- Full name: Ashley Hooker
- Job title: Owner / Senior broker
- Company: Mortgage Choice Woronora Heights
- Number of years in the industry: 13
- Location: Woronora Heights, Sutherland Shire, NSW
How and when did you become a mortgage broker?
I initially started as a loan writer around 2012 for an existing broker. After completing the initial learning curve, I decided to start my own business and became a franchisee.
In your opinion, what has been the most positive development in broking?
I think Best Interests Duty (BID) has become our superpower. When it was first introduced, everyone freaked out about the extra paperwork. But it turned out to be the best thing that ever happened to the industry. It has instantly built trust in the broking channel.
I also think that tech has come such a long way. I remember when doing a loan application meant printing out 80 pages of bank statements and chasing clients for physical signatures. The massive upgrade in digital ID checks, automatic statement scraping, and slicker aggregator platforms has saved us a tonne of time. And AI is actively saving brokers from drowning in paperwork right now. These days, AI can help you with everything, including the application process, compliance, marketing, and retention.
What challenges do you see currently facing the industry, and what solutions would you propose?
There are new challenges facing brokers today. For example, customer incomes are more complex, with fewer people working standard 9-to-5 jobs with a flawless savings history. Many of my customers have a side hustle, contract work, or a complex self-employed setup. On top of that, banks often change their serviceability calculators, which means a customer’s borrowing power can change significantly from one week to the next.
The other challenge facing brokers is customers being obsessed with the absolute lowest rate. And it’s understandable, when you consider the rising cost of living.