How to become a Mortgage Broker

Mortgage Broker Qualifications, Accreditation and Licensing

You have decided that you would like to become a mortgage broker. We have the information here to get you started as quickly and easily as possible. We will cover how to become a Mortgage Broker, provide you with information how to start your career as a Mortgage Broker, clearly outline Mortgage Broker training requirements, Certificate IV (Finance/Mortgage Broking) course availability and learning options as well as other industry requirements. 

Mortgage Broker Training and Courses

Mortgage Broker Training and Qualifications have evolved in order to protect consumers while that obtain mortgages. Those seeking to become a Mortgage Broker will need to satisfy certain educational requirements in order to join the Industry. In Australia the educational requirement to become a Mortgage Broker is the Certificate IV (Finance/Mortgage Broking), course code FNS40804. The Mortgage Broker training course provides an overview of the industry, allowing potential Mortgage Brokers to understand their role within the Residential Property transfer process. The Mortgage Broker training course is most commonly completed in a Face-to-Face setting over and intensive 5 day period, but can also be completed by Home Study Manual as well as e-Learning Computer Kit. Please refer to the Training section of this website for more detailed information on what is covered in the Mortgage Broker Training course.

Mortgage Broker Licensing 

Due to licensing regulations in WA, candidates wishing to become a Mortgage Broker in Western Australia as well as those wishing to offer their services to West Australian clients will be required to undertake additional Mortgage Broker Training in the form of a WA Supplement. This course is a supplement to the Certificate IV (Finance/Mortgage Broking) and covers legislation as well licensing with DOCEP.

Mortgage Broker Accreditation

In order to become a Mortgage Broker you will also need to join a professional association. Currently the Mortgage Broking industry is self-regulated so in order to work as a Mortgage Broker you will either need to join the MFAA (Mortgage and Finance Association of Australia) or the FBAA (Finance Brokers Association of Australia). Most of the major lenders require that the Brokers become a member of a professional body in order to sell their products. For more information on how to join a professional body please see our pages on "MFAA Requirements " and "FBAA Requirements".