in the short term, is to set up your website page descriptions and keywords in a way that answers people’s search queries.”

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Source: Sensis Business Index August 2019

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Join the strongest mortgage brokerage team in Australia By choosing Mortgage Choice as your partner for a successful future, you’ll benefit from: A proven model in sustained revenue An unmatched program of ongoing support and mentoring A brand whose strength lies in the partnership it offers And a rewarding career built around helping customers achieve their homeownership dream.

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ING's $3,000 cashback offer is available for customers who refinance an eligible home loan from another lender. Minimum refinance amount $500,000+, LVR less than or equal to 80%. Customers must apply to refinance before 31 December 2021 and settle on or before 31 March 2022. Check out the terms and conditions at broker.ing.com.au That could be $3,000 for your customers to do their thing, whatever that is.

To find out more about our $3,000 cashback offer talk to your ING representative or visit broker.ing.com.au For the curious: Information is correct as at date of publication and subject to change. All applications for credit are subject to ING's credit approval criteria. Fees and charges apply. Details of these and the terms and conditions are available at ing.com.au or by calling 133 464. ING is a business name of ING Bank (Australia) Limited ABN 24 000 893 292, AFSL and Australian Credit Licence 229823.

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do your thing

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FRIDAY, 15 OCTOBER 2021  ONLINE

COMMEMORATIVE GUIDE

EVENT PARTNER

AWARD SPONSORS

OFFICIAL PUBLICATIONS

ORGANISER

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www.mpamagazine.com.au

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NEWSLETTER

Receive the latest news and updates about the world of mortgage management, delivered straight to your inbox daily

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EVENT PARTNER

WELCOME FROM THE EVENT PARTNER 2021 MARKS the 12th year of Westpac’s partnership with the Australian Mortgage Awards, and we’re delighted to be a longterm supporter.

2021 has tested the resilience of Australians. From floods to a deadly pandemic that’s changing the way we live and work, the broker community has continued to demonstrate its ability to adapt to the changing operating environment and help customers with their homeownership needs.

We’re just as committed to helping more Australians into their homes today, and into the future, as we always have been.

Australians value the choice and independence mortgage brokers provide, and this is something to celebrate together at this year’s AMAs. The third party distribution channel continues to contribute strongly to the growth of the Westpac Home Lending Portfolio and is testament to the strong and sustainable relationships we have built with brokers.

We’ve listened to what brokers need and have made changes to help brokers around the country, opening more doors to customers. Our commitment to service excellence is stronger than ever, and we’re continually looking for new ways to improve the broker experience across product, policy, process and support.

Congratulations to all the winners and excellence awardees – you should be extremely proud of your achievements during these challenging times.

Westpac is proud to have celebrated with you the recognition of your hard work, dedication and service to our industry at the 2021 Australian Mortgage Awards.

WARREN SHAW Head of mortgage broker distribution, Westpac Group

TABLE OF CONTENTS NATIONAL AWARDS Westpac Australian Broker of the Year Liberty Australian Brokerage of the Year

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BROKER AWARDS La Trobe Broker of the Year – Commercial FBAA Broker of the Year – Independent Pepper Money Broker of the Year – Specialist Lending Equity-One Broker of the Year – Productivity MFAA Young Gun of the Year (Franchise) Broker of the Year – Regional Adelaide Bank Young Gun of the Year (Independent)

61 62 62 63 64 64 66

BROKERAGE AWARDS Resimac Brokerage of the Year – Diversification Brokerage of the Year – Regional Most Effective Digital Strategy – Brokerage Brokerage of the Year (1–5 Staff) Brokerage of the Year (6–20 Staff) CBA Brokerage of the Year (>20 Staff) NextGen.Net New Brokerage of the Year BOQ Broker Best Customer Service from an Individual Office

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AGGREGATOR AWARDS Prime Capital Aggregator of the Year (Up to 500 Brokers) OnDeck Aggregator of the Year (Over 500 Brokers)

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INDUSTRY AWARDS Best Industry Marketing Campaign Best Industry Service

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BDM AWARDS Bankwest Best Aggregator BDM Best Major Bank BDM Best Non-Major Bank BDM Mortgage Choice Best Non-Bank BDM

78 78 79 79

LENDER AWARDS Key Media is an award-winning global media company with eight offices around the world. Our growing portfolio of market-leading products connects business communities and product providers across six key verticals through print and online media and events.

MSA National Bank of the Year Non-Bank of the Year Loan Services Team of the Year Most Effective Digital Strategy – Lender Fintech Lender of the Year

80 80 83 83 83

www.keymedia.com

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A CELEBRATION OF THE INDUSTRY’S BEST This year’s most outstanding mortgage and finance industry professionals were recognised and rewarded at the virtual Australian Mortgage Awards

ON A Friday night in mid-October, the Australian Mortgage Awards recognised the best in the mortgage and finance industry with a virtual awards celebration. Hosted by TV and radio presenter Erin Molan, this year’s ceremony saw awards handed out in 29 categories to finance brokers, BDMs, lenders, banks, aggregators and service providers.

For the 12th year in a row, the awards were sponsored by major bank Westpac. CEO Peter King called the event a great opportunity to celebrate the industry’s outstanding achievements over the past 12 months – despite not being able to do so in person.

King praised the way the broking industry had come through the pandemic.

“Since COVID, the industry has shown new ways of working and shown how resilient and innovative it is,” he said.

“Brokers continue to play a key role in helping customers with the Australian dream: buying a home. They trust and value your inde-

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pendent service and advice, and they look to brokers to help navigate a complex landscape of choice.”

Adapting to a new way of doing business The industry was certainly there for borrowers over the last two years as the COVID-19 pandemic took hold. In March 2020 as the international borders closed and restrictions were put in place to limit movement and interaction, many Australians lost their jobs or had to press pause on their businesses.

Navigating the options for borrowers presented some complexity, so brokers stepped in to support their existing clients with solutions like repayment holidays, refinancing, or cash flow options.

In fact, the market turned out to be much more resilient, and throughout 2020 brokers saw record numbers of refinances and first home buyers.

Brokers also had to adapt their own businesses to the sudden shift

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EVENT PARTNER

METHODOLOGY NOMINATIONS The call for nominations went out to all mortgage professionals and organisations in the industry, including brokers, brokerages, aggregators, lenders, BDMs, underwriters, agents and service providers.

Nominations were open from 24 May 2021 to 25 June 2021.

Nominees were asked to provide their details and a brief reason for nomination, with a 500-word limit.

RESEARCH The Australian Mortgage Awards team conducted research and drew on content and information in MPA and Australian Broker magazines to support and supplement nominations received and to ensure that no one deserving of recognition was missed.

EXCELLENCE AWARDEES

to working from home and no longer being able to see clients in person. It was a learning curve for many brokers who had to implement new technology and rethink their business strategies, but when the lockdowns and restrictions were put in place in NSW and Victoria again this year, brokers were much better prepared.

Banks also had to double down on their digital offering to ensure that borrowers and brokers could continue to submit loans, even though they could not complete the usual steps in person.

This year’s AMAs celebrated the digital efforts of both brokers and banks.

The biggest winner of the year was mortgage broker Louisa Sanghera from Zippy Financial, who took home the individual award for Broker of the Year – Independent, while the brokerage also won the Most Effective Digital Strategy award.

Commenting on Zippy Financial’s digital strategy, Sanghera said that over the last year the brokerage had focused on building its online presence.

“We achieved this by taking complete ownership and control of our communication channels and continuing to grow our online community groups,” she said.

