Licences and Memberships:
Brokers Mutual Acceptance Pty Ltd (BMA) holds an Australian Credit Licence, and is a member of several professional and industry organisations that provide consumer protection and industry guidelines and standards.
Australian Credit Licence number: 388249
Finance Brokers Association of Australia (FBAA) Accredited Member number: 2748
Mortgage & Finance Association of Australia (MFAA) Accredited Member number: 56566
Financial Ombudsman Service Limited (FOS) Accredited Member number: 14714
Australian Credit Licence number: 388249.
Brokers Mutual Acceptance Pty Ltd (BMA) holds an Australian Credit Licence, granted by the Australian Security & Investments Commission (ASIC).
For a company to be granted an Australian Credit Licence the company must comply with a strict set of regulations designed to promote ethical business practices and consumer protection, including:
- abide by responsible lending guidelines,
- obey advertising and disclosure requirements,
- responsible people/company officers having appropriate tertiary qualifications,
- be a member of an approved External Dispute Resolution scheme,
- maintain adequate & current Professional Indemnity Insurance, and,
- meet probity and credit-worthiness requirements.
The Australian Credit Licensing scheme is designed to ensure protection for consumers when dealing with finance brokers and credit providers.
For more information please visit the ASIC website at http://www.asic.gov.au/
FBAA Member Number: 2748
Brokers Mutual Acceptance Pty Ltd (BMA) is an Accredited Member of the FBAA.
The Finance Brokers Association of Australia (FBAA) is a national association representing finance and mortgage loan writers throughout Australia. The FBAA is Australia’s leading membership body for finance broking professionals, providing standards and guidelines to promote professional practice standards in sourcing domestic and commercial funding in the finance/mortgage broking industry.
Membership of the FBAA requires the applicant to meet strict criteria, including:
- abide by the FBAA’s Code of Conduct,
- utilise an approved External Dispute Resolution Service,
- provide compliance training to staff & responsible people,
- hold adequate & current Professional Indemnity Insurance, and,
- ensure that educational and/or experience criteria are met.
These requirements help to ensure members are professional organisations, and provide peace of mind for customers.
For more information please visit the FBAA website at http://www.fbaa.com.au
MFAA Member Number: 56566
Brokers Mutual Acceptance Pty Ltd (BMA) is an Accredited Member of the MFAA.
The Mortgage & Finance Association of Australia (MFAA) is the peak national body providing service and representation to over 10,000 professional credit advisers (mortgage and finance brokers, mortgage managers and aggregators) to assist them to develop, foster, and promote the mortgage and finance industry in Australia.
Membership of the MFAA requires the applicant to meet strict criteria, including:
- abide by the MFAA Code of Practice,
- comply with all laws,
- maintain training standards,
- hold professional indemnity insurance,
- arrange appropriate finance for customers,
- act promptly and properly in relation to finance applications,
- disclose commissions and other benefits (brokers only),
- maintain IDR and EDR schemes &
- consider hardship application
For more information please visit the MFAA website at http://www.mfaa.com.au
FOS Member Number: 14714
Brokers Mutual Acceptance Pty Ltd (BMA) is a member of the Financial Ombudsman Service (FOS).
FOS is an independent External Dispute Resolution Service available to clients of FOS members.
The Financial Ombudsman Service fairly and independently resolves disputes between consumers — including some small businesses — and member financial services providers. The availability of an External Dispute Resolution Service provides peace of mind for consumers, as it provides free dispute resolution that occurs with a FOS member.
For more information please visit the FOS website at http://www.fos.org.au/