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Starting out in a new industry

Finance Brokers Association of Australia (FBAA) | June 01, 2018

When you think of an ‘inventor’, there’s a fair chance your mind will conjure the cliché white-haired, white-coated genius tinkering away in a lab. 


But, of course, not all inventions are born this way. 


The invention of mortgage broking in Australia was a little less ‘Frankenstein’ and a bit more serendipitous. 


For our cover story this edition, we talk to Vernon Spencer about the beginning of mortgage broking in Australia, back in 1972.


#brokermag out now. https://www.fbaa.com.au/broker-magazine


What was your start in the industry like?

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About Me

Finance Brokers Association of Australia (FBAA)

Finance Broker
FBAA
www.fbaa.com.au
Woolloongabba, Queensland
07 38478119
The Finance Brokers Association of Australia (FBAA) is a national association representing finance and mortgage loan writers throughout Australia. It was formed in the belief that the establishment of measurable standards of proper professional practice in sourcing domestic and commercial funding was in the best interests of its customers/consumers and vital to the integrity and future wellbeing of the finance/mortgage broking industry. In the interests of members and their clients, the FBAA performs the following functions:
▪ Monitors legislation: and makes representations to Ministers and Members of Parliament both state and federal as appropriate.
▪ Code of Practice: adopted by industry professionals who offer domestic finance, commercial finance, lease and motor vehicle finance, business and debtor finance, as finance/mortgage brokers.
▪ Associated with training organisations: to provide programs to the industry and keep members up-to-date with changes to government legislation and regulations.
▪ Complaints and disciplinary procedures: designed to eliminate unacceptable working practices amongst its members, by providing an Internal Disputes Resolution Process (designed to meet Australian Standards). It also is a safeguard to both its Members and their clients/consumers against restrictive practices within the industry.