“Our strategy consists of a dynamic and interconnected network of websites, social media platforms, online magazines, online advertising, online content marketing, community events, PR and direct communications.”

Sanghera’s wins also led to her taking home the biggest award of the night: Australian Broker of the Year.

“As an independent mortgage broker, winning Australian Broker of the Year is such a huge deal,” she said. “We were up against some

Once all nominations and research were complete, excellence awardees were shortlisted in each category and notified by email. All excellence awardees were invited to complete a detailed submission to address the category criteria in more detail. Finalists were then listed on the Australian Mortgage Awards website and promoted in MPA and Australian Broker magazines.

JUDGING The Australian Mortgage Awards team forwarded all completed submissions to the independent judging panel made up of mortgage and finance industry leaders and senior representatives. The panel assessed and voted for winners in each category according to the relevant category criteria. Judgement was impartial, balanced, incisive and fair.

WINNERS A simple points system was used to aggregate the judges’ votes, and the excellence awardee with the top score in each category was named the winner.

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well-established and much larger brokerages, and everyone else nominated in this category is more than deserving to win. So I’m honoured and overwhelmed with gratitude to have been selected to come out on top and win this award.”

Sanghera thanked her team for all the hard work they had done, saying the year had been “crazy busy”. She said winning three awards on the night “means the world” to her.

“Not only is it a validation of the hard work I’ve put into the business for almost seven years now, but it’s also a testament to the amazing team I have behind me, supporting me every step of the way. I couldn’t have done this without their support and dedication,” she said.

“We have faced several challenges throughout the years, and winning these awards gives us more fuel to burn the fire that we need to keep on pushing forward, to achieve more and to help make more clients reach their goals and dreams. These awards would not be possible without the continuous trust we receive from them, and it motivates us to improve the quality of service we provide to them more and more.”

One of the other big winners of the night was Home Loan Experts, which won Liberty Australian Brokerage of the Year. This was off the back of winning Brokerage of the Year (>20 staff ).

Increasing its loan settlement value by almost 71% in FY21, the brokerage aims to “answer all leads, not just high pay-off customers”.

Home Loan Experts mortgage broker Prakash Rai said it felt “surreal” to be receiving the award.

“I’d also like to extend my thanks to my team at Home Loan Experts, without whom this would not have been possible. I’m forever grateful for your support,” he said.

Recognising the best lenders With the increase in lending business during COVID-19, brokers worked through the challenge of lengthening turnaround times.

SLAs grew as banks tightened their lending criteria and spent more time diving into borrowers’ living expenses.

In MPA’s surveys this year, brokers voiced their frustrations with the increased turnaround times, but commended non-banks for performing much better.

Lenders were celebrated at this year’s AMAs as well, with awards recognising those that had provided the best service to brokers over the last year.

Taking out Bank of the Year was Bankwest. Addressing the issue of turnaround times in its submission, Bankwest said it took a continuous improvement approach to managing application volumes as well as increasing the number of staff in its processing team.

Bankwest’s general manager of home buying, Peter Bouhlas, said he was delighted to accept the award on the night.

“Our vision is to deliver brilliant customer experiences every day, and we aim to offer simple, friendly service, security and value for Australians from coast to coast,” he said.

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“With 80% of our home loan customers choosing Bankwest through their broker, we place great importance and respect on our third party relationships. Bankwest’s ambition is to be the best broker bank in Australia, and we can only achieve that by working closely with brokers and adapting to their needs – and this award suggests we’re on the right path.”

The Non-Bank of the Year award went to Pepper Money. Helping brokers through the COVID-19 period, the non-bank focused on introducing service innovations and broker education.

Barry Saoud, general manager of mortgages and commercial lending at Pepper Money, accepted the award and thanked the nonbank’s team, its customers, brokers and business partners.

“We feel really fortunate to be part of an industry that is providing real-life solutions to our customers, so I thank [them for their] support,” he said.

“I’d also like to acknowledge and thank all the finalists; we feel very proud to be part of a group that’s providing alternative lending solutions.”

While only a few of the winners of this year’s Australian Mortgage Awards have been mentioned here, all the winners are important and deserving of celebration. Congratulations to everyone who was named as a finalist in 2021; in such a busy and complex year, it was a tight judging process.

Full details of the finalists and award winners are highlighted over the following pages. MPA looks forward to seeing you all in person at next year’s Australian Mortgage Awards.

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EVENT PARTNER

2021 JUDGING PANEL Thank you to our esteemed judges for lending us their time and expertise to help recognise and celebrate excellence in the mortgage industry

CORY BANNISTER

TIM BROWN

BLAKE BUCHANAN

Senior vice president – chief lending officer, La Trobe Financial

Head of wholesale distribution, BC Invest

Aggregation | acquisition | strategy, Specialist Finance Group

DANIEL CARDE

MELISSA CHRISTY

GRAHAM COOKE

General manager distribution, Resimac

Lending product lead, 86 400

Head of consumer research | international Finder

GLENN GIBSON

MARK HARON

JOANNA JAMES

Head of distribution and service, ING

Executive director, Connective; board member, MFAA; deputy chair, Combined Industry Forum

CLIVE KIRKPATRICK

SAM MAKHOUL

Director, Kircon

Managing director and chief legal officer, MSA National

SASCHA MOORE

MARTIN NORTH

IAN RAKHIT

Director, Create Design & Marketing

Principal, Digital Finance Analytics

General manager, third party, Bankwest

General manager, Mortgage Ezy

BARRY SAOUD General manager mortgages and commercial lending, Pepper Money

LEE RUDWICK

TANYA SALE

LOUISA SANGHERA

Performance lead – home loans, ANZ

CEO, outsource Financial

Managing director, Zippy Financial Group

MICHAEL TRENCHER

JOSEPH TRIMARCHI

ALF VASTA

Managing director, Impact Consulting

Solicitor, Joseph Trimarchi & Associates

Head of broker distribution, MoneyPlace

PETER WHITE

SHARON YARDLEY

MARIELLE YEOH

Managing director, FBAA

Head of operations, risk and compliance, Heartland Seniors Finance

Chief financial services and marketing officer, Property Exchange Australia (PEXA)

CHRISTIAN YORK

JEFF ZULMAN

Head of distribution, Virgin Money

Managing director, TrailBlazer Finance

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WESTPAC

AUSTRALIAN BROKER OF THE YEAR

This award recognises the most outstanding mortgage broker in Australia. Excellence awardees in this category comprise the winners of the individual broker categories.

WINNER

LOUISA SANGHERA Zippy Financial EXCELLENCE AWARDEES Daniel Pym, Loan Market Double Bay John Contarino, Mobile Finance Broker Kevin Wheatley, Bayside Commercial Mortgages Mark Davis, The Australian Lending & Investment Centre “It is nice to be recognised, just to see all the hard work, all the tears and sweat that goes into every single day and all the sacrifices I’ve made … to see that it is paying off. We always put the clients first. I only bring in quality staff with lots of experience. They all know what they’re doing, so everything runs smoothly. It’s about having good systems, good procedures, and we all work extremely hard. Thanks to my new aggregator, Specialist Finance Group, for recently taking us on and supporting us”

AWARD SPONSOR

Australians have been through a lot since Westpac opened its doors in 1817.

Wonderful, challenging, exhilarating moments – we’ve seen most of them up close and personal.

Banking is often invisible in our lives, and even though we’re pretty sure you don’t think about us all the time, you’re interacting with us and our products nearly every day, and when it does matter, we’re there to back you.

