ISSUE 8 July 2011 THE VOICE A regular publication from Vow T: 1300 730 050 ABN 66 138 789 161 In this edition •Welcome from CEO • Vow National Conference • Brokers Shifting Focus – Michael Osborne • A Day Out on The Harbour • State of Origin II •June Product Training Days • VowXtreme • Industry Focus (Mario Rehayem, Pepper Homeloans) • Up Close (Rob Diodato, The Mortgage & Finance Professionals • Book Review • Our 2011 Preferred Partners • Team Vow The Ascent Program Upcoming Events Product Training Days July 28 – Perth August 2 – Tasmania August 3/4 – Sydney August 4 – Newcastle August 9 – Brisbane August 11 – Melbourne Ponder this... “In the business world, the rearview mirror is always clearer than the windshield.” - Warren Buffett There are two succinct messages for our industry coming out of the Labor Government’s decision to ban exit fees. First, it illustrates that Labor doesn’t understand our industry, because this ban will help reduce competition – the very opposite of what they claim to want. But I believe the second message is more important; Labor is not listening to our industry. On an issue of such importance to brokers, where the logic of our argument was self-evident, Labor simply turned a deaf ear. It suggests that our industry has to become smarter about how we lobby Canberra. Instead of being reactive, literally waiting for the Government to enact poor policy before doing anything, we should be more proactive, with an obvious example being the need for the Government to seriously support non- bank lenders. The $20 billion dedicated by the Australian Office Finance Management to support securitisation does not equal one month’s lending volumes, rendering it virtually farcical. The MFAA and the industry began a grass roots campaign directly involving brokers on issues critical to our commercial well-being. But much more needs to be done. A good starting point could be to get Labor to replicate the Canadian Government’s Housing Corporation that insures one in three mortgages funded in that country, a policy that underpinned its banking industry during the GFC while still maintaining a healthy level of competition in the mortgage market. Whatever the issue, now is the time for the industry to put its collective shoulder to the wheel to safeguard our income and secure the long-term future. I look forward to hearing your thoughts. Welcome to the 8th issue of The Voice... Our second National Conference is being held at the stunning Sofitel Fiji Resort and Spa from 7-9 September. There are already 100 delegates confirmed to attend and an amazing activity and speaker program. Registrations will be closing soon – please go to www.VowConference.com.au. For more information about the conference please contact your Vow BDM. WELCOME NATIONAL CONFERENCE 2011: 8 weeks away! Tim Brown CEO - Vow Financial Wholesale Aggregator of the Year We look forward to seeing you in Fiji with the stunning Pacific Ocean as the backdrop!
6
Embed
THE VOICE - Vow Financial · A regular publication from Vow THE VOICE A regular publication from Vow ISSUE 8 July 2011 T: 1300 730 050 ABN 66 138 789 161 STATE OF ORIGIN 1. State
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
ISSUE 8 July 2011
THE VOICEA regular publication from Vow
T: 1300 730 050 ABN 66 138 789 161
In this edition•WelcomefromCEO•VowNationalConference•BrokersShiftingFocus –MichaelOsborne•ADayOutonTheHarbour•StateofOriginII•JuneProductTrainingDays•VowXtreme•IndustryFocus(Mario Rehayem,PepperHomeloans)•UpClose(RobDiodato, TheMortgage&Finance Professionals•BookReview•Our2011PreferredPartners•TeamVow
The Ascent ProgramUpcoming EventsProduct Training Days July28–Perth August2–Tasmania August3/4–Sydney August4–Newcastle August9–Brisbane August11–Melbourne
TeamVowXtremeiswalking100kmtoraisemoneyfortheworld’spoorestcommmunties.Sofarwehaveraisedover$8Kandarelookingtoraisemuchmore.If you would like to donate please go to:
What was the last book you read? Insomeoneelse’sshoes.
What CD is currently in your car stereo? It’sembarrassingbutheregoes;acompilationofPrince&MichaelJackson’sgreatesthits.
If you weren’t working in the mortgage and finance industry what would you like to be doing? IhavealwaysbeeninterestedinLaw,especiallybeingabarrister,you’reunderpressure24/7,andthethrillofwalkingintoacourtroomandownitwouldbeeuphoric.
What are the big issues facing the mortgage broking industry in the next two years? Weneedtobeverymindfulonwhattheindustryisdoingtoattractnewblood.Newbloodiscrucialforthisindustry’slongevity.
