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By Tim Neary
November 23, 2010
MFAA CEO Phil Naylor has told delegates at the annual conference of the Canadian Association of Accredited Mortgage Professionals in Montreal how without some source of capital the non-bank sector will surely die, after the financial crisis had all but wiped it out in Australia.
As the global mortgage industry fronts-up to the exact nature of its current predicament in the wake of the ravaging GFC, the MFAA has shared the platform with the heads of leading international mortgage broking associations to chart a path forward.
In Quebec 1,500 delegates heard from the CEO's of the leading mortgage industry associations in Australia, Canada and the U.S, according to a report on the Brokernews site this morning.
During the hour-long discussion, topics covered included competition, compensation and regulations in each of the three mortgage markets.
"Our market needs funding similar to that provided by your Canada Mortgage and Housing Corporation (CMHC) to revive non-bank lending for brokers," Naylor said.
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Mortgage brokers essential, MFAA
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