It’s why we’re constantly improving your banking experience with technology like the launch of our new mobile app. Why we protect you through initiatives such as our scams promise. Why we’re working to provide simpler, smarter and smoother banking to help you take and maintain control of your money – with features like Tap+Pay and Cardless Cash (T&Cs and eligibility apply). It’s why we offer Westpac rewards and better savings rates and give you the opportunity to really dig down into and understand what makes your finances work.

Whether you’re saving for your first big road trip or turning a side hustle into a full-time gig; starting a family, downsizing to start a new adventure, or getting financially literate – we’re here.

Life is eventful – that’s why we help.

LIBERTY

AUSTRALIAN BROKERAGE OF THE YEAR This award recognises the most outstanding brokerage operation in Australia. Finalists in this category comprise the winners of each individual brokerage category.

There are no nominations for this category.

WINNER

HOME LOAN EXPERTS EXCELLENCE AWARDEES Empower Wealth Everlend Loan Market Geelong PFS Financial Services XIN Mortgage

W: www.westpac.com.au/brokers

Louisa Sanghera, Zippy Financial

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EVENT PARTNER

LA TROBE

GE

BROKER OF THE YEAR – COMMERCIAL

AWARD SPONSOR

Liberty is a free-thinking finance company that offers innovative solutions at competitive prices to support customers with greater choice.

Over the past 23 years, this approach has seen over 600,000 customers get financial with Liberty across home, car, personal and business loans, as well as SMSF lending and insurance products.

This award acknowledges the best broker who specialises in commercial real estate, investment finance, SME/debtor finance, asset and leasing finance. Criteria include residential-to-commercial lending ratios, loan volumes, year-over-year growth, lead generation, client retention, quality of submissions, conversion rates, and overall customer service.

Barry Thatcher, Thatcher Finance

Established in 1952 and with $12bn of assets under management, La Trobe Financial is one of Australia’s leading diversified wealth managers, specialising in funding and investment solutions. La Trobe Financial has been a proven and trusted investment partner for institutional and retail investors, operating Australia’s largest retail Credit Fund with $5.6bn in assets under management and 55,000 retail investors.

La Trobe Financial has over 5,100 distribution points across its two growth engines. Wealth products are distributed through 1,600 advice practices, and loans are distributed through 3,500 brokers. La Trobe Financial is 80% owned by Blackstone, one of the world’s leading investment firms with more than US$649bn of assets under management worldwide and 20% owned by management.

Daniel Green, Green Finance Group

Contact details:

Ian Robinson, Robinson Sewell Partners

La Trobe Financial

John Encina, Experity Capital

P: 13 80 10 E: info@latrobefinancial.com.au W: www.latrobefinancial.com

WINNER

Contact details:

Sof Tsialtas National sales manager E: accreditations@liberty.com.au W: www.liberty.com.au

KEVIN WHEATLEY Bayside Commercial Mortgages EXCELLENCE AWARDEES

“Everyone had a great year, and for us to be recognised as one of the best is a great achievement for the team. We’ve really tried to get back to the basics. We allow them to just be the broker – talking to customers, building rapport, and then we’ve taken a lot of the admin function off them. We don’t have a set of lenders that we go to, so the team this year have used over 60 different lenders. We really work on the brokers trying to find a solution for the customer. How can we make it easy for the customer to deal with us where we can give them a number of different options and get them set with a lender – that’s the focus for us”

AWARD SPONSOR

Adrian Lee, Catalyst Debt Capital

Josh Egan, Astute Melbourne City South and Gippsland Melissa Ashcroft, AAA Mortgages

Luke Hemmings, Home Loan Experts

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FBAA

BROKER OF THE YEAR – INDEPENDENT

This award recognises the best broker in an independent business. Criteria include loan volumes, year-over-year growth, lead generation, client retention, quality of submissions, conversion rates, and overall customer service.

WINNER

LOUISA SANGHERA Zippy Financial

EXCELLENCE AWARDEES Abdulrasool (Russell) Munfaredi, Mortgage Pros Anthony O’Flynn, IFA Mortgages & Finance Chris Hill, Smartmove Professional Mortgage Advisors Damien Roylance, Entourage

AWARD SPONSOR

The Finance Brokers Association of Australia Limited (FBAA) was established in 1993 and is respected as the leading professional association for finance and mortgage brokers in Australia, with its leadership recognised internationally. The FBAA not only insists on the highest levels of professionalism, ethics and standards from its members but is the industry association of choice for finance professionals.

The FBAA philosophically stands to support your business needs as well as your mental health, and leads the advocacy to government for the industry, ensuring that brokers’ rights and future are preserved and well protected.

Contact details: P: + 61 7 38478119 E: info@fbaa.com.au W: www.liberty.com.au

PEPPER MONEY

BROKER OF THE YEAR – SPECIALIST LENDING This award recognises the best broker that provides specialist lending as part of their overall offering. Criteria include quality of submissions, conversion rates, lead generation, client retention, overall customer service, and loan volumes.

WINNER

MARK DAVIS The Australian Lending & Investment Centre EXCELLENCE AWARDEES Ditte Westbury, Viking Mortgages Jodie Wolfenden, Loan Market Gold Coast Marwan Rahme, Kanebridge Capital Matthew Punter, The Savings Centre Mhairi MacLeod, Astute Ability Group

Jordan Beh, Insight Finance

Thomas Morison, Smartmove Professional Mortgage Advisors

Karen Bashford, South Coast Business & Financial Solutions

Will Hamer, Hamer Finance

Kris Menon, KM Finance Mark Davis, The Australian Lending & Investment Centre Stephen McClatchie, Loans Australia

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EVENT PARTNER

EQUITY-ONE

BROKER OF THE YEAR – PRODUCTIVITY

AWARD SPONSOR

As Australia’s number one alternative lender, we live our mission: to help you succeed.

Since 2000, we’ve been providing a variety of home loan solutions, including some the banks won’t. We also provide car loans, personal loans, loans for professional equipment, and commercial loans. Our goal is to provide you with first-class service and innovative products to help cater to the needs of your clients who are unable to meet the lending criteria of traditional lenders and mortgage insurers.

Contact details: P: 1800 737 737 W: www.pepper.com.au/broker

This award recognises the best broker based on productivity improvements through increased office efficiencies and quality submissions. Criteria include percentage of applications submitted and that proceed without questions or delays; year-over-year growth; and percentage of applications approved for funding and handled without escalations.

WINNER

AWARD SPONSOR

Equity-One has established itself as a leader in commercial lending by providing fixed rate solutions with flexible repayment options. Equity-One offers a genuine alternative to business borrowers looking for traditional personalised service.

Contact details:

Dean Koutsoumidis, Managing director

DANIEL PYM

P: +61 3 9602 3477 T: +61 4 1236 5029 E: deank@equity-one.com W: www.equity-one.com

Loan Market Double Bay

EXCELLENCE AWARDEES Ben Walker, BW Finance Solutions Daniel O’Brien, PFS Financial Services Jacob Decru, Loan Market – One Network Broking James Chee, Ding Financial Jenish Manandhar, Home Loan Experts Josh Bartlett, Mortgage Advice Bureau Michael (Xin) Jin, MXJ Finance Prakash Rai, Home Loan Experts Xijing (Vivian) Wu, Ayers Financial Group

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MFAA

YOUNG GUN OF THE YEAR – FRANCHISE

This award recognises the best broker aged 35 or under (as at 1 July 2020) who has less than two years’ experience. Criteria include loan volumes, lead generation, quality of submissions, conversion rates, and overall customer service.

