The quality that consumers perceive is being provided by mortgage brokers, in comparison with banks and credit unions, will improve following the introduction of the NCCP, according to the MFAA.

Yesterday, Australian BrokerNews reported that mortgage brokers had trounced banks and credit unions in a wide-ranging consumer survey conducted by Core Data, which labelled brokers as "the most efficient and effective mortgage sales engines currently operating".

However, the one measure where brokers lagged across seven categories was 'quality'. Banks came out ahead with a 76.4% approval rating from consumers, followed by credit unions on 72.1%. Brokers, in contrast, managed only 68.3%.

The 'quality' category was calculated by combining feedback on how well the loan offered matched a shopper's needs, the quality of information provided, and the appropriateness of the loan amount.

Responding to the quality finding, MFAA CEO Phil Naylor said he understood the finding came down to brokers wanting to get the most amount for their clients and perhaps in excess of their needs, at a time when borrowers were more risk averse.

"That should be assisted by the NCCP processes which requires the broker to be clearly aware of the client's needs and circumstances."

Naylor said another key factor is that the lender, being the decision maker, can be more precise as to how much they will lend.

Following broker success in the overall Core Data findings, Naylor said yesterday they made a mockery of Australian Consumers' Association claims consumers were not serviced effectively by brokers.

"We are not surprised by the service-related scores from brokers, because 41 per cent of all Australian mortgages are written by brokers and well in excess of half all new loans are broker-written," he said.