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Mortgage News

Industry “must refocus on positive”, says MAB

Mortgage Solutions
Written By:
Posted:
December 2, 2010
Updated:
December 2, 2010

The mortgage industry must stop wasting its time on negative predictions about the future of the market and focus on the practical measures it can take now in order to thrive, it has been claimed.

Peter Brodnicki, chief executive of the Mortgage Advice Bureau (MAB), said the obsession over the effects of the FSA’s Mortgage Market Review and economists’ forecasts was a waste of time when brokers could be focusing on developing their business.

He pointed out that, despite the state of the market, MAB had achieved its target of 25% turnover growth for 2010 by the middle of November through concentrating on expansion and working with its distribution to increase turnover.

Brodnicki said: “It’s time for an end to the constant pounding on about regulation.

“Mortgage volumes are right down, but it doesn’t matter what the predictions are. It’s about seeking out opportunity, working with clients and coming up with solutions.”

Brodnicki highlighted that the recent MAB conference at Pride Park Stadium in Derby had banned any bad or negative news from the day, along with predictions for next year. This resulted in a day focused on opportunities, sales ideas, technology and training solutions, and innovations around the customer experience.

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Attended by almost 500 MAB brokers and network members, 20 new initiatives were launched on the day that had been tested by MAB brokers to make sure they worked for the network.

In addition, MAB compared what its top 10% of brokers were achieving against the bottom 10% and average to highlight the opportunities brokers should look at.

Brodnicki said: “We have got tremendous feedback on the day. It was good to see not only such positive content, but also delegates who were upbeat and felt like they were like one big team, something I have not seen since the direct sales days.

“People want solutions and help with how to do things. They take a long time out for the day, so what they get out of it should make up for that time 100 fold.”