Process to Start Career as a Mortgage Broker

Career as a broker can be extremely rewarding if you follow all steps wisely. As a mortgage broker Adelaide, you not only help your customers to get finance but also help them to get their dream home. All of us have a dream to own a house to raise our family in a safe and secure environment and laying the foundations for financial prosperity.

As a broker, you meet a diverse range of interesting customers and face a variety of challenges that ultimately give you experience to grow your career. 

Following points will guide you to begin your journey towards becoming an accredited finance broker and discover in depth details.

1) Sign up to the MFAA, a leading broker association. Signing up is totally free of cost and gives you access to some of the benefits of MFAA membership including MFAA News.

2) Obtain qualifications including a Diploma in Mortgage Broking and a Certificate IV. There are a variety of providers who can help you get these qualifications.

3) Choose an aggregator to support you through accrediting with a panel of lenders. The institute helps you with software, business development, marketing, compliance support, and much more. 

4)  Become a representative of a license holder or get your Australian Credit License (ACL). A credit license is issued by ASIC authority. It will empower you to engage in credit activities such as giving credit advice. As a new broker it may be more appropriate to become a representative of a license holder as credit licensed holders are held to very high standards . If your aggregator is a licence holder then can appoint you as a representative. 

5) You need to Upgrade your MFAA membership to a loan-writer category membership. It allows you to commence your profession as a mortgage broker. 

6) Choose a mentor to help you navigate your first two years as a broker and oversee & check your work.

There are several other smaller steps along the way to becoming a broker. But above is a systematic process to avoid any issue later. It will dedicatedly guide you step-by-step to help and support you along with your journey. As a MFAA broker member, you receive an extensive range of benefits that will help you build and run successful businesses. 

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