‘Ongoing learning is not optional in this industry’: MFPA graduates share their experiences

Since its launch nine months ago by the Mortgage and Finance Association of Australia (MFAA), the Mortgage Finance Professional Australia (MFPA) designation is delivering on its promise of raising industry standards and enhancing the knowledge and skills of Australia’s diverse broking workforce.

Developed by the MFAA in collaboration with RMIT Online, The MFPA is the first professional mortgage broker designation in Australia, offered exclusively to MFAA Accredited Brokers. It includes the Mortgage Finance Professional (MFP) Program, Australia’s first university-level mortgage broker qualification.

Education standards have long been a source of debate in the broking industry, with aggregators, experienced brokers and industry bodies seeking to raise the bar for new entrants.

Finsure recently called out “lazy compliance practices” of some new-to-industry brokers, with chief executive Simon Bednar (who praised the work being done by the MFAA) saying: “Barriers to entry are certainly higher than they were historically, however it is still possible for someone to attain the qualifications required to write a loan in a matter of days. That raises important questions about preparedness, experience and long-term professionalism."

MFAA executive, professional development and member engagement Dan Walsh (pictured, right) said mortgage brokers had long called for higher-level industry qualifications.

“It took several years of planning and research to develop Australia’s first mortgage broker designation, which represents the next evolution in broker education,” said Walsh. “This is part of the ongoing process to further professionalise our industry. The designation lifts standards of excellence in broking, while MFPAs are seen as leaders in the sector, helping build greater trust and confidence with clients.”

The feedback from graduates has been overwhelmingly positive.

“The MFPA further validates their skills and professionalism and provides practical development on leadership and business growth and much more. It provides enormous value to brokers and the industry,” said Walsh.

MPA caught up with a few of these graduates to hear about their experiences.

Gaining a new perspective

• Name: Marcus Liew (pictured, top right)

• Brokerage: Ally Finance Group

• Years in industry: 15

• Fields of expertise: Complex structures, professional high net worth, self-employed

Why did you decide to complete the MFPA designation? It was a good way to differentiate myself as a broker with experience and expertise and provide clients with more assurance of my knowledge in this space.

What did you gain from completing the MFPA designation and what are some of the lessons that you took home with you? A consolidation of my skillsets and knowledge but also a new perspective on how much the industry and profession has grown from when I first started in the industry. A huge lesson I took home would be that you need a strategy, intent, purpose and consistency in achieving good outcomes for your clients and your business.

Will these lessons help shape how you support your clients? Yes definitely, it's taught and reminded me how much more I can grow to become of better service as a broker and a trusted professional in someone’s financial decision and investment future.

How important is continual education and learning to being a mortgage broker? Crucial to keep maintaining the elite standards you want to set for yourself. The banking industry is fast paced and especially in the current lending environment, you need to be on top of the banking policies. It’s not enough to just know something from three months ago, it may have changed already. Keeping your finger tips on the pulse is very important.

Do you wish there was more of an emphasis on education and learning in the mortgage broking industry? I do and I hope there will be more programs or official accredited programs such as these delivered at a high standard so good brokers can become great and can continue to find channels to educate themselves more and more.

If you could suggest some changes to the MFPA designation curriculum, what would they be? Allow more specialist topics such as the SMSF one which was offered. For example, perhaps one on alt doc lending or commercial lending etc.

The virtues of strategic thinking

• Name: Shirish Ghimire (pictured, top left)

• Brokerage: Yolk Finance Pty Ltd

• Years in industry: 12

• Fields of expertise: Residential and SMSF loans

Why did you decide to complete the MFPA designation? With over 12 years in the industry, my decision to complete the MFPA was very intentional. At this stage of my career, it wasn’t about gaining a qualification, it was about refining my expertise, particularly in more complex lending areas such as SMSF and structured residential lending.

I wanted to strengthen my ability to analyse deals at a deeper level, think more strategically, and ultimately deliver better long-term outcomes for my clients. The MFPA stood out as a program that aligns with that level of professional growth.

What did you gain from completing the MFPA designation and what are some of the lessons that you took home with you? One of the biggest takeaways was a shift in how I approach lending from a transactional mindset to a more structured and analytical one.

The program reinforces understanding the ‘why’ behind lender decisions, which is particularly important in areas like SMSF lending where compliance, liquidity, and structure all play a key role.

A key lesson for me was focusing not just on getting an approval, but ensuring the loan structure is appropriate and sustainable based on the client’s overall position.

Will these lessons help shape how you support your clients? Absolutely. It has enhanced the way I assess scenarios and present options to clients. I’m now better equipped to identify potential challenges early, structure deals more effectively, and clearly outline different lending pathways, so clients can make informed decisions based on their own circumstances and professional advice from relevant parties.

How important is continual education and learning to being a mortgage broker? Continual education is critical in this industry. Lending policies, regulatory frameworks, and market conditions are constantly evolving, and brokers need to stay ahead of that change.

More importantly, as client scenarios become increasingly complex, particularly with self-employed borrowers, investors, and SMSF structures.

