Todays hosts are Sadish Visvalingam and stepping in for Beth CominoBeth Comino is the lovely Chelsea Deacon. As always we will chat about the happenings in the group and news in the wider industry that may be interesting to brokers.

In the hotseat this week we have David Browne, Mortgage broker with 16+ years experience in finance. Prior o being a broker, David worked for Westpac for almost 20 years. Manager Legal & Compliance and establishing loan processing centres! David is also Co Founder and Director of Remote Broker Solutions.

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News Topics this past week:

(1) Fair Work Australia case where a business directly employing someone outside of Australia is still subject to FWA rules and regulations.

Source: https://www.fwc.gov.au/.../decisionss.../pdf/2024fwc2669.pdf

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(2) AMP announces commission changes last Friday (after the wrap had gone to air. Will others follow?

Source:https://www.facebook.com/photo/?fbid=3899141367037120&set=gm.2773700406170253&idorvanity=471487283058255

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(3) VIC State Government implements changes to reduce investment properties? New Victorian Short Stay Tax & Vacant residential land tax. Good or Bad?Source:https://www.sro.vic.gov.au/short-stay-levyhttps://www.sro.vic.gov.au/vacant-residential-land-tax--

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(4) Australian Gov takes steps to ban under 16 from Social media.What does this mean for you? Will F&C need a new home????

Source: https://www.abc.net.au/.../how-the-age-minimum.../104571790

Today's hosts are Sadish Visvalingam, and back from her well deserved holiday, Beth Comino.

As always we will chat about the happenings in the group and news in the wider industry that may be interesting to brokers.

In the hotseat this week we have Rachael Bland. Currently streaming from the Philippines on a work trip with 2 other broker buddies.Topics this week:

(1) Recent discussion based on a FWA case regarding wrongful dismissal brought forward by an offshore worker against an Australian employer being heard at all is unprecedented and presents a potential issue regarding how those employees may be compensated according to Australian Law.

Source: https://www.facebook.com/share/p/1EmGMpEw4w/Question:

Question for Rachael: Given one of her business is about helping employers directly hire OS workers (rather than through a BPO), has the case been misunderstood?

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(2) Customer verification / KYC Dien had a recent conversation with a broker who placed (and settled) a personal loan with lender (a) and home loan with lender (b). The issue is that supporting docs provided have been found to be fraudulent. The broker is now being audited and may lose his accreditation.

Source: https://www.facebook.com/groups/financeandcoffee/?multi_permalinks=2786587634881530¬if_id=1733693811480950¬if_t=feedback_reaction_generic&ref=notif

Question: How much supporting docs do you collect? or should you collect? Do you call the employer as well?

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(3) RBA Holds .... again

Source: https://www.abc.net.au/.../rba-boss-opens-door.../104710274

Question: Previous indicators are rates wont move till mid to late next year. So why even suggest it may move in Feb? Also do you send content about RBA movements to your clients? Does it work for you?

I recently had the opportunity to sit down with Wendy Brown, Head of Broker Sales at Macquarie Bank, at their new headquarters in Sydney.

In this candid conversation, Wendy covers:

Grab a cuppa and listen to the full interview.

Todays hosts are Sadish VisvalingamSadish Visvalingam and stepping in for Beth Comino, is the lovely Chelsea Deacon. As always we will chat about the happenings in the group and news in the wider industry that may be interesting to brokers.

In the hotseat this week we have Paul Ballinger, Director at Real Estate Home Loans in Ballarat VIC. Paul has been in the game for 24 years. So it's easy to assume he has seen plenty of things.

Topics this week:

(1) How important is your Brand? Can someone take it?

Source: https://www.smh.com.au/.../why-paul-spent-two-years...

Question: What should businesses do to protect themselves from others who will try to take their brand?

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(2) Broker Market Share at 74.6%

Source: https://www.linkedin.com/.../mortgage-finance.../...

Question: Why has it continue to increase given all the head winds? Will we see a drop in 2025?

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(3) CBA introduces 15 year IO loans

Source: https://www.brokerdaily.au/.../19741-what-cba-s-interest...

Question: Is this a good thing? Will it put more fuel on the price of property? Will other lenders follow?

News and views relating to the F&C Community and the wider broker industry. This week, while Sadish Visvalingam is away, Dien Le stepped in to Co Host with ⁠Beth Comino⁠.

