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Chief of CBA’s Aussie slams ‘crazy’ broker pay plan – The head of the country’s biggest retail mortgage broker, Aussie Home Loans chief James Symond, warns a "crazy" plan to scrap commissions will force a wave of brokers out of the industry, limit access.
A mortgage broker acts as an intermediary who brokers mortgage loans on behalf of individuals or businesses. Traditionally, banks and other lending institutions have sold their own products. As markets for mortgages have become more competitive, however.
Morrison backs brokers despite warning from banking royal commission – Scott Morrison has backed the mortgage broking industry in the face of demands from the banking royal commission for major changes to how brokers are paid, saying he does not want the sector to.
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