The Mortgage and Finance Association of Australia has roped National Australia Bank in as its main sponsor for the next two years.
The major bank’s official duties as the broker association’s industry principal partner will kick off at the
MFAA National Convention next month on the Gold Coast.
It will also help fund national professional development initiatives and the Women in Mortgage Business Network, and in return get naming rights and subsequent publicity.
A spokesperson for the partnership declined to say how much
NAB would contibute over the next two years, saying it was "confidential".
But MFAA described it as a “landmark” partnership agreement.
“This is a significant show of support for the mortgage broking industry and we are delighted that NAB and its division NAB Broker are supporting us to further help build the important role credit advisers play in the lending sector,” CEO Phil Naylor said.
“NAB has recognised that all of our events are vital in lifting the knowledge and expertise of brokers, who now provide close to 50% of home loans in Australia.”
NAB Broker general manager Steve Kane said the bank is proud to support brokers in this “very fast growing” distribution channel.
“The broker channel and NAB Broker business remain vital to the future growth of NAB, and our partnership with MFAA reinforces this importance. We are excited to partner with the MFAA for the next two years to help support our brokers grow their business and realise their potential.”
The MFAA Board follows guidelines to nip any conflicts of interest in the bud when accepting sponsorship.
MFAA considers whether a partnership with a potential sponsor will lead to any conflict with the association’s policies, practices, and objectives and whether the agreement is likely to lead to criticism from any of its members, industry peers, media or public.
Corporate sponsors are not allowed to influence the goals, strategic direction, functions, impartiality or integrity of the MFAA.
In the 2012/13 financial year, funds from sponsorship made up 14% of MFAA’s total revenue.
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