WINNER

LUKE WHITBREAD Mortgage Choice Erina NSW

EXCELLENCE AWARDEES

AWARD SPONSOR

The Mortgage & Finance Association of Australia (MFAA) is the peak national industry body for professional finance brokers, lenders, aggregators and service providers.

Established in 1982, the MFAA represents over 13,500 members and contributes to a healthy, competitive mortgage and finance industry through advocacy, education and business-building support. Our finance brokers operate within a professional Code of Practice that supports the alignment of the retail mortgage market with consumer trust and confidence.

Together with our members, we work with the industry, regulators and government to assist our members to match consumers with mortgage or financing outcomes that meet their individual financial objectives.

Alyssa Russo, Loan Market Mermaid Beach Qld

Contact details:

Ryan Pappas, Mortgage Choice Sydney NSW

Head of marketing

Stephen Hale, P: +61 2 8905 1300

BROKER OF THE YEAR REGIONAL

This award recognises the best broker who derives the majority of their income from regional areas (outside of major capital cities). Criteria include loan volumes, year-over-year growth, lead generation, client retention, quality of submissions, conversion rates, and overall customer service.

WINNER

JOHN CONTARINO Mobile Finance Broker

EXCELLENCE AWARDEES Fiona Erquiaga, Smooth Sailing Finance Consulting George Mihalopoulos, Connected Finance Heath Williams, Loan Market Newcastle Jason Cuerel, Mortgage Innovations Karen Bashford, South Coast Business & Financial Solutions Mhairi McLeod, Astute Ability Group Paddy O’Sullivan, Mortgage Choice Nowra

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EVENT PARTNER

FEATURED WINNER JOHN CONTARINO Mobile Finance Broker JOHN CONTARINO is a self-made success who’s built an exceptional career in the financial field over the course of 43 years. In 2017 he made a drastic change and left behind his life in banking to create a brokerage business from the ground up. Mobile Finance Broker began as a one-man show run out of a sublet office in a small, highly competitive region of the country. However, over four short years, Contarino’s brokerage has grown incredibly. Now, he and a small team occupy a high-profile office in the main street of Atherton, Qld, that is decorated with more than eight brokerage awards.

Contarino’s success as a broker can be credited to several factors. Firstly, his extensive background in the financial field has granted him a breadth of knowledge and experience that his competitors sorely lack. Secondly, Contarino has found that the secret to building a successful brokerage business lies in the relationships he builds with people.

He feels that the key driver in generating referrals and building qualified opportunities begins with offering a stellar customer experience that people will remember.

Lastly, a great deal of Contarino’s success can be attributed not to skill or learned experience but to passion. For him, there is no greater joy than helping a client fulfil their dreams of homeownership. Being part of the special and important moments in the lives of others is what makes him happy. No one can describe this better than Contarino himself, who has proudly stated that “I absolutely love what I do; becoming a broker was the best career decision I have ever made”.

W: www.facebook.com/mobilefinancebroker E: john@mobilefinancebroker.com.au P: +61 4 0700 3415

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ADELAIDE BANK

YOUNG GUN OF THE YEAR – INDEPENDENT

This award recognises the best independent broker aged 35 or under (as at 1 July 2020) who has less than two years’ experience. Criteria include loan volumes, lead generation, quality of submissions, conversion rates, and overall customer service.

WINNER

ANDREW HADJIDEMETRI Australian Financial & Mortgage Solutions

AWARD SPONSOR

As a lender solely dedicated to third party distribution, we’re renowned for going out of our way to support brokers.

While the way we do things has certainly progressed over time, who we are, and what we stand for, remains unchanged.

Competitive pricing and smart products are just one part of the Adelaide Bank experience. It’s the people element that makes our business special and our personal approach that sets us apart.

We have the strength of Bendigo and Adelaide Bank Limited, a top 60 ASX company, behind us, and a history of over 150 years. We look forward to continuing our support of the industry and providing an even more compelling case for you to do business with us.

RESIMAC

BROKERAGE OF THE YEAR – DIVERSIFICATION This award recognises the brokerage that has implemented the most effective diversification business model. Criteria include products and services offered, year-over-year growth, impact of the diversification offering on business growth, customer service proposition, value proposition, and stakeholder engagement strategy.

WINNER

EMPOWER WEALTH

EXCELLENCE AWARDEES

Contact details:

EXCELLENCE AWARDEES

Elodie Blamey, Clover Financial Solutions

P: 1300 791679 E: partnerassist@adelaidebank.com.au W: www.brokers.adelaidebank.com.au

Ayers Financial Group Bayside Commercial Mortgages

Lalit Parmar, SMART Loans & Conveyancing

Birdie Wealth

Luke Oxenham, Empower Wealth Mortgage Advisory

Loans Australia

Experity Capital

Manish Devnani, Deals Mortgage

Momentum Wealth

Matt Spears, Evoke Capital

Money Merchants

Pallavi Laroia, Excel Mortgages

Successful Ways

Steven Korner, Glass Financial Group

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EVENT PARTNER

BROKERAGE OF THE YEAR – REGIONAL

AR

AWARD SPONSOR

Resimac is one of Australia and New Zealand’s premier non-bank lenders and was recognised as Non-Bank of the Year at the 2020 Australian Mortgage Awards. We offer competitive interest rates and flexible home loan options with great features, including offset accounts and the ability to make extra repayments and redraw funds.

Thanks to our flexible funding program, we provide solutions to a wide range of customers, including the self-employed and contractors as well as customers with previous credit impairments, through our network of over 12,000 broker partners.

With a history dating back to 1985, Resimac has a proven track record of growth and stability. We are pleased to service over 50,000 customers with a loan book of over $15bn. As we are listed on the Australian Securities Exchange (ASX), our customers have the assurance that we adhere to the ASX’s strict standards on reporting and transparency in the way we run our business.

As well as being regulated by the Australian Securities & Investments Commission (ASIC), we are also members of the Australian Financial Complaints Authority (AFCA). This means that in the rare event that a complaint is lodged, a customer has recourse via an independent authority if they are dissatisfied with our response.

We are a full member of the Mortgage & Finance Association of Australia (MFAA).

This award recognises the best brokerage operation based in a regional area (outside of major capital cities). Criteria include loan volumes, year-over-year growth, lead generation, client retention, quality of submissions, conversion rates, customer service proposition, value proposition, stakeholder engagement strategy, and broker training and development.

WINNER

LOAN MARKET GEELONG EXCELLENCE AWARDEES Astute Gippsland Aussie Launceston Carol King, Loan Market Buderim Punters Savings Centre Group South Coast Business & Financial Solutions Sphere Finance Wealthfolio Financial Services

Contact details: W: www.resimac.com.au

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MOST EFFECTIVE DIGITAL STRATEGY – BROKERAGE

BROKERAGE OF THE YEAR (1-5 STAFF)

This award recognises the brokerage that has best harnessed technology and digital solutions to improve business, aid brokers, and leverage overall client experience. Criteria include key business objectives behind the digital strategy; use of digital channels to acquire, connect, interact with and retain customers; and features and quality of content that optimise customer engagement and lead generation.

This award recognises the best brokerage operation with 1–5 staff (or full-time equivalents), including loan writers and support staff across all company offices/branches. Criteria include loan volumes, year-over-year growth, lead generation, client retention, conversion rates, customer service proposition, value proposition, stakeholder engagement strategy, and broker training and development.

