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Jenha White

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Mortgage News

TNP latest to launch mortgage broker group

Wednesday 12th of January 2011

TNP managing director Jeff Page says TNP Home Loans is the third component to its product offering after the recent launch of TNP Wealth Management.

Page says the aim of the new opportunity is to provide mortgage brokers with a model that supports their business around quality mortgage advice coupled with insurance and sound household financial advice.

"TNP Home Loans will be working with mortgage advisers that have an understanding of the new opportunities in the new regulated environment and it will provide the stepping stones to assist development of their businesses to generate more income from quality clients."

He says having the NZMBA chairman and chief executive Darren Pratley as part of the team also enhances the unique qualities it brings.

Pratley says it is a very exciting opportunity to help build a home loan environment that is about success and opportunity.

He says TNP Home Loans has a software platform that provides both mortgage and insurance support, a sales school, educational and support focus and a programme called TNP assist to help advisers with regulation applications, lending administration and compliance.

Pratley's Home Loan Group (HLG) and HLG Insurances will also be joining TNP.

"It allows us to enhance our offering as it will provide the group with further options and training to enhance the existing platform and extend the options for the group to a wider audience," he says.

TNP Home Loans will also benefit insurance advisers, Page explains, as they will not only have the opportunity to refer leads to mortgage brokers, but a training and accreditation programme will also offer them the opportunity to get into the mortgage broking industry.

Comments (3)

Simon Rule

Given the expected shelf life of the NZMBA and its relevance to the industry going forward it's probably timely that its chairman & chief executive looks to pursue other ventures. Once again can someone from the NZMBA please tell us what role the association has to play given that mortgage brokers must by law now belong to an independent disputes resolution service provider? I'm struggling to see what benefits NZMBA membership of $900+ per year entitles a mortgage broker to. It sure as heck isn't recognition by the consumer that’s for sure! The last 50 clients I saw for mortgages have never even heard of the NZMBA let alone what role the association has in New Zealand.

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13 years ago

Allistar Walker

I'm not sure John's comments are relevant to the NZMBA alone or in fact if they are entirely relevant. NZMBA executive have been leaders and key spokesmen for the mortgage industry regarding legislative changes and protecting the industry into the future. Someone had to do it. They did. I'm sure that if you asked most clients whether they knew about NZMBA, PAA, LBA etc you would get a negative response. Our job is to let clients know about the structures under which we operate and ultimately competition will sort out which structures survive. As we are all aware the financial services industry is undergoing massive change and the future relevance of any such organisations to Advisors will be sorted out by us. I congratulate TNP on its moves as it consolidates my 20 year belief that Mortgages and Insurances are mutually inclusive, particularly since the banks went that way. I look forward to refining my various memberships of both mortgage and insurance organisations in the future, a decision based on who will add best value to what we do, once the dust has settled. Hopefully that will result in less costs to all of us. By the way I am happy to help, advisors with mortgage deals, either residential, commercial or investment.

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13 years ago

Simon Rule

Not relevant? Allistar if the NZMBA had actually got off its backside and policed the industry over the last 7 years (instead of focusing on growing its fee revenue from members) mortgage brokers would not have had regulation thrust upon them in the first place. I have no issues at all with trying to improve standards but now we have all manner of additional compliance costs and procedures being added to our businesses that will benefit no one but the bureaucrats themselves! Those of us that have always operated ethically and had our clients best interests at heart pay the price for the bad apples and someone else’s inaction, be it the politicians themselves or the associations supposedly set up on the principal of monitoring standards! From where I sit having worked in the industry for the past 16 years the NZMBA have no legitimacy to say they speak on behalf of mortgage brokers anymore. They dropped the ball big time and let us all down. Brokers also need to remember that if it were not for the banks themselves (lobbying on our behalf to the Government) we would ALL have been made to go through authorisation at an est upfront cost of some $6,000+ to most of us for training through the ETITO. At a time when the market is not by any means busy this would have seen most brokers exit the market which would have disadvantaged the consumer immeasurably. Thankfully the government had enough smarts to realise this and made authorisation optional. The NZMBA & ETITO were pushing for all mortgage brokers to be authorised, the NZMBA just so it could show it had some relevance still with training administration etc. When you have an association/organisation that promotes a self serving agenda its membership will naturally over time diminish.

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