Many of you already within the industry will be aware of NAB & Homside's plan to offer a tiered commission structure to brokers. Within this star rating system Brokers who have obtained Certificate IV qualifications will receive an additional .05% Upfront commission from the 1st of November 2008.

The huge industry demand for accredited brokers has meant that over the last few months the courses have been completely booked out and even with additional courses scheduled we have not been able to accommodate everyone. Fortunately we still have positions available in this months upcoming Certificate IV course to be held on the 25th of August at our North Sydney Training Centre.

With rate cuts tipped for the latter half of the year we recommend that anyone interested in gaining accreditation for themselves or their staff undertake one of our programs as soon as possible while they have the time available for education. To obtain more information on the training that we provide or on how to apply for one of our upcoming courses please contact us by email or on 1300 136 947.

Market recovery predicted by last quarter of 2008
Despite the prevailing tough economic conditions, the downturn in the housing market might be coming to an end, according to Archicentre, the national building advisory service of the Australian Institute of Architects (AIA).  

The bottom line on commission changes
The wave of new commission models has left brokers and aggregators contemplating life under quality metrics, star ratings, cross-sell bonuses and new clawback schemes  

Australian Banks Have `No Excuse' on Rates, Swan Says
Australian banks have no excuse to hold borrowing costs steady should the nation's central bank cut official interest rates this year, Treasurer Wayne Swan said. 

Commonwealth Won't Comment on Reported $6 Billion BankWest Bid
Commonwealth Bank of Australia, the nation's biggest mortgage lender, declined to comment on reports it may make a $6 billion takeover offer for HBOS Plc's Australian unit BankWest.  

The Future of Franchises
Franchising is oft-touted as the safe bet for brokers looking to grow their business, but developments in the franchise industry have cast a pall on this particular model

The older and wiser are now also wealthier
The richest 10 per cent of Australian households are now older, better-educated and more likely to be white-collar, a new study shows

The MFAA CPD program requires AMCs, AFCs & CMCs with two or more years experience to earn 25 Continuing Professional Development (CPD) points per year. AMCs and AFCs with less than two years experience are required to earn 30 CPD points per year and participate in Mentoring.

CPD Qualifying Activity 10 awards a maximum of 5 points annually for the 'Reading of Technical Papers and Industry Publications'. CPD points are granted at a rate of 1.5 point for every 4 hours of involvement. In addition to providing links to a selection of Industry Publications each month, Walker & Miller will provide conformation of your subscription to the eNewsletter, enabling you to document your progress, at the beginning of each financial year.

More Information on the MFAA CPD program

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