NZ News:We also go out and about at the 11th annual New Zealand Mortgage Brokers Association Conference. One hot topic at this year's conference was how brokers need to protect themselves and their businesses from legal claims and unhappy clients, especially in the current financial climate. Speakers also tackled the greatly-debated topic of diversification into risk and insurance. The consensus was that debt protection can be entered into, and sold ethically and safely by mortgage brokers.
We pay tribute to outgoing NZMBA chairman Geoff Bawden, who has served the industry for many years. He leaves the association believing it is in very good hands for the future. The newly appointed chairman, Darren Pratley, also farewells Geoff and addresses readers for the first time about his plans, in the Chairman's letter.
Congratulations to Finlay Abbot of Wellington, who was named New Zealand Mortgage Broker of the Year for 2008. First runner-up was Craig Seton, from the Central North Island, and second runner-up was Mark Papps from Nelson/Marlborough. We also announce the 2008-10 NZMBA board members.
Megan Salt talks to us about an exciting new opportunity for brokers to expand their skill set, through a new online training programme.
In our My Business section, we talk to Sally Thomson, a broker with Kiwi Mortgage Market in Dunedin. As a mother of two pre-school children and running her own mortgage broking business, her life is a juggling act.
Other features in this issue:
NZ News:
Regulation unevenly spread
The proposed changes to regulation could gives banks an unfair advantage in the lending industry.
GE fine-tuning lending
GE Money is changing with the market and finding more streamlined ways of keeping business flowing.
CPD points a must
Brokers are being urged to continue obtaining official recognition for training through the NZMBA's compulsory professional development (CPD) points. To find out more about them, click here.
Controversy over mortgage brokers selling KiwiSaver
Controversy has erupted over moves to encourage brokers to sell KiwiSaver. NZF (formerly New Zealand Finance) is at the forefront of moves to promote the Government-backed retirement savings plan to brokers.
Housing market round-up – Bottoms up: The housing market seems to be reaching the bottom of the basement with signs of stability starting to appear, although it's not all good news for borrowers.
International news: News bits from Australia, United Kingdom and United States to help keep you up-to-date
Interest rates update – One down, more to come: The Reserve Bank cut the official cash rate at the end of last month, with more on the cards.
Sales and marketing – Separating clients from the pile: Your single most valuable asset is your client base, both as an opportunity for more sales now and in the future. We explore the best method for approaching clients for future business.
Legal –Lenders don't have to be losers: We address the issue of early mortgage repayments and if lenders should be compensated for the loss of income that results from breaches of contract.
Coach – It is what it is: It is impossible to change the market: it is what it is. But, what does need changing is how brokers respond and how important it is to expand products on offer – go the extra mile – and change people's perceptions of the industry.
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