What was the first job you ever had?Itwassales&marketing;attheageof16Istartedalocalcalendarrunwhichhadlocalbusinessespurchaseadvertisingspaceonthecalendar.Soldthebusinesstothelocalnewspaper2yrslater,andmanagedtowinalocalbusinessawardintheprocess.
What drives you?Besidesmywifeandkids...innovation&success.Thereisnobetterfeelinginwatchingsomethingevolvethewayyouplanned.
What do you drive?2010BMW323MSpecasmydaytoday.IalsohaveaNissanGTRVSpecR33foralittlefunonthetrackwhenIgetthechance.
How do you unwind? AbottleofHighlandPark40Yroldscotch,anassortmentofmum’sspecialrecipepicklesandafewmates...heavendownunder.Nowbacktoreality...takingthekidstoalocalfishingspotorkidsplayhouseontheweekendistheusualtimeoffforme.
Where is your next holiday destination? Lebanon&Parisherewecome!
Industry outlook:Mortgagebrokingasaservicehasbeeninexistencearound17years.Overtheyearsalothaschangedandwillcontinuetodoso.Gonearethedayswhereamortgagebrokerisusedjustformortgagesorforrateshopping.Today’sbrokersarenowlicensed&areabletofillthegapinthemarketthathasbeenmissinginthepast.Brokersnowserviceconsumersinthemarketthat
T: 1300 730 050 ABN 66 138 789 161ISSUE 8 July 2011
INDUSTRY FOCUS
Mario RehayemDirector, Sales and DistributionPepper Homeloans
This issue we asked Mario Rehayem at Pepper Homeloans a few personal questions and to give Vow his thoughts on the industry and partnering with Vow.
THE VOICEA regular publication from Vow
www.vow.com.au
THE VOICEA regular publication from Vow
How did you get into mortgage broking? Ihavealwaysbeeninbanking.SeemedlikeanaturalprogressionforwhereIwasheadedinmycareer.Wantedtoconcentrateonclientrelationshipmanagementmoreandthebankswerenotsoinfavourofthatideaandkepttransferringmearound,sodecidedtostartmyownbrokingbusinessin2001.
What’s the key to success in the broking industry?Ithinkthatagoodknowledgeofthebankspoliciesandafocusoncustomerservicearethetwomainkeystosuccess.Clientswanttoknowsoundinformationandthatyougetwhattheywantinatimelymanner.
Describe your approach to business in five words.Serviceiseverything.(onlythreeIknow).
What changes have you seen in the industry since you became a broker?ProductisthemainchangeIhavenoticed.Theevolutionoflowdoc,thenthereturntofulldocandbackagain.MorerecentlythroughtheGFC,reducedlendingmarginshasbeenthebiggestissue.
What are the big issues facing the mortgage broking industry in the next two years? Ithinktheclawbackissueandthepaymentstousasbrokerswillbecomesomethingwewillneedtocontendwith.Theimpactoncashflowandthevalueofourbooksisamajorissue.
What’s great about working with Vow Financial? Thepeople.
How do you unwind?Igosurfing.
What are you watching?Footy(AFL)andsonsofanarchy.NotmuchintoTV.
What are you listening to?TheFooFightersnewalbum.
What makes you happy? Timespentwithfamilyandfriends.
What’s your ultimate goal? Workwise:haveabusinessthatrunswithoutmeinit.Personal:traveltoplacesthataren’ttouristy.
If you could have any two people in the world to dinner, who would they be?Alive:JenniferHawkinsandtheDalaiLama.Peoplethataredead:JesusandMary.Somequestionsneedanswering.
Have you had a life changing moment?Yeah,acouple.BiggestonewasthebirthofmydaughterDemi.
Finish this sentence. ‘Success is…beinghappywithwhatyouhave.
Where is your next holiday destination? Fiji,fortheVowConferenceinSeptember.
How did you earn your first dollar? Apartfrompocketmoney,Ipackagedupclayintocubesforaguythatmadepotsandvasesetc.$15aweekwhilstIwasatschool.
UP CLOSE Rob DiodatoThe Mortgage & Finance Professionals
Rob Diodato,Director, The Mortgage & Finance Professionals (WA)
ROB’S STORY…
T: 1300 730 050 ABN 66 138 789 161ISSUE 8 July 2011