Hi Rob
Welcome to the forum.
The industry per say from the lender onward has a tight level of regulation, thats a fact.
The reality at broker level is too often otherwise.
A 2 day course, some PI Insurance and hey presto Im an Accredited Mortgage Consultant broker too, with no requirement for any handholding, or indeed real world exposure. Meanwhile, I could have written 10 deals that have just cost 10 borrowers tens of thousands of dollars and future opportunity because I had no idea of sequencing, lmi exposures, entity limits, or the potential tax treatments of LOCs, vs offset accts
I do agree with you Rob, that on disclosure issues, the brokerage industry is very tightly regulated, and about to become even more so in NSW, but on newish entry, we are far to loose.
ta
rolf