Many brokers risk being cut off if they have not completed their mortgage broking diploma.
Recent legislative changes mean brokers who want to obtain the diploma will be required to complete the new Diploma of Finance and Mortgage Broking Management course, (FNS50320) if they have not completed the previous diploma (FNS50315) by the end of 2021 .
For most training providers, the cut-off date to enrol in the old diploma is before the end of August. This is so students can complete by the end of the year when the “teach out” period finishes.
Many aggregators and the MFAA require brokers to have completed their diploma within 12 months of starting their careers – or risk having their accreditation removed.
If you are unsure if your diploma meets legal requirements or if you fear you cannot complete your diploma in time, Accredited Broker recommends you contact your training provider.