MFAA releases details on SMSF lending program
The Mortgage and Finance Association of Australia (MFAA) has released further details of its upcoming self-managed superannuation fund (SMSF) lending program for mortgage brokers, with the course expected to commence in June.
Earlier this month, MFAA chief executive Phil Naylor and industry experts said brokers would have the opportunity to play a central role in the SMSF industry as more investors considered investing their super directly into property.
According to Naylor, the course — which will be managed by Peter Dunworth, director of SMSF compliance solutions provider Super Fund Pro — will involve two different programs catering for credit advisers who simply want an understanding of SMSF lending and limited recourse borrowing, and those who would like to move into project managing the end-to-end SMSF lending process.
From 29 April, a free 40-minute online video outlining the program will be made available on the MFAA website for those considering undertaking the training, the MFAA stated.
The industry body added that the program itself would average 30 hours and use a combination of audio and video sessions, assessments, learning checks and case studies, ending with an optional workshop.
"At the end of the program, participants will have a thorough understanding of their role in setting up and managing SMSFs; understanding borrowers' investment strategies and the risk involved; project management of the process; debt reduction strategies; continuity and liquidity reviews," Naylor said.
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