Mortgage brokers may need annual accreditation

NZMBA chairman Brian Berry says the committee working on the project, which includes lender representatives, is looking at having not only up front accreditation when brokers first join the organisation, but also at ongoing annual accreditation procedures.

It is also looking at how "accreditation by exception" or the process of expelling or excluding brokers who blot their copybooks should be handled.

Accreditation "is the major issue for everyone because quality and broker performance are the key issues in the market place," Berry says.

Once this issue is sorted out to the satisfaction of both brokers and the lenders, establishing the new organisation should fall into place.

Read More - Opens in a new window