Newsagents buck the party line of mortgage broking

Australian Newsagents Federation said 1,200 newsagents would become a marketing arm for mortgage broker Homestar Finance. Newsagents may earn a commission or referral fee of up to $470 on each loan. The Mortgage Industry Association said that the lender was not a member of the association, and was not subject to the code of practice and dispute resolution scheme used by many brokers.