WINNER

WINNER

ZIPPY FINANCIAL

PFS FINANCIAL SERVICES

EXCELLENCE AWARDEES

EXCELLENCE AWARDEES

Birdie Wealth

Cinch

Carol King, Loan Market Buderim

IFA Mortgages and Finance

Ding Financial

Loan Market Double Bay

Entourage

Mortgage Choice in Elsternwick

Link Advance

Numero Uno Finance

Mortgage Choice Ormeau

Stoneturn

Shore Financial

Thatcher Finance Zippy Financial

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EVENT PARTNER

FEATURED WINNER

CINCH Does the thought of financing your property keep you up at night?

Well, it shouldn’t. Whether purchasing a new home, renovating, or constructing a new development, this should be an exciting time every step of the way – including financing. It may sound shocking, but going through the finance process does not have to be a daunting task; in fact, there’s absolutely no reason it shouldn’t be a Cinch.

Recognised by MPA magazine as a Top 100 Broker in 2021 and one of the top Independent Brokerages of 2021, Cinch is changing the lending experience. Founded by Suvidh Arora, the brokerage was created after he saw that the need to help all Australians achieve the financial future they deserved wasn’t being fulfilled.

Upon completing an MBA in Strategic Finance and a Diploma in Finance and Mortgage Broking Management, Arora realised that the brokering industry unnecessarily complicated the financing process for applicants.

“I created Cinch with a simple mission in mind,” Arora says.

“Our goal is to remove the jargon from the process of getting a loan, educate and give customers more choice, with more ease.

That’s it.” Removing the complexities from its approach allows Cinch to provide smart service, but simplified. Drawing upon the investment banking and strategy consulting experiences of its team, Cinch works alongside you to determine the outcome YOU want to achieve.

Whether it’s about funding an investment, refinancing, selfmanaged super fund lending, or anything to do with property,

Cinch is always focused on creating long-term wealth for you.

Always ready to listen first, Cinch implements a three-step process to tailor a customised strategy based upon your individual circumstances. “No two people are the same,” Arora says, “just as no two people’s financial circumstances are, so why is it expected that brokers treat everyone the same when it comes to lending?”

Before talking about money, Cinch prefers to get to know its customers better. The first step in the process is an initial two-way conversation designed to allow Cinch a greater insight into who you are, what you want to achieve and how the brokerage can help.

The second step is completing Cinch’s digital application, which is so simple to fill out it can be completed in the time it takes for you to have your morning coffee. Cinch then gets to work creating a shortlist of the best lending options that suit your needs. The last step is undoubtedly the easiest and most exciting – confirmation of your loan approval! Not to worry, though, because this isn’t goodbye. The Cinch team will continue to help you at every step of your financing journey, through settlement and beyond.

Take the worry out of your next big purchase. All you need to take the next step towards financing your future is Cinch – it really is as easy as 1, 2, 3!

P: 04 588 72992 E: suvidh@cinch.loans W: www.cinch.loans

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BROKERAGE OF THE YEAR (6-20 STAFF)

This award recognises the best brokerage operation with 6–20 staff (or full-time equivalents), including loan writers and support staff across all company offices/branches. Criteria include loan volumes, year-over-year growth, lead generation, client retention, conversion rates, customer service proposition, value proposition, stakeholder engagement strategy, and broker training and development.

WINNER

FEATURED WINNER

XIN MORTGAGE

XIN MORTGAGE

FY2021 was a great success for XIN Mortgage, with outstanding results achieved both financially and non-financially.

EXCELLENCE AWARDEES 1st Street Financial Ayers Financial Group Hejaz Financial Services Mortgage Advice Bureau Melbourne Mortgage Choice in Hornsby and the Northern Beaches Mortgage Choice Melbourne Mortgage Pros

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We reported $476m in total loan settlements in FY2021, a 45% increase compared to $329m in settlements in FY2020. The average settlements across the whole team reached 30 million a year. Moreover, more than 40% of settlements came from repeat and referral business – a true result of the effective and efficient client servicing by our professional broker team.

Another great success we achieved is customers’ satisfaction through our continuous delivery of a high standard of client service, evidenced by our five-star rating on Google Reviews. With the contribution of 223 five-star customer Google reviews in FY2021, we are proud to have a total of 439 valuable customer reviews on Google, which is an outstanding figure among all the major brokerages in the industry. Nothing makes us happier than seeing our clients give us continuous positive feedback and referring more clients to us.

P: +61 4 5218 8773 E: william.xin@xin.com.au W: www.xin.com.au

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EVENT PARTNER

CBA

BROKERAGE OF THE YEAR (>20 STAFF)

This award recognises the best brokerage operation with over 20 staff (or full-time equivalents), including loan writers and support staff across all company offices/branches. Criteria include loan volumes, year-over-year growth, lead generation, client retention, conversion rates, customer service proposition, value proposition, stakeholder engagement strategy, and broker training and development.

WINNER

AWARD SPONSOR

At Commonwealth Bank it’s about working better together; we are dedicated to continually improving the experience to make our partnership stronger. We recognise that buying a home is a big commitment, so it’s important that our broker partners and their customers are supported through every step of the homebuying journey.

Contact details: W: www.commbroker.com.au P: 13 25 88

HOME LOAN EXPERTS EXCELLENCE AWARDEES Astute Melbourne City South and Gippsland Empower Wealth Loan Market – One Network Broking Redrock Group Shore Financial Simplicity Loans and Advisory Smartmove Professional Mortgage Advisors The Australian Lending & Investment Centre

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NEXTGEN.NET

NEW BROKERAGE OF THE YEAR

This award recognises the best brokerage office or branch that has been in operation for less than two years (must have started on or after 1 April 2017). Criteria include loan volumes, year-over-year growth, lead generation, quality of submissions, conversion rates, customer service proposition, value proposition, and stakeholder engagement strategy.

WINNER

AWARD SPONSOR

NextGen.Net is Australia’s leading technology solution provider to the lending industry, focused on delivering quality products and services to a range of banks, non-bank lenders and brokers.

Our mission is to make lending easy by delivering best-in-class Software as a Service (SaaS), and leading the market in quality management, compliance and processing efficiencies.

BOQ

BROKER BEST CUSTOMER SERVICE FROM AN INDIVIDUAL OFFICE This award recognises the brokerage office or branch that has displayed excellence over the past 12 months in maintaining consistent and sustainable customer service standards. Criteria include product knowledge, product offering, client retention, customer service proposition, value proposition, and stakeholder engagement strategy.

WINNER

Contact details: P: +61 2 9929 5999 E: info@nextgen.net

EVERLEND

ENTOURAGE

EXCELLENCE AWARDEES

EXCELLENCE AWARDEES

Crew Financial

Loans Australia

Ding Financial

MoneyQuest Penrith & Blue Mountains

Excel Mortgages FirstPath Financial Group MoneyQuest Burwood Ortus Financial

Mortgage Choice Ormeau No Fuss Home Loans Premier Financial Advocates Shore Financial Smartmove Professional Mortgage Advisors XIN Mortgage Zippy Financial

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EVENT PARTNER

PRIME CAPITAL

ER

AGGREGATOR OF THE YEAR (UP TO 500 BROKERS)

AWARD SPONSOR

Bank of Queensland (BOQ) is one of Australia’s leading regional banks.

Over the past 12 months, the bank has invested in reinvigorating its third party proposition under the leadership of Kathy Cummings, who came on board as general manager, BOQ Broker, in January 2020.

From simplifying their product offering, processes and procedures to launching a Secure Broker Portal, the BOQ Broker team have already undergone a significant transformation, and they are far from finished, with plenty of exciting enhancements still in the pipeline.

