The Mortgage and Finance Association of Australia (MFAA) has suspended another member for breaching its Code of Conduct.

Peter Hinck of Victoria has had his membership suspended after effectively admitting his own misconduct to the MFAA Disciplinary Tribunal. Mr Hinck submitted three loan applications on behalf of people he had never met or had never spoken to.

This is a clear breach of the MFAA Code of Practice, and hence a breach of the MFAA Constitution.

“This latest suspension - the second disciplinary action handed down in the last two weeks - will resonate with our members. The message is clear: do the wrong thing and you will be dealt with,” said MFAA CEO, Phil Naylor.

Last week the MFAA announced it had expelled a member for signing her former employer’s signature on a statutory declaration without his consent.

“As the peak body of the mortgage and finance broking industry we are committed to improving standards and integrity. It is not in brokers’ best interests to behave in anything other than a professional manner,” said Mr Naylor.

“All our members must abide by the high standards set. This way borrowers know they are dealing with professionals bound by strong ethical principles and who have a high level of expertise and experience.”

The MFAA’s dispute resolution system allows anyone to report an MFAA member whom they feel has behaved inappropriately.

The MFAA Code of Practice is enforced by the Association through its Disciplinary Rules and Tribunal and is well respected by the industry. If members breach the Code they will be subjected to disciplinary action, the ultimate outcome of which may be expulsion.

“In ridding the industry of those on the fringes, we increase consumer confidence so that they are able to borrow with confidence.”

For a current list of suspended and expelled members, please visit MFAA - Expelled and Suspended Members