External Mentoring – Residential

Mr.Mentor is so excited to bringing a brand-new concept for the Mortgage Broking Industry.

This concept is not only practical and affordable It enables the experienced Mortgage Broker (A Broker that fits the Peak Body Requirements for Mentoring) the opportunity to mentor new brokers into their business.

It allows them to grow their team without having to sit down and do the basic teaching of Mortgage Broking. The experienced Mortgage Broker is too busy to sit down and teach their new mentee everything. The Mr.Mentor lesson system does this for the Experienced Mortgage Broker.

It enables the experienced Mortgage Broker the freedom to continue working on his business whilst his new mentee is learning. His new mentee will be able to shadow the Broker and learn by his example.

How does the system work?

This system involves a tri party agreement between the following stakeholders:

  • The Service Provider – Mr. Mentor Pty Ltd
  • The Approved Mentor
  • The External Mentee

The Responsibilities of the Service Provider

  • The Service Provider will facilitate the Mr. Mentor Mentoring Lessons (12) over the first 6-month period from the commencement of this agreement. The Lessons will be scheduled to suit both the service provider and whenever possible the Approved External Mentee

To provide and maintain the material for the 12 formal lessons provided by Mrmentor over a 6-month period. This material includes

  • The Resources
  • The Assessment Kits
  • The Tool Kits
  • Full Access to The Broker Portal
  • To communicate with the approved mentor to ensure the mentor is comfortable with the program

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  • The Service Provider is responsible for ensuring there is adequate resources to be able to deliver the training material and course to the Mentee
  • The Service Provider will deliver the material to the Mentee by Zoom or by any other online medium
  • The Service Provider will hold Continuous Professional Development (CPD) sessions to assist the mentee to obtain MFAA (CPD) hours or FBAA (CPD). These sessions are currently held weekly and are subject to change.  There are no CPD session held in the months of December and January
  • To maintain records of the mentees the CPD Points gained from attending the mentoring and (CPD) sessions for the first 2 years.
  • To allow the approved mentor to sit in on any lessons provided by the service provider that their mentee will be attending
  • To allow the external mentee access to the Mrmentor portal for a 2 year period
  • To issue a certificate of completion upon successful completion of lessons and assessments with a Competent level – noting the CPD points achieved for the course completion

The Responsibilities of the Approved Mentor

  • To allow the mentee practical office work sessions aside from the lessons
  • To review the mentees loan scenarios before loan submission for the mentees first 12 loans or for the total of 2-year period – whichever the mentee prefers.
  • To allow the external mentor time in the approved mentor’s business to complete homework from the Mrmentor lessons
  • Not to interrupt the service providers lessons unless invited to do so if attending the lessons
  • The Approved Mentor understands and agrees that the Mrmentor Program and all its related intellectual property is not to be used or copied in any other mentoring program unless expressed written permission is given for another entity to use the intellectual property of the Mrmentor Program
  • To provide to the Service Provider evidence of Peak Body approval status
  • To abide by Peak Bodies Approved Mentoring Status
  • To hold a presentation event for