With an ambition to be the regional bank of choice for brokers and customers, BOQ is focused on making it as simple and convenient as possible for brokers to partner with the bank to provide exceptional home lending experiences, whether the customer is looking to buy their first home or their next home, or to refinance.

Contact details:

This award recognises the best aggregator with up to 500 brokers, with 30% weighting given to the results of the 2020 MPA Brokers on Aggregators survey.

Criteria include accuracy and timeliness of commission payments; quality of lending panel; IT and CRM support; broker communication; BDM support; compliance support, training and education; and lead generation.

WINNER

MONEYQUEST EXCELLENCE AWARDEES

AWARD SPONSOR

We’re for Mortgage Brokers.

With a complete range of specialist mortgage products, we help mortgage brokers settle more loans for their clients. Adding our ‘Fast, Simple, Loans’ model to your toolkit will increase your conversion rate and revenue.

We’re proud of our reputation of being fast, flexible and transparent. And being able to tailor solutions that other, more traditional lenders can’t or won’t.

Like providing loans of up to $10m at interest rates from just 4.95% p.a.* Our team of helpful BDMs are no-nonsense, results-driven individuals who keep their promises and go above and beyond to get things done. Join us today and start supplying your clients with fast, simple loans.

Contact details:

Centrepoint Alliance Lending Liberty Network Services

T: 1300 766 075 E: info@primecapital.com W: www.primecapital.com

Purple Circle Financial Services

BOQ Broker T: 1300 434 697 E: BOQBroker@boq.com.au W: www.boq.com.au

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ONDECK

AGGREGATOR OF THE YEAR (OVER 500 BROKERS)

This award recognises the best aggregator with over 500 brokers, with 30% weighting given to the results of the 2020 MPA Brokers on Aggregators survey. Criteria include accuracy and timeliness of commission payments; quality of lending panel; IT and CRM support; broker communication; BDM support; compliance support; training and education; and lead generation.

WINNER

AWARD SPONSOR

Having loaned over US$13bn to more than 110,000 small businesses worldwide, OnDeck is a proven leader in transparent and accountable online lending. Since 2006, we’ve been offering smart, simple solutions that put brokers and their clients first, delivering more capital, faster and more often.

BEST INDUSTRY MARKETING CAMPAIGN

This award recognises the best belowthe-line (B2B) marketing and advertising campaign, conducted by an organisation marketing to mortgage brokers, that has demonstrated the greatest impact on the industry over the last 12 months. Criteria include the overall campaign strategy and objectives, marketing mix applied, and evidence of success, including quantitative and qualitative results where available.

WINNER

Contact details:

Nick Reily National channel and partnerships manager P: +61 4 1475 0896 E: nreily@ondeck.com.au W: ondeck.com.au/broker

FINSURE

PEPPER MONEY

EXCELLENCE AWARDEES

EXCELLENCE AWARDEES

Astute Financial Management

86 400

Aussie Home Loans

AFG

Loan Market Group

Bankwest

Mortgage Choice

La Trobe Financial

outsource Financial

Liberty Financial

Specialist Finance Group

Mortgage Choice Suncorp

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EVENT PARTNER

FEATURED WINNER

PEPPER MONEY Inspired by customer insights into how real-life events impact Australians and their ability to get finance, Pepper Money’s ‘Real Life’ campaign normalises the idea of non-conforming lending.

The multichannel integrated campaign spans TV, radio, podcasts, digital, social, trade and sponsorship and has helped brokers have positive conversations with more clients – and positioned Pepper Money as the home of real-life loan options.

“Our Real Life campaign was recognised as Best Industry Marketing Campaign 2021 for being highly successful in achieving brand awareness, reach and lead targets,” says Pepper Money’s general manager of marketing and brand, Sarah Pikardt.

“After pivoting creative and channels to the new reality of 2020–21, it achieved outstanding results, including 40% growth in brand awareness, 2.37 million completed video views, and significant home loan and personal loan enquiry growth,” she says.

Pikardt says the campaign was created to show Australians they have options, and they don’t need to give up on their dreams. “The challenges Australians face are just a moment in time and don’t define who they are as people. Because at Pepper Money we see people for who they are, not for what their situation is. The Real Life campaign has helped brokers have positive conversations with more clients – and positioned Pepper Money as the home of loan options.”

Pikardt adds, “We’re thrilled to be recognised in this highly competitive category. To be up against major competitors like the traditional banks with big budgets and win is a true reflection of our team’s creativity and passion for the Pepper Money brand.”

P: 1800 737 737 E: scenarios@pepper.com.au W: www.pepper.com.au/broker

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BEST INDUSTRY SERVICE

This award recognises the service provider that adds the most value to its customers’ businesses through its solution offerings (eg software, technology, legal, compliance, training and education).

Criteria include the service provider’s value proposition, the industry’s need for the service, how the service has added value, and overall commitment of the organisation to its customers.

WINNER

FEATURED WINNER SHERLOK Built by brokers for brokers, Sherlok is Australia’s first and only automated repricing and home loan refinancing tool. It harnesses the power of data, artificial intelligence and automation, and works quietly in the background to make the broker look like the hero.

NEXTGEN.NET

EXCELLENCE AWARDEES Affordable Staff Broker Essentials iLOAD Loans Nodifi Sherlok Social Broker Wikibroker

Sherlok was founded by award-winning mortgage broker Adam Grocke in 2019. After 12 years as a broker, Grocke had become frustrated with banks offering better interest rates to new mortgage customers while existing customers were being charged a ‘loyalty tax’ (a higher interest rate the longer they are with the bank). Post royal commission, Grocke found that brokers were getting busier with new clients, but hiring an admin team to manage existing clients wasn’t an economic way of tackling trailbook churn.

He identified two main problems: difficulty refinancing a client to another lender, and trailbook drop-off. Research found the primary reason clients leave brokers to refinance elsewhere is because they realise their interest rate is too high, and lenders are only offering very low rates to new clients – not brokers’ existing clients.

So, he set about finding a solution to mitigate the time-consuming nature of repricing and refinancing clients while writing new business and managing a brokerage.

Powered by AI technology, Sherlok helps brokers retain clients by automating the repricing process and generating quality refinancing leads from their trailbook. The AI technology predicts two things: when a client will leave a broker, and when a client is paying too much interest. Sherlok then automatically lowers the client’s interest rate, potentially saving them thousands.

Sherlok’s mission is to put brokers and their clients first, and help everyone save money with a single click. It’s a win-win situation: brokers’ clients save thousands, the brokers keep the clients for longer, the aggregators earn more trail commission for longer, and the lenders keep their clients.

P: 1300 664 886 E: hello@sherlok.com.au W: www.sherlok.com.au

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17/11/2021 1:45:38 AM

EVENT PARTNER

FEATURED WINNER

AFFORDABLE STAFF Affordable Staff is an Australia and New Zealand-based outsourcing business that supplies dedicated virtual assistants that are upskilled and trained to adapt to their clients’ businesses. Our constantly growing Philippines office employs ‘Incredible, Motivated and Driven People’ who truly care about the quality of their work, and how they can best help their clients.

Our team have developed efficiency-driven mortgage broking-specific training, as well as workflow and process templates that can be applied and adapted to an individual broker or at a larger scale. With a team of over 120 (and growing weekly) mortgage broker VAs based in Bacolod City, we are working with brokers across the country to help them remove time-consuming, low-value tasks off the desks of key local personnel so that they can focus on helping more customers with higher-service-level delivery.

With close to 15 years’ experience, Affordable Staff has finely tuned its recruitment, training and client-matching process that results in great outcomes for its broker clients and their end customers.

