How do I become a Mortgage Broker? The Mortgage Consultant Qualifying Certificate "Cert IV" meets the ASIC RG206 education requirements. This Release 2 version (latest release), is the minimum qualification required to become a mortgage broker offering ASIC-regulated credit assistance.

Students wishing to enrol in the latest Release 2 of the FNS40821 Certificate IV course can do so from this page.  

The FNS40821 (Release 2) Certificate IV  in Finance and Mortgage Broking course remains a comprehensive, nationally recognised course, approved by the Mortgage & Finance Association of Australia (MFAA) as suitable for the professional development of mortgage originators. It meets ASIC's educational requirements for those in or wanting to join the finance industry offering loan solutions to consumers.  Successful completion of this course along with successful completion of the MFAA's Compliance Essentials course will fulfil the education requirements for a Finance Broker membership with the MFAA and FBAA.

Options and Pricing: 

  • A 3-day live Zoom virtual workshop -  (optional) in small groups to allow for individualised attention, $1295. Click here to see our scheduled workshop DATES. 3 days is followed by your own revision and completion of assessment tasks online.
  • Distance learning - correspondence study with hard copy of course material express mailed; includes full online access, $895
  • Online learning - full online course access via NFI's online course platform, $695
  • RPL - Recognition of Prior Learning, ie. experience of 2+ years in residential lending, $695 (application form below)
  • Package Option - Cert IV course plus Diploma upgrade course as a package, (see fact sheet here), online option $1240

You will have a maximum of 6 months to complete the Cert IV course if studying, but the course is self-paced so your pathway to faster completion may be achievable if you have existing competencies.  This Certificate IV course provides a balance between theory, industry-based case studies and practical skills to deliver results that can be immediately applied in a competitive marketplace. We believe this is what makes our course different from the rest - it's more than academic, it provides the practical tools for success in the mortgage industry.

 

Suitability - the course has been developed for:

  1. People who believe they would enjoy working in the mortgage broking industry and are looking to gain not only the formal qualification but the guidance, skills and tools necessary for their current or future employment; or
  2. People currently working for, or as support to, a mortgage or finance broker who are looking to formalise their skills and knowledge; or
  3. People working for a mortgage manager, bank, credit union, building society or similar and are aiming to seek employment (including self-employment) as a mortgage broker; or
  4. People outside the industry who are considering entering the mortgage broking or lending industry

Click here for the MFAA's education requirements for membership.

The suitability of this course should include self-determination of sufficient English language, numerical and digital literacy, as are necessary for a role in finance.

Course Outline

This comprehensive course contains industry-specific concepts and proven techniques to both aspiring and experienced mortgage brokers. Adopting an A to Z approach to mortgage broking, this course covers a broad array of information, including:

  • Introduction to the Australian Mortgage Industry: Licensing and Accreditation; Mortgage Broker Requirements; Finance and Real Estate Terminology; Industry Bodies and Related Organisations.
  • Legislation and Regulatory Framework: National Consumer Credit Protection Act (NCCP); Best Interests Duty (BID); Competition and Consumer Act; Banking Code of Practice; Privacy Act; Commission Disclosure; Comparison Rates; Codes of Conduct; Financial Services Reform Act (FSRA); Financial Transactions Report Act.
  • Lending Institutions and Loan Types: Banks; Credit Unions; Building Societies; Securitised Lenders; Non-Conforming Lenders; Owner Occupied Mortgage; Residential Investment Mortgage; Bridging Finance; Residential Business Loans; Personal Loans; Deposit Bonds; Lender Peripherals.
  • Loan Fundamentals: What Influences Interest Rates; Core Lending Products; Loan Features and Packages; Risk Management.
  • Lending Fundamentals and Ethics: The Initial Assessment; The Eight Cs of Credit; Employment/Income Considerations; Qualifying Rates; Debt Servicing Ratio (DSR); Net Servicing Ratio (NSR); Loan to Value Ratio (LVR); Lender's Mortgage Insurance (LMI); Loan Serviceability Calculators; Statement of Position; Risks and Mitigants; Credit Guides; Non-Resident Lending; Ethical Considerations.
  • The Loan Process - From Interview to Settlement: Client Needs Analysis; The Application; Submission and Approval; Settlement; Roles of Each Party; Residential Mortgage Process; Record Keeping; Finance Software; Commission Payments.
  • Calculation of Fees; Use of Grants and Concessions: Stamp Duty and Other Duties; Fees; State-Specific Grants and Concessions.
  • Understanding Financials and Corporate Entities: Balance Sheet; Profit and Loss Statement; Corporate Entities; Self-Employed Client and Case Study.
  • Productivity and Marketing Skills: Time Management Strategies; Goal Setting Techniques; Effective Communication; New Enquiry Strategies; Interviewing Techniques; Client Retention Program.

DURATION: Six months is available, if required, to complete the course by study.  However as mentioned, the course is self-paced so your pathway to faster completion may be achievable if you have existing competencies or if studying at a rate higher than 20 hours per week.  Students with skills or experience in finance frequently find the course can be completed ahead of the six months available.

Course Delivery

This program allows three flexible delivery options to suit your needs, including:
  • 3 full days (eg. Mon-Wed 9-4.30) live Zoom virtual workshop - you can be located anywhere in Australia. Click here to see our previous face-to-face venues.  Full self-paced online access also provided for post workshop revision and assessments, fully supported by online forum, phone and email support. Workshops are not recorded.
  • Distance education - self-paced correspondence including full online access, fully supported by online forum, phone and email support.
  • Online learning - self-paced online study, fully supported by online forum, phone and email support.

More Information

Please refer to the Cert IV Fact Sheet link below for further details and pricing regarding this course.  

PRIVATE TUITION

Private tuition is available for students already enrolled in the Certificate IV or the Diploma of Mortgage Broking. Delivered either by phone or  Teams, one of our trainers can be booked for a one-on-one hour of private training. Popular with students who are experiencing difficulty with their assignments.  This option is $140 p.h.

CENTRELINK ASSISTANCE - NFI's Certificate IV courses have been approved for Centrelink Student related assistance. Students are required to enrol and undertake a course on a full-time basis (20 hours per week) and make satisfactory progress towards completion. Students who wish to study part-time should contact Centrelink to determine eligibility for assistance. Busy At Work also may be suitable to assist with alternative funding.  Click here for information on what Government financial assistance may be available to you.

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