Who are able to become your Mentor ?
Your mentor must certanly be an MFAA member (or agent of a member that is MFAA whom holds a Diploma of Mortgage Broking, whom :
is an MFAA member with at the very least four years’ experience as that loan author or equipment and business that is general author utilizing their very own mentor system; or
is an MFAA user who’s got written at the very least 50 effective loans or finance applications (when it comes to a mortgage that is residential journalist or an equipment and basic company finance journalist who’s got between two and four years’ experience) using their very own mentor system.
Someone who has been mentored included in their MFAA account is not an MFAA mentor.
Just Just Exactly How Mentoring Functions
The Mentee is required to interact a Mentor to aid them as a Finance Broker until they will have accomplished the very least of 2 yrs loan writing experience. The Mentor is needed to declare during the point associated with the Mentee’s very very very first and 2nd account renewal (or on attainment of 2 yrs’ experience, whichever does occur first) that the Mentee has withstood a mentoring program which ensures the Mentee has the capacity to run as being a ‘competent’ loan author.
The following must be met in order to be recognised as a ‘competent’ loan writer
the Mentor is pleased that the Mentee can satisfactorily conduct a customer interview unassisted, (including, where appropriate an initial Residence Buyer give) including conclusion of loan/finance application forms and undertaking stamp responsibility and LMI calculations;
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