P: 1300 139 482 E: brokers@affordablestaff.com.au W: www.affordablestaff.com.au

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BEST MAJOR BANK BDM

BANKWEST

BEST AGGREGATOR BDM

This award recognises the best aggregator BDM. Criteria include accessibility and communication, demonstrated understanding of their brokers’ businesses, nominee’s product knowledge, and added value to the brand they represent and the broker channel.

WINNER

AWARD SPONSOR

Bankwest’s heritage spans 125 years, and we’re proud to have been partnering with the broker industry since the 1970s. We have the ambition to be the Best Broker Bank in Australia and will continue to support brokers in the critical role they play in improving customers’ financial wellbeing across Australia.

This award recognises the best major bank BDM. Criteria include accessibility and communication, demonstrated understanding of their brokers’ businesses, nominee’s product knowledge, and added value to the brand they represent and the broker channel.

WINNER

Contact details:

TRACEY NAJJAR Centrepoint Alliance Lending

EXCELLENCE AWARDEES

Ian Rakhit General manager third party personal and business banking P: +61 476 842 344 E: ian.rakhit@bankwest.com.au W: www.bankwest.com.au

LESLEY KLAEGE ANZ

EXCELLENCE AWARDEES

Angela D’Angelo, Choice Aggregation

Blake Hauber, Westpac

Greg Cooke, PLAN Australia

Derani Guastella, NAB

Hannah Carter, SFG

Kevin Skafte, ANZ

Heather Gallagher, outsource Financial

Sam Tang, Westpac

Kavish Kamal

Tracy Smith, Westpac

Mark Lewis, FAST – Finance & Systems Technology Noushig Megerditchian, Finsure Patrick Clarkson, FAST Patrick Moore, Loan Market

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EVENT PARTNER

BEST NON-MAJOR BANK BDM

MORTGAGE CHOICE

This award recognises the best non-major bank BDM. Criteria include accessibility and communication, demonstrated understanding of their brokers’ businesses, nominee’s product knowledge, and added value to the brand they represent and the broker channel.

This award recognises the best non-bank BDM. Criteria include accessibility and communication, demonstrated understanding of their brokers’ businesses, nominee’s product knowledge, and added value to the brand they represent and the broker channel.

WINNER

WINNER

BEST NON-BANK BDM

AWARD SPONSOR

Mortgage Choice’s nearly three decades of experience give you the perfect platform to build your career in an industry on the up. Ethics, credibility and trust have been the backbone of our business since day one, while our transparent, community-first approach continues to set us apart.

Contact details:

MILENKO NOVAKOVIC

MICHELLE ROSE

ING

La Trobe Financial

EXCELLENCE AWARDEES

EXCELLENCE AWARDEES

Adam Livas, MyState Bank

Belinda Gray, Bluestone

Ava Aso, Adelaide Bank

Christopher Rayner, Firstmac

Aysun Portoglou, 86 400

Glen Gillespie, Better Mortgage Management

Grant Roden, Bankwest Heidi Hayward, Bluestone Jess Stevens, Adelaide Bank Nicholas Ganis, Macquarie Bank Omar Moussa, St. George Rick Cavanagh, Suncorp Tes Anderson, Bankwest

P: +61 13 77 62 E: homeloans@mortgagechoice.com.au A: Level 10, 100 Pacific Highway, North Sydney, NSW 2060

Joel Harrison, Thinktank Linette Laverdure, Moula Lydia Li, Prime Capital Matthew Hall, Liberty Samantha Kyriakidis, Pepper Money Stacey Madejewski, La Trobe Financial

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MSA

NATIONAL BANK OF THE YEAR

This award recognises the best bank in the mortgage industry whose performance displayed year-over-year growth, created service innovations, contributed industry support, and made a positive impact on the wider community in the past 12 months.

WINNER

BANKWEST

EXCELLENCE AWARDEES 86400 ING Bank Macquarie MyState Bank St. George Banking Group Westpac

AWARD SPONSOR

MSA National is a national law company with over 30 years’ experience in the mortgage industry, providing mortgage documentation and settlement services to funders, mortgage managers and originators. MSA National does not outsource any part of its process and has end-to-end service capability in each state capital managed and supervised by a national director.

This local expertise is very important in managing title issues, complex matters and risks that are often state-specific.

Our national system provides online tools for tracking and reporting and can fully integrate with clients for instructions and back-channel messages, which maximises STP. Combined with our team of friendly and responsive staff, MSA National is able to deliver service levels that are consistent, high-quality and solicitor-certified. We make continuous investment in our people, processes, technologies and services, which allows us to continuously improve service and customer experience.

MSA National’s client-centric and service-oriented culture, coupled with our mantra of “Think Nationally and Act Locally”, has allowed us to develop strong long-term relationships with local, regional and national clients.

NON-BANK OF THE YEAR

This award recognises the best non-bank in the mortgage industry whose performance displayed year-over-year growth, created service innovations, contributed industry support, and made a positive impact on the wider community in the past 12 months.

WINNER

PEPPER MONEY

EXCELLENCE AWARDEES Better Choice Home Loans Firstmac Heartland Reverse Mortgages La Trobe Financial Liberty Prime Capital Resimac

Contact details: P: +61 2 8719 4000 P: 1300 672 729 F: +61 2 8719 4040 W: www.msanational.com.au A: Level 5, 4 Drake Ave, Macquarie Park, Sydney, NSW 2113

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EVENT PARTNER

FEATURED WINNER

PEPPER MONEY Pepper Money helps people succeed by offering flexible home loans, commercial loans, personal loans and asset finance. By staying true to our values of being Can Do, Balanced, and Real in the face of extreme disruption this year, we were able to retain our position as brokers’ preferred non-bank lender and help thousands of everyday Australians and Kiwis navigate real life in a year like no other.

Pepper Money CEO Mario Rehayem and the team are delighted to be recognised again as Australia’s best non-bank lender by the Australian Mortgage Awards. “This year the non-bank sector has been ultra-competitive, which makes these awards extra special to everyone at Pepper,” says Rehayem.

“We’ve got a lot to celebrate this year, along with this win and being awarded the Best Industry Marketing Campaign award – we have commemorated our 21st birthday, our return to the ASX in May 2021, and our Philippine office (PSO Manila) joining the Circle of Excellence at the prestigious Asia CEO Awards 2021. It’s all so we can offer an award-winning non-bank option to help dreams become real life.”

The award would not have been possible without the continued support of brokers and introducer partners. Trust is a crucial factor driving the success of Pepper Money, Rehayem says. “Brokers trust Pepper Money to help them and their customers. They trust us to deliver consistent market-leading turnaround times; they trust us to deliver consistent credit-decisioning; and they trust us to look after their customers post settlement,” he says.

“What sets us apart in the market is trust, transparency, speed to yes, consistency, diversification of products, and our people. These are the ingredients to our success and why we’ve been recognised as the leading non-bank in the market.”

P: 1800 737 737 E: scenarios@pepper.com.au W: www.pepper.com.au/broker

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NON-BANK OF THE YEAR

FEATURED WINNER

HEARTLAND REVERSE MORTGAGES Since 2004, Heartland Reverse Mortgages has helped more than 22,000 Australian seniors release over $1.3bn of equity from their homes to fund a more comfortable and independent retirement.

As Australia’s leading reverse mortgage provider, Heartland understands the needs of seniors and offers award-winning, market-leading products with broad criteria, flexible options and substantial customer protections.

