FREQUENTLY ASKED QUESTIONS
What are the requirements to become a mortgage broker?
- Complete Certificate IV in Finance and Mortgage Broking FNS40815
- Join an Aggregator or group to work through
- Be authorised as a Credit Representative under a Credit Licence
- Join an industry Association – FBAA or MFAA
- Join External Disputes Resolution Scheme – EDRS AFCA – Australian Financial Complaints Authority
To become a mortgage broker you need to have access to lenders to provide loan products. Lenders will require you to have completed the Certificate IV in Finance and Mortgage Broking, be working with a group that has an agreement with them and hold an Australian Credit Licence (ACL) or be a credit representative.
You would be required to have a membership with an industry association. (FBAA – Finance Brokers Association or MFAA – Mortgage & Finance Association) and provide a Police check and Credit check on yourself.
Is the course nationally recognized?
Yes, the Certificate IV in Finance and Mortgage Broking – FNS40815 has been mapped against the Australian Quality Training Framework and is delivered by experienced mortgage brokers under arrangement with the National Finance Institute.
How do I get further information?
Please call our trainers on 1300 136 947, or Click Here to Enquire Now
We look forward to hearing from you and registering your place in the next course.
How do I book my place in the next course?
To book your place in the course:
Enrol Online by clicking here.
Ring us on 1300 136 947 or 02 99225198
Click Here to Enquire Now and we’ll email you a registration form you can return by emailing firstname.lastname@example.org
What career opportunities will it provide on completion?
You may seek employment (including self-employment, contract work or as a franchise) in finance broking or mortgage broking. It may also lead to employment in mortgage lending within a bank, building society, credit union or mortgage manager.
How do I become an Accredited Mortgage Broker?
This nationally recognized, comprehensive 3-day course is recognized by the Mortgage & Finance Association of Australia (MFAA) as suitable for the professional development of mortgage originators. Successful completion of this course along with successful completion of the MFAA Initial Compliance Pack module will fulfil the education requirements for Accredited Mortgage Consultant status.
Why this Course?
The FSN40815 Certificate IV in Finance and Mortgage Broking course maintains a perfect balance between theory and industry-based case studies to deliver results that can be immediately applied in the competitive marketplace. The course is delivered by qualified trainers who are active in the industry and have years of mortgage broking experience.
Who has this course been developed for?
1. People currently working for, or as, a mortgage broker or similar who are looking to formalize their skills and knowledge; or
2. People working for a mortgage manager, bank, credit union, building society or similar and are seeking employment (including self-employment) as a mortgage broker; or
3. People outside the industry who are considering entering the Mortgage Broking Industry
How long will this course take to complete?
The the Certificate IV face-to-face workshop is delivered in 3 days. You may choose to do your assignments either during these 3 days or after completing the course. You have 6 months to complete the course as distance education mode.
Do you offer courses by distance education mode and electronically?
Yes, all courses are offered by both distance education and online. Click here for a FNS40815 information or click here for a FNS50315. Further courses will be offered by distance education mode in the future.
What happens if I enrol in a course, but then can’t attend?
Please refer to our Terms and Conditions section.
Do you offer training for larger corporate groups?
Yes, we offer tailored solutions to corporate clients. Walker & Miller can blend a course and contents to develop a training solution suited to individual or group needs. Click here for more details.
Are there exams?
No, there are no exam requirements with our courses. Instead we have online questions, exercises and loan scenario case study assignments and projects. There is no requirement to attend a specific scheduled assessment day, you complete assessments in your own time at your own location.
Will doing work experience help me to get a job?
Yes, in most cases undertaking work experience demonstrates initiative and enthusiasm to potential employers, therefore increasing your likelihood of gaining employment.
Do you provide specific course information on this website?
Yes, you will find Course Fact Sheets in the Courses section of this website.
How do I find out about available jobs in the Mortgage Industry?
Advertised jobs are only the tip of the ‘employment iceberg’. To locate available jobs you should try to start networking within the Mortgage Industry. Attend industry functions, conferences and awards nights – get known! Perhaps start locating jobs in industry magazines, employment websites and employment agencies that specialise in the Mortgage Industry.
Can I speak to someone about Walker & Miller’s courses?
Yes, certainly – please call Walker & Miller on 1300 136 947 – we’d be delighted to hear from you.
When do course enrolments close?
You can find a schedule of proposed course dates by clicking here. We ask that you submit your Course Enrolment Form to us by fax or mail or scan/email as far in advance as possible of your chosen course date. While a $295 deposit is required, full payment does not need to made until the first day of the workshop. Distance education and electronic courses can commence at any time you desire.
How can I send in my enrolment form?
Course Enrolment Forms can be sent via fax or mail, or you may scan and email to Walker & Miller. Pricing details are provided at the bottom of the enrolment form.
How will I be advised of my results?
You will receive your results via post within three weeks of you successfully submitting all your assessments.
What if I don’t pass my assignments?
Walker & Miller’s trainers are available for assistance by phone or email to help you if you encounter difficulty in completing your assignments. If you do not reach the 85% pass mark on your first attempt, you can re-submit your assignments at no extra cost. We want to help you achieve success whenever possible.
When do I get my Certificate?
You will receive your Certificate once your assessments have been submitted and you have achieved 85% or higher. We will forward this to you by post, within 2 weeks of your submitting all your assessments. We can also fax or email a copy to you, ahead of mailing it, if required for industry association (eg. MFAA) membership purposes.
What is RPL and who can apply?
For full details on RPL, please click here.
I have done a Certificate IV in Mortgage Lending, how do I upgrade to a Diploma of Financial Services (Finance/Mortgage Broking Management)?
Walker & Miller now offer nationally recognised FNS50315 Diploma of Financial Services (Finance/Mortgage Broking Management) course for those students that wish to upgrade their Cert IV. The Diploma of Financial Services (Finance/Mortgage Broking Management) qualification is ideal for finance and mortgage brokers wanting further understanding of commercial financing and for Certificate IV Financial Services (Finance/Mortgage Broking) graduates seeking further qualification.
I have no experience in mortgage broking – which course should I do?
The minimum qualification for those seeking to enter the mortgage/lending industry is the FNS40815 Certificate IV in Financial Services (Finance/Mortgage Broking) course. This should be the first course that you complete ahead of seeking employment or undertaking self-employment in this industry. If you are seeking the higher qualification of a Diploma you will still need to successfully complete the Cert IV course. It is recommended that trainees attain some work experience before upgrading to the Diploma course, but it is not essential.
Is the Mortgage Consultant Qualifying Certificate the same as a Certificate IV?
The MCQC course is the name previously used for the FNS40815 Certificate IV in Financial Services (Finance/Mortgage Broking). The FNS40815 course is nationally recognised under the Registered Training Organisation (RTO) national provider number 31203. Successful completion of this course along with successful completion of the MFAA’s Initial Compliance Pack (referred to as 201A), will fulfil the education requirements for Accredited Mortgage Consultant status with the MFAA. Walker and Miller is also a Full Member of the MFAA.
Will you help me get accreditation with the banks and other lenders after I have completed my course?
Walker & Miller may provide the relevant contact details for students to arrange lender accreditations. Many mortgage broking groups (for example, aggregators and franchisors) arrange lender accreditations for their brokers. The provision of accreditation with lending institutions is at their discretion.