Commercial and mortgage broking associations team up

The “strategic partnership” between Commercial & Asset Finance Brokers Association of Australia (CAFBA) and the Mortgage & Finance Association of Australia (MFAA) was announced recently with the hopes of benefiting thousands of members across the country.

According to a statement from the organisations, each have signed a memorandum of understanding (MOU) which provides a formal framework for cooperation. There are hopes that this will promote “innovation, and jointly nurturing and promoting a finance broking profession that adheres to the highest standards”.

CAFBA is the only industry association focusing solely on professional commercial finance brokers in Australia, representing over 1,000 firms and brokers nationwide. The MFAA is the peak association for the mortgage and finance broking industry representing over 15,000 members throughout Australia.

CAFBA CEO David Bushby outlined the mutual benefit that is to come from this team-up: “CAFBA and the MFAA have repeatedly found there is real benefit to all our members by working together, sharing resources, and aligning our advocacy efforts.

“The benefits for our members and the wider industry of a strong relationship between the two associations will only become more important as the broking industry further grows and evolves. I am delighted that this relationship is being formalised by the signing of this MOU and look forward to CAFBA and the MFAA continuing to deliver even more for our members and the industry.”

MFAA CEO Anja Pannek agreed with Bushby, describing the move as a means for a “united front”.

“We have enjoyed a close relationship with CAFBA over many years, and we’re excited to see this relationship formalised. We believe this MOU will strengthen both our associations and pave the way for a united front on key industry issues,” Pannek said.

"By working together, we can enhance our efforts on behalf of our members and leverage resources to innovate and deliver superior resources.”

With more news to come out of this, the joint statement claimed there will be research and professional development opportunities to come from this MOU.

This news comes right off the back of CAFBA announcing a partnership with Agile Market Intelligence.

Announced on 6 August, the latest Broker Pulse: Commercial Lending program will create engaging content that showcases the expertise of commercial brokers, reinforcing their role as key players in the financial landscape.

The monthly voice of broker program interviews hundreds of mortgage and finance brokers, alongside commercial brokers, to collate their expertise and experiences to create a community-driven knowledge base for brokers, lenders, media, and regulators.

Partnering with CAFBA and technology and data provider Lend, the new initiative will seek to build a reliable and consistent platform of insights for brokers to benchmark their commercial activity and for lenders to compare their proposition to the third-party channel.

[Related: Creating a voice for commercial brokers]

Jack Campbell is the editor of Broker Daily. After graduating from the University of Wollongong in 2022, Jack began his journalistic career working on Broker Daily’s sister brand, HR Leader. In August 2023 he was made the news editor and worked alongside some talented journalists writing articles and recording podcasts.

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