Hi all
I’m just wondering if anyone is doing or has completed the Diploma in Mortgage Lending offered by the Australian Securities Institute.
I would like to know what people think/thought of it, if jobs were easier to come by in mortgage broking once you’ve completed it, or anything else you might like to add.
Thanks
CheersI second this Message.
I am very interest myself about getting into Mortgage Broking.
So any info would be great for me also.
Carbloke how long does the course at SIA go for?
Cheers
TeyluCentral Coast NSW
“What have you done to make your life better?”
(American History X)Teylu
The course is offered either as a lecture and tutorial style or you can “flexi study”. Through flexi study you can start whenever you want, all you have to do is nominate your exam date.
The course consists of 6 subjects, through flexi study they suggest allowing 10 weeks for each subject.
Mortgage Broking is something I definitely want to get into so any replies would be appreciated, together with any advice for people entering the mortgage lending industry.
CheersI am currently a mortgage broker. You don’t really need the Securities institute course to become a mortgage broker. However, on interview, they will ask you if you have completed the UCCC course through the MIAA. Most employers will tell you to complete this before, as it shows them that you generally have an interest and will stick it out in the industry. It is also a requirement by all banks that you have completed the UCCC course in order to become accredited with the banks (so that you may sell their loan products). Most mortgage aggregators and originators are pushing that all brokers must have completed the Privacy and Compliance courses as well as Mortgage Lending Certificate III by the end of the year. By doing these courses you will become an AMC (accreditated mortgage consultant). Most banks are recommending that their brokers become AMCs as well. CBA are becoming tough and most banks will generally follow suit. You can do these through the MIAA, however, the equivalent TAFE courses are much cheaper. See http://www.miaa.com.au for advice or phone any TAFE that offers these courses. [
]Watch this space.
The government are going to release some draft legislation in a couple of weeks. This legislation may require mortgage brokers to have an AFS (Australian Financial Services) License (or be an authorised representative of an AFS holder). This will really shake the market up and make it more difficult for unqualified new brokers to enter the market.
My fingers are crossed hoping for this new requirement. This industry really needs to lift its standards.
Cheers
Stu
Property & Finance News
at http://www.prosolution.com.auHi everyone,
Stu, that will be great! The need for regulation/s are apparent, it will be a relief when it does come, methinks anyway.
Cheers
Sooshie []“small steps make the journey” (SAS)
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