Former financial planner finds his true calling in self-employed mortgage broking
Broker in Focus is a dedicated series that highlights the unique journeys of mortgage brokers, providing them with a platform to share their experiences, insights, and expertise. Through compelling personal stories and professional reflections, each featured broker recounts the key moments that have shaped their careers, delves into the challenges and opportunities facing the industry today, and shares the valuable wisdom they have gained along the way.
For this week’s edition, MPA interviewed Livio Tramontin (pictured above) of MPL Mortgage Services, who seven years ago made the bold decision to leave the comfort of employment and embark on a self-employed career as a mortgage broker. Today, he is a Mortgage Choice franchise owner.
Full name: Livio Tramontin
Job title: Finance solutions broker / Mortgage broker / Business owner
Company: MPL Mortgage Services
Number of years in the industry: Seven as self-employed finance broker, 45 years in the finance industry
Location: Findon, South Australia
How and when did you become a mortgage broker?
I became a self-employed mortgage broker seven years ago with my business partner who is an accountant. After being employed in the finance industry for over 38 years, working within the banking industry and as a certified financial planner, I decided to give self-employment a go. This was so I could reflect back on retirement and say, “Yes, I gave self-employed a go”. Knowing that it would have been difficult to obtain money from clients for investment purposes, giving money to clients was the obvious solution – hence mortgage broking. Most people need a loan to buy a home.
In your opinion, what has been the most positive development in broking?
The ability for clients to recognise brokers who are well placed to assist with their financial needs. Brokers have now approximately 75% of the market share, and lenders should be worried because this number will continue to increase. Clients have clearly shown their dissatisfaction with lenders for various reasons.
What challenges do you see currently facing the industry, and what solutions would you propose?
Lenders trying to gain back market share by implementing their own “e-broking” houses which are not available to brokers and clawback. Lenders should work with the brokers to give them all the support they can, not undercut rates offered by brokers in a refinance scenario (after all the hard work the broker has put in), remove clawback completely or review so brokers are not disadvantaged when clients do move their loans elsewhere.
Can you share a memorable or challenging experience from your career as a broker and the lessons you gained from it?
Each time I make a client’s homeownership dream a reality and to see that smile on their face or their voice of happiness over the phone – these are memorable moments for me. Then to receive a great review, I know I’m in the right industry.
Could you share any valuable advice for individuals aspiring to become brokers or those new to broking?
Be approachable, have an outward personality, be prepared to learn. If you don’t know something, be honest and own up. Learning the processes, analysis and lending protocols is not difficult as there are many support personnel and tools to help you, but no one can teach you how to listen and be empathetic to clients’ feelings.
Broker in Focus is a weekly MPA feature spotlighting mortgage brokers from diverse firms and locations across Australia. Among those recently featured are Mark Bonnici of Westlend Home Loans, Rebecca Timms of Realise Home Loans, Scott Stevenson of Mortgage Choice, Xavier Quenon of Go Mortgage, Peter Bassilios of Money Tree Mortgage Brokers, Andy Truong of Alliance Mortgage Group, Andrew Hadjidemetri of Australian Financial and Mortgage Solutions, John Minihan of Professional Finance Mortgage Broker, Daniel Bowler of Mortgage Choice, and Scott Wills of Mortgage Choice.
Are you a mortgage broker interested in being featured? Email the author with your details.