We are committed to providing finance options that work for seniors, and to educating the broker community about how they can diversify their businesses to meet the needs of their older clientele.

Heartland’s Reverse Mortgages received two awards in FY21, including a 5-Star Lender award from Your Mortgage in 2021 and InfoChoice’s Best Reverse Mortgage for 2020. Previously, we were also awarded Money magazine’s Best Reverse Mortgage for four consecutive years (2016–19) and the Canstar Reverse Mortgage Provider of the Year award in 2017 and 2018 (both now discontinued). We have also been nominated in the Australian Mortgage Awards for the Most Effective Digital Strategy – Lender award in 2019 and 2020, and Non-Bank of the Year in 2020.

These awards, combined with our longevity, demonstrate Heartland’s ongoing commitment to the broker channel and to creating an exceptional product for seniors, supported by quality service.

Heartland also has a culture that places significant importance on the duty of care we have for every customer, with extensive processes and safeguards in place to detect and prevent elder abuse, as well as resources on our website to educate brokers and customers. We are one of only 19 companies (and the only reverse mortgage provider) that is 100% committed to the Banking and Finance Oath, and we’ve also partnered with Dementia Australia since 2018 to support the work they do in promoting healthy ageing.

P: 1300 662 865 E: brokers@heartlandfinance.com.au W: www.heartlandfinance.com.au/reverse-mortgages

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EVENT PARTNER

LOAN SERVICES TEAM OF THE YEAR

MOST EFFECTIVE DIGITAL STRATEGY – LENDER

FINTECH LENDER OF THE YEAR

This award recognises the best loan processing and support services team in the mortgage industry who demonstrated excellence in internal and external customer service and a commitment to innovation.

This award recognises the lender that has best harnessed digital channels to provide brokers with practical, effective, and easily accessible facilities to help them with their businesses.

This award recognises the best technology-based (fintech) lender in the mortgage industry that has achieved year-over-year growth, improved businesses through the use of innovative technology, and leveraged on the overall client experience.

WINNER

WINNER

WINNER

BETTER CHOICE HOME LOANS

BANKWEST

86 400

EXCELLENCE AWARDEES

EXCELLENCE AWARDEES

EXCELLENCE AWARDEES

86 400

Firstmac

Butn

Bankwest

Heartland Reverse Mortgages

MoneyPlace

Resimac

Moula

Moula

Resimac

OnDeck

St. George Banking Group

Wisr

Westpac

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FINTECH LENDER OF THE YEAR

FEATURED WINNER

86 400 Since inception, 86 400 launched the first digital home loan experience for the broker channel, with the aim to remove the key pain points for brokers, such as by reducing time for approvals and the amount of paperwork required for applications.

In the last 12 months, 86 400 has partnered with several aggregators – AFG, Connective, Mortgage Choice, PLAN, FAST and Choice – meaning that over 85% of all brokers in Australia now have access to 86 400 home loans.

In 2021, 86 400 launched an online home loan application experience for refinances, purchases and pre-approvals. This has been well received and has made the home loan application process simple, intuitive and very easy for customers to complete themselves. The app experience is always improving to provide the best experience for customers to manage their financial world, and the introduction of OCR Labs so VOI can easily be completed in two minutes.

86 400 continues to innovate with its products, offering new features, including lending for LVRs up to 85% with no LMI; great rates; and numerous loan options through the Neat and Own home loans.

86 400 continues to grow, with an outstanding team of BDMs from different states, and dedicated and hard-working teams looking after broker support, lending operations and credit assessment.

P: 1300 086 400 E: service@86400.com.au W: www.86400.com.au

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EVENT PARTNER

A LOOK BACK: THE 2020 AWARD WINNERS Westpac Australian Broker of the Year Mhairi MacLeod, Astute Ability Group

Australian Brokerage of the Year Smartmove Professional Mortgage Advisors

La Trobe Financial Broker of the Year – Commercial Greg Pierlot, The 500 Group

FBAA Broker of the Year – Independent Kris Menon, Origin Finance

Pepper Money Broker of the Year – Specialist Lending Mhairi MacLeod, Astute Ability Group

Broker of the Year – Productivity Josh Bartlett, Mortgage Advice Bureau

Broker of the Year – Regional Mhairi MacLeod, Astute Ability Group

MFAA Young Gun of the Year – Franchise Katie Dowton, Mortgage Choice

Adelaide Bank Young Gun of the Year – Independent Thomas Morison, Smartmove Professional Mortgage Advisors

Brokerage of the Year – Diversification TM Finance Group

Brokerage of the Year (1–5 Staff) Atelier Wealth

Brokerage of the Year (6–20 Staff) BF Money

Commonwealth Bank of Australia Brokerage of the Year (>20 staff) Smartmove Professional Mortgage Advisors

Brokerage of the Year – Regional MoneyQuest Wollongong

NextGen.Net New Brokerage of the Year Experity Capital

BOQ Broker Best Customer Service from an Individual Office Time Home Loans

Most Effective Digital Strategy – Brokerage Infinity Group Australia

Best Industry Marketing Campaign Aussie

Best Industry Service Broker Essentials

Aggregator of the Year (Up to 500 brokers) National Mortgage Brokers

OnDeck Aggregator of the Year (Over 500 brokers) Loan Market Group

Bankwest Best Aggregator BDM Peter Bryant, Vow Financial

Best Major Bank BDM Natalie McCullough, CBA

Best Non-Major Bank BDM John Loukadellis, Macquarie

Mortgage Choice Best Non-Bank BDM Belinda Gray, Bluestone

Bank of the Year ING

Non-Bank of the Year Resimac

Loan Services Team of the Year Bankwest

Most Effective Digital Strategy – Lender Bankwest

Fintech Lender of the Year 86 400

www.mpamagazine.com.au

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AWARD SPONSORS

OFFICIAL PUBLICATIONS

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17/11/2021 1:47:29 AM

MPA -Full Page (w) 210mm x (h) 268mm

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17/11/2021 1:47:32 AM

PEOPLE

OTHER LIFE

TELL US WHAT YOU GET UP TO Email rebecca.pike@keymedia.com

“ It ca n be fu n when you’re winning [poker], but you ca n get into a bad rut of mistakes. I guess you’re always learning from it ”

17

Age at which Mitch McIntyre started playing poker

3

Number of tournaments he has taken part in

30th

Place out of 400 in first poker state championship

BECOMING A POKER PRO

When he’s not writing home loans, Mitch McIntyre is either rising up the ranks of competitive poker, or kickboxing to keep fit

AFTER WATCHING the World Series of Poker on television in his teens, Mitch McIntyre, now broker and director at McIntyre Finance, learnt the card game himself, playing with friends and then in local pubs.

At around the age of 19 he qualified for the Queensland championship, when he placed 30th out of about 400 players.

His second tournament lasted three days,

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playing from morning to evening, and out of a huge field of 1,500 competitors he came 150th.

“It’s not super serious; it’s just for fun.

But one day I’d like to go over to the States and go into world poker there, just as a fun thing to do,” McIntyre says.

Not just a keen poker player, McIntyre is also trained in kickboxing. This started as a way of improving his health when he

was overweight; then, after losing 40kg, he took part in a six-week kickboxing camp in Thailand.

“It was awesome; it was a great experience,” he says. “Doing that training makes you feel good because you know you’re healthy and can achieve things. I’ve come from being hardly able to do anything, being a real unfit guy, and I just put my mind to it and it really paid off.”

www.mpamagazine.com.au

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17/11/2021 1:49:26 AM

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17/11/2021 1:49:38 AM