News and views relating to the F&C Community and the wider broker industry. This week, Beth Comino⁠ goes solo on a different style of the usual weekly wrap.

In the news this week: it is a new month so rate movement will be a topic of discussion again. Whilst the RBA has yet to make any announcements, lenders have begun to drop their own rates.

This week, Macquarie Bank dropped Fixed Rates to 5.39% p.a. for owner occupied P&I 2-year fixed term at ≤70% LVR. We ask our guests what they thought about this and if they think others will follow.

In this episode, we are joined by Kerri Buurman from WA and Tracy Trang Le from VIC. Its not often we have an all women panel to discuss things finance and of course being a business owner. Each of these ladies run very successful brokerages. So we asked them advice on what they would give others about:

*Being an Owner of a business

*Growing a business

*If they would do anything differently.

TOPICS THIS WEEK:

(1)LMG Announces Tech Fee Increases

Does it seem fair? but lets be realistic, F&C hosts our website on Amazon Web Services and the fees have increased over 23% in last year alone.  Best to contact your LMG BD Team rather than speculate.

(2)Cashback Offers are back - for existing clients only

Complaints from brokers will grow due to lots of hard work by brokers only to be undone by lenders who should have backed brokers on the first try with repricing. 

(3)REA Group buys 19.9% of Athena

The giant in terms of online property listings. Already owns 2 aggregators (Smartline and Mortgage Choice). Add to that REA branded brokers. And now they have their own product to distribute.

And of course we ask both Rob and Malcolm “what advice he would give to a broker who has just completed their second year in business”

News and views relating to the F&C Community and the wider broker industry.

Hosted by Sadish Visvalingam and Beth Comino

This week we have Michael Russell (MD MoneyQuest Group) on as guest.

TOPICS:

(1) Right to disconnect

A "right to disconnect" rule has come into effect in Australia, offering relief to people who feel forced to take calls or read messages from employers after they finish their day’s work.

Discuss: How will this affect a broker’s business?

Source article: click here

(2) NAB Announces new Commission changes

Effective from 1st September 2024, NAB has introduced a stepped clawback commission rate for new residential loans, easing the burden on brokers when clients refinance.

Discuss: Is this really a win for brokers? 

(3) US Fed cut rates by 50bps. Will the RBA follow?

A few things to consider.: We also see some lenders with sharp fixed rate drops (e.g Macquarie 5.59% 2 yr Fixed). However - the unemployment rate is still low (their target is 5%. Currently 4.2% in July) and inflation is still too high (currently tracking around 3.8% Year in Year).

Discuss: will the RBA follow next month? Australia is the only Western Country not to drop rates.

(3) US Fed as moved rates: what does this mean for RBA?

Todays hosts are Sadish Visvalingam and stepping in for Beth Comino is the lovely Chelsea Deacon.

As always we will chat about the happenings in the group and news in the wider industry that may be interesting to brokers.

In the hotseat this week we have Blake Buchanan (GM at Specialist Finance Group). We ask Blake what advice he give to someone who has a brokerage that is 2 years old. How will they future proof their business.

Topics this past week:

(1) The recent e-petition published in the Advisor.https://www.theadviser.com.au/.../46124-broker-lodges...

(2) Uber won their case with Rev NSW: How does this outcome affect what is happening in our own industry?:https://www.kwm.com/.../ubers-victory-in-court-puts...

(3) Compared to 8 years ago, there number of One Person Brokerages have decreased by 30%. Will this fall further?

News and Opinions on the happenings in the F&C Community and the wider industry.

Hosted by ⁠Sadish Visvalingam⁠ and ⁠Beth Comino⁠

This week we have two guests Chris Slater from Zettle and Rachael Bland from Get Smart Financial Services. We ask them what they would advise someone who has a Brokerage that is 2 years old in today's market.

Todays topics:

*Diversification into non consumer lending - W/C, A/F etc etc and brokers need to look into it. Clients are stickier, and the banks know this. Are you on the diversification train yet?

*ING to be 6th by end of 2024 - commentary that will be well received. A stark contrast to the majors negativity towards brokers.

*Macquarie the BIG 5 -> Boringly consistent - Consistently Good! Macquarie grew its home loan business five times faster than its major bank rivals in July, And they dont compete on price!