Compliance

Professional Partners consultants are all full members of the Mortgage & Finance Association of Australia (MFAA). All of our staff, are compliant with MFAA requirements and standards and all consultants are MFAA Accredited Mortgage Consultants. In addition to this, all employees attend continuing education lectures provided by the banks/lenders and internal training by Professional Partners.
In order to become a member of the MFAA, all staff of Professional Partners have met the following requirements:

• Passed Certificate IV in Financial Services (Finance/Mortgage Broking)
• Passed an examination on the Consumer Credit Code
• Passed an examination on the Privacy Act
• Passed an examination on the Trade Practices Act
• Passed an AML/CTF Accreditation

In order to be aligned with our various lenders Professional Partners requirements are such that:

• Professional Partners must satisfy accreditation criteria
• All MFAA requirements and standards must have been achieved
• Initial training by each bank/lender relating to lender credit policy, product features, pricing, representation and marketing material available
• Ongoing training by banks/lenders as to changes in credit policy and product offerings

In addition to the above staff requirements, Professional Partners as a company has the following in place:

• Holds a significant Professional Indemnity Insurance Policy
• Is a member of an industry dispute resolution body namely: The Credit Ombudsman Service Limited, an external dispute resolution service approved by the Australian Securities and Investments Commission (ASIC)
• Is a Full Member of Connective OSN an organisation with total mortgages under management in excess of $15,000,000,000 ($15bn) in Australia.