An FBAA poll has revealed that regulatory and compliance tasks are among the top contributors to broker workload.
Recent data from the Finance Brokers Association of Australia (FBAA) has highlighted that regulatory and compliance tasks are the second-largest contributor to broker workloads, behind only loan reviews/reassessments.
According to a finance and mortgage broker poll by CoreData, commissioned by the FBAA in November, half of brokers currently work more than 40 hours a week, with one in five working more than 50 hours, reflecting the significant time investment required to manage their workloads.
The three main factors contributing to broker workload were found to be:
Loan reviews and reassessments (26 per cent)
Regulatory and compliance tasks (23 per cent)