Ongoing learning is what allows a broker to remain relevant, confident, and capable of delivering high-quality advice.

Do you wish there was more of an emphasis on education and learning in the mortgage broking industry? Yes, I believe there is always room to further strengthen the emphasis on education. While the industry has made significant progress, there is a growing need to move beyond basic compliance and focus more on advanced skills.

As brokers, we are increasingly playing a strategic role in our clients’ financial decisions. That requires a deeper level of knowledge, particularly in areas like complex structuring, risk management, and specialised lending such as SMSF.

If you could suggest some changes to the MFPA designation curriculum, what would they be? The MFPA is already a strong and well-structured program. If I were to suggest enhancements, it would be to incorporate more real-world case studies, particularly around complex lending scenarios such as SMSF, self-employed clients, and multi-entity structures.

Additionally, deeper insights into lender credit assessment frameworks and evolving policy trends would further strengthen the practical application of the program. These additions would help bridge the gap between theory and day-to-day broking, allowing brokers to apply their knowledge even more effectively in real client situations.

Building trust with clients

Name: Spiro Kolokithas (pictured, top centre right, receiving award from MFAA chief executive Anja Pannek)

Brokerage: What If We Finance

Years in industry: 15+

Fields of expertise: First-home buyers, self employed and investors, SMSF and commercial 

Why did you decide to complete the MFPA designation? For me it was about continuing to improve. I am very big on continuous learning and have a genuine thirst for knowledge. That has always shaped how I approach my work, my career and my life. This industry moves quickly, and if you are not learning and growing, you are falling behind.

I can also see how much our industry is maturing. Broking is moving away from just writing loans to being recognised as a profession built on trust, knowledge and service. The MFPA reflects that shift and aligns with how I approach what I do every day.

What did you gain from completing the MFPA designation and what are some of the lessons that you took home with you? It reinforced that good broking is not about chasing the lowest rate. It is about understanding the client’s full position, where they are today and where they are heading, and then building the right strategy around that.

With AI and other tools now available, brokers are in a unique position. We can better understand the customer, their goals and their strategy, and then use our judgement and insight to deliver strong outcomes and a high level of service.

AI does not have judgement. It can support us, but it cannot replace experience or the ability to properly understand a client’s situation.

I also believe that over time the traditional branch channel will become less relevant. It tends to focus on product and rate, while brokers focus on understanding the client, building a strategy and supporting them over the long term. That balance between technology, knowledge and human insight is where the real value sits.

It also reinforced something I strongly believe in, that your people are your most important asset. At What If We Finance, we have built a strong team and that plays a big role in the outcomes we deliver for our clients.

Will these lessons help shape how you support your clients? They already have. It has strengthened my focus on getting the foundations right from the start. Taking the time to understand the full picture leads to better outcomes and a smoother process. It also reinforced that as a broker today, you are not just writing loans, you are leading.

That means understanding people, communicating clearly, guiding clients through important decisions and building long-term relationships based on trust.

How important is continual education and learning to being a mortgage broker? It is essential. Ongoing learning is not optional in this industry, it is part of the job. Policies change, lenders change their appetite, and no two deals are ever the same. If you are not continuously learning and growing, you are not delivering your best for your clients.

But it should not just be about rates and products. That is only one part of the role. The real value sits in the softer skills. Leadership, culture, understanding people and psychology. This is a people business first.

The brokers who stand out are the ones who understand people and build strong relationships. That is what leads to better decisions, better outcomes and long-term trust.

If the industry is to evolve, we need to keep lifting the standard. The future is not about volume or plugging numbers into a calculator. It is about judgement, experience and delivering real value through service, insight and relationships.

Do you wish there was more of an emphasis on education and learning in the mortgage broking industry? Yes, I do. The barriers to entry for mortgage broking are still too low, and we are seeing that more and more. Clients often come to us after dealing with brokers who focus purely on rate and do not understand the strategy behind the loan, which leads to poor outcomes and frustration.

If we want to be recognised as a true profession, the standard across the industry needs to lift, and that starts with education.

If you could suggest some changes to the MFPA designation curriculum, what would they be? The MFPA is a strong step forward, but I think it can go deeper. More focus on real-world scenarios and complex lending would be valuable, particularly where brokers need to structure deals properly.

There should also be more emphasis on leadership, communication and understanding people, because that is a critical part of being a broker today.

More broadly, I believe the industry should move towards a more formal education pathway, potentially even a degree-level qualification, with further specialisation available for more complex areas of lending.

Brokers now originate more than three quarters of all home loans. With that level of responsibility, there needs to be a stronger focus on education, professionalism and a genuine commitment to continuous learning and growth.

Brokers who take part in the MFPA must meet the following criteria:

• be MFAA members who have met their CPD requirements

• hold the Diploma of Finance and Mortgage Broking Management

• have a minimum of five years’ experience as a practising mortgage broker

• have settled a minimum of 250 loans

• have two professional endorsements (one from an aggregator) confirming their tenure and experience.