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MFAA Prosper : Mortgage and Finance Brief 10
Competition still on the agenda Strong reviews for National Convention The 2011 MFAA National Convention, held in Brisbane in June, has been given an overwhelming thumbs-up from delegates. Ninety-one per cent of respondents in the official MFAA delegate survey rated their experiences of the Convention as either very good or excellent, and 98% said they would recommend it to others. Focusing on the theme 'Tomorrow's Broker', the plenary sessions encouraged delegates to think about how their businesses would adapt to future challenges. Seventy-nine per cent of respondents felt that the standard of the plenary speakers met their expectations, and 77% attended most or all of the sessions. In addition, 87% felt they had found one idea or networking benefit that had covered the cost of attending. These thought-provoking seminars were complemented by world-class entertainment and social functions after hours. Ninety-six per cent of delegates rated both the Gala Dinner and the Comedy Finale lunch as either excellent or very good, and the welcome reception was also well received. MFAA CEO Phil Naylor said all of the feedback he received from members throughout the Convention was very positive. "The sessions were well attended, and there was a really positive vibe throughout," he said. "The International Panel session was particularly enjoyable, because it showed brokers that there's another world out there, and different pressures affecting brokers in other countries." • Turn to page 45 for a three-page look at some of this year's convention highlights. "The international panel was fantastic and everybody around me was commenting about it. It really broadened our horizons," Barry Elmslie, About Homeloans.com.au "Brett King was really interesting. We've got to look out how our businesses work in a different light and take some of the things out there on board. We can't sit back," Karen Le Comte, Finance Matters "It was the first time I'd been to the convention. I was able to ask a lender some questions about a particular scenario and get some answers -- so it was great," Wan O'Farrell, JWT Financial Services Despite the Federal Government's ban on mortgage exit fees being upheld in the Senate, MFAA CEO Phil Naylor says the association is already planning new ways to improve lending competition. 2 FULL-PAGE COLOUR ADVERTISEMENTS IN THE AUSTRALIAN FINANCIAL REVIEW AND THE AUSTRALIAN 10 PRESS RELEASES AND LETTERS TO POLITICIANS 80 STORIES IN NEWSPAPERS NATIONALLY 15 MENTIONS ON RADIO NATIONALLY 14 MENTIONS ON TV NATIONALLY 38 BLOG POSTS 3 YOUTUBE VIDEOS 500 TWEETS TO 579 TWITTER FOLLOWERS THE EXIT FEE CAMPAIGN BY THE NUMBERS WHAT THEY SAID ... Naylor said the MFAA would now re-ignite the campaign for a Canadian-style mortgage bonds system. "The Government has been cool on this idea in the past, but we still think these measures are worth pursuing," he says. "In the coming months, we will be meeting with the Greens and whoever else is interested to discuss all of the options to assist funding and enhance competition and choice. "We think there is still a lot to be optimistic about in improving competition in the lending sector." As of 1 July 2011, membership fees went up by 1.5% for new members. From 1 August 2011, membership fees for renewing members have gone up by the same amount, taking the base membership fee from $405 to $411 per year. Changes to MFAA membership fees MFAA news Mortgage & Finance brief | 13
Mortgage and Finance Brief 09
Mortgage and Finance Brief 11