The mortgage industry is due a shake up in the wake of the current domestic and global conditions Firstfolio managing director Mark Forsyth said.
Speaking at the ASX-listed group's annual conference in Port Douglas last week, Forsyth said further consolidation was inevitable.
"The mortgage industry must face up to the fact that further consolidation amongst brokers is inevitable," he said.
"The recent events in the US, which have had a knock on effect on the mortgage market in Australia, coupled with greater pressure on margins, show that brokers should be thinking about what umbrella group they are sitting under, their service offering, and the value they can create with their clients."
Firstfolio is a financial services company specialising in mortgage finance and related management services.
