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Broker Accreditation

How to become an accredited Residential Mortgage Broker with the Commonwealth Bank

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We are making enhancements to our accreditation program, as part of our focus to consistently deliver quality customer outcomes.

To ensure we can implement this new process properly, we have frozen all new accreditations effective immediately.

We expect to begin accepting new accreditation applications in the first quarter of 2018.


New CBA accreditation standards


We want to ensure the Head Groups/Aggregators (or Australian Credit License holders) we work with have high governance and performance oversight standards.  We will review each Head Group / Aggregator to ensure these standards are being met and maintained. Head Groups/Aggregators must meet these standards to be able to submit CBA accreditation applications.

In addition, mortgage brokers seeking accreditation after the freeze period will need to meet a number of key criteria before their application is accepted by CBA.

The new criteria requires candidates to:

  • Hold at minimum a Diploma of Finance and Mortgage Broking Management;
  • Be a current member of either the Mortgage & Finance Association of Australia (MFAA) or the Finance Brokers Association of Australia (FBAA);
  • Be a Direct Credit Representative or Employee of an approved Head Group/Aggregator or Australian Credit License (ACL) holder; and
  • Have at least two years face-to-face experience writing regulated residential loans.


Freeze period information


CBA will not accept any new accreditation applications during the freeze period. We acknowledge that you may already have an application in progress. Our approach to “in progress” applications is set out below:


“In progress” applications


These are defined as applications where the Head Group/Aggregator has started the application, and the candidate has accepted it "Broker Accepted".

These applications will be processed under the existing (previous) accreditation process.


Transfer applications


We will consider brokers seeking to transfer their existing accreditation during the freeze period subject to the following:

  • The broker is transferring to an existing CBA approved Head Group;
  • As a Direct Credit Representative of their chosen Head Group;
  • With no (known) adverse issues; and
  • Provides a ‘clean’ Release Letter from their previous Head Group.