Broker in Focus: Tracie Palmer, Cornerstone Home Loans

Broker in Focus is a dedicated series that highlights the unique journeys of mortgage brokers, providing them with a platform to share their experiences, insights, and expertise. Through compelling personal stories and professional reflections, each featured broker recounts the key moments that have shaped their careers, delves into the challenges and opportunities facing the industry today, and shares the valuable wisdom they have gained along the way.

MPA caught up with Tracie Palmer (pictured), director of Cornerstone Home Loans, who has spent nearly four decades shaping the finance industry and more than 20 years guiding clients toward home ownership. With a reputation built on trust, personalised service, and a deep understanding of the lending landscape, Palmer has not only grown her own business but also recently expanded by welcoming another broking team into the Cornerstone family.

As she reflects on the evolution of mortgage broking, the challenges of regulatory change, and the importance of mentorship, Palmer shares her insights on what it takes to thrive in a constantly shifting industry – and why genuine passion and adaptability remain at the heart of her success.

Full name: Tracie Palmer
Job title: Director / Senior finance specialist
Company: Cornerstone Home Loans
Number of years in the industry: 38 years
Location: Brisbane

How and when did you become a mortgage broker?

I have worked in the finance industry for 38 years. I became a mortgage broker 23 years ago after recognising the opportunity to support individuals and families in achieving their home ownership goals. Over the years, I’ve built a business grounded in trust, personalised service, and a deep understanding of the lending landscape.

More recently, I acquired another broking business and welcomed their clients and broker into the Cornerstone Home Loans family – an exciting step forward in our growth and commitment to service. Our company comprises 14 brokers and administrators, based in both Australia and the Philippines.

In your opinion, what has been the most positive development in broking?

The increasing professionalism and recognition of mortgage broking as a trusted financial service has been incredibly positive. Clients now have greater confidence in brokers, and the focus on best interest duty has helped cement the broker’s role as a genuine advocate for the borrower.

Technology has also improved how we serve our clients, making the loan process more efficient and accessible, especially for my brokers who work remotely and still deliver exceptional service.

What challenges do you see currently facing the industry, and what solutions would you propose?

One major challenge is navigating the constant regulatory changes and the tightening of credit policy, which can add complexity and confusion for clients. Another is the recent trend of banks winding down white-label lending products, such as GoEdge through NAB.

The solution lies in staying proactive – keeping clients well-informed, conducting regular reviews, and continuing to advocate for choice and transparency. As brokers, we must adapt quickly and maintain strong relationships with a diverse range of lenders to continue offering our clients the best options.

Can you share a memorable or challenging experience from your career as a broker and the lessons you gained from it?

One standout challenge was managing the recent transition of clients from GoEdge Home Loans after NAB announced the closure of the white-label brand. It was crucial to reassure clients, keep them informed, and provide solutions that aligned with their long-term financial objectives. Part of the challenge was personally writing to over 90 families who had GoEdge Home Loans and providing this support and reassurance. The experience reinforced the importance of effective communication, trust, and being proactive for our clients, especially during periods of change.

Could you share any valuable advice for individuals aspiring to become brokers or those new to broking?

Start with a genuine passion for helping people. Broking is about relationships as much as it is about numbers. Always strive to deliver timely, quality service and commit to continuous learning. Continue to build on your skill level – attend training and personal development days, even when you have been in the industry for a long time. Lending policy changes frequently, and staying up to date makes a huge difference.

Surround yourself with a strong support network. Whether you’re working remotely or in an office, being part of a team like Cornerstone – where experience, mentorship, and professionalism are prioritised – can shape your success and job satisfaction. Consider outsourcing administrative duties as soon as possible. The sooner you remove admin from your role, the sooner you can work on building your network and achieving more sales.

Having been a mortgage broker mentor for more than 12 years has helped me realise that new-to-the-industry brokers need a mentor who genuinely cares about them. New brokers should thoroughly research all available mentoring options to ensure they find the right fit for their individual needs. You get what you pay for – a dedicated mentor will give you their time, knowledge, and experience. Money can’t buy that!

Embrace change. Technology is moving at a rapid pace, and numerous systems are available to brokers that can save you time and money. Any system that reduces your time on an application is worth its weight in gold.

Take the time to establish effective processes in your business. Talk with other brokers to learn their time-saving systems. Follow the process and don’t take shortcuts. If you do that, nothing will be missed, and you will save time by avoiding the need to rework your loans.

Broker in Focus is a weekly MPA feature spotlighting mortgage brokers from diverse firms and locations across Australia. Among those recently featured are Harry Green of Low Rate Home Loans, Marisa Schönwolf of CHL Home Loans Leederville, Aimee Bergan of APC Home Loans, Alya Manji of Aussie Home Loans, Leon Ng of Zenith Home Loans, Martin Walmsley of NBS Home Loans, Cameron Conroy Atlas of Victorian Commercial & Home Loan Group, Randy Araya-Bishop of Sufficient Funds Home Loans, Rachel Slekenics of Low Rate Home Loans, and William Chen of Pacific Mortgage Centre.

Are you a mortgage broker interested in being featured? Email the author with your details.