Sam White

Sam White. Executive Chairman of Loan Market Group. Keeping the market competitive for all Australians.

[Sam White @SamWhiteAU]

Labor changes its position on Haynes broker fees... An emerging story appearing in the AFR claiming Labor now knows that making broking unviable is a bad outcome for Australian consumers. #BankingRC #brokersworkforyou #banksrc https://t.co/gcbGzY6EQs

[Sam White @SamWhiteAU]

@dhymanaus @skinnykat03 Also full disclosure. We are a family owned business with no bank shareholders

[Sam White @SamWhiteAU]

@dhymanaus @skinnykat03 Not lying. Just concerned. Laura of talk about brokers. Good ones will be ok. Customers however need to pay extra fees. It means to change from a bad mortgage you need to pay fees to get into a new one, reducing savings from switching. Good for banks, bad for customers.

[Sam White @SamWhiteAU]

We've been told by the RC to look to the Netherlands for the fee-for-service model. This graph shows bank numbers after the model was introduced. So, what's waiting for us? Decreased competition, more fees for Aussies and more bank profits. Really? #dontgivethebanksafreekick

[Sam White @SamWhiteAU]

@duhughes Duncan, the Netherlands model means the de facto reintroduction of exit fees and deferred establishment fees for lenders. If you want to get out of a bad mortgage you would have to pay a fee to get into a new one. Good for banks, bad for customers

[Sam White @SamWhiteAU]

Banking royal commission: ME Bank backs go slow on mortgage broker commissions https://t.co/aBitxT9Ehq @sallymcmanus I know you would have seen this article. Why is Labor on the side of the big banks and against small banks like ME and competition. What is the deal? Can you help?

[Sam White @SamWhiteAU]

⁦@Bowenchris⁩ ⁦@sallymcmanus⁩

[Sam White @SamWhiteAU]

@sallymcmanus Great work. Is that how this RC went from looking at bank misconduct to killing the brokers that were reducing their marketshare? I thought Labor was against the big banks - not giving them a $2.6B free kick. ME Bank agrees -says Labor position supports big4. how did this happen?

[Sam White @SamWhiteAU]

@HenryErgas Great article. One point. Trail doesn’t prevent brokers recommending another lender. Goal is to keep client. If client switches, old bank stops trail, new bank starts paying. Nett the same. Happy client = more trail, regardless of who pays. ESP if all banks paid the same

[Sam White @SamWhiteAU]

@HenryErgas Great article. One point. Trail doesn’t prevent brokers recommending another lender. Goal is to keep client. If client switches, old bank stops trail, new bank starts paying. Nett the same. Happy client = more trail, regardless of who pays. ESP if all banks paid the same

[Sam White @SamWhiteAU]

Banking royal commission: Labor’s $2.6 billion a year gift to banks https://t.co/Liz7GA3U0d From Chris Joye. The heading says it all much better than I can. Labors policy on mortgage brokers a “gift from God as far as the big 4 are concerned” $2.6b a year!

[Sam White @SamWhiteAU]

Proud to support an industry initiative led by the @mfaa showing what the world looks like without mortgage brokers.
https://t.co/CNrespAhRI
#brokersworkforyou #keepcompetitionalive #findafairerdeal #loanmarket

[Sam White @SamWhiteAU]

ME bank position on broker commissionsin AFR- aligns with that of Productivity commission, Treasury, ASIC and Sedgewick. Why is Labor on side of big banks?https://t.co/aBitxT9Ehq

[Sam White @SamWhiteAU]

customer paid fees to brokers and banks is going back to the bad old days. We worked hard to get rid of exit fees so you can get out of a bad loan without paying more. If you have to pay fees to get into a new one then it’s the same outcome. Good for banks. Bad for customers

[Sam White @SamWhiteAU]

Agree whole heartedly @markbouris. A good move by @NAB

[Mark Bouris @markbouris]

Big banks comment on broker remuneration changes - The Adviser . This is very courageous and a welcome move by NAB . Good for the broker industry and good for Australian borrowers . Wow . https://t.co/6XKyHLQSaU

[Sam White @SamWhiteAU]

Or doesn’t that matter anymore? If brokers are so bad why was the only broker appearing before the RC owned by CBA? Why did the RC adopt the policy of CBA when 3 previous enquiries all rejected it? Why has the CBA share price risen so much? #Unaustralian #brokersworkforyou

[Sam White @SamWhiteAU]

This is the human face of what is happening whilst Choice & Labor celebrate. Doesn’t the Commissioner need to explain how he formed his opinions and which brokers he consulted before he turned 20,000 small business owners lives upside down? https://t.co/vCVSnLvj8Y (paywall)

[Sam White @SamWhiteAU]

Great chat today with @LindaMottram from @abcnews...while the banks profit soars, customers will be left to foot the bill. #disappointing #brokersworkforyou #BankRC #BanksRC, #bankingroyalcommission, #auspol #bankingrc
https://t.co/oB6am7wGg5

[Sam White @SamWhiteAU]

@clancyyeates @sunriseon7 @TheTodayShow @ABC @andrewprobyn @mfaa @aus_business @KarinaBarrymore @erin_bouda @carey_alexis @StephChalm @titletattle @ccokinas @AllexConley @alextcullen @sophieelsworth @eyersj @nick_fergus @katefisher09 @BenFordham @jamesafrost @Ross_Greenwood

[Sam White @SamWhiteAU]

Shares in mortgage business drop while Big Banks continue to profit. The Royal Commission rewards Big Banks - that will teach them!
#brokersworkforyou #keepcompetitionalive #BankRC, #BanksRC #bankingroyalcommission #auspol #ASX200 #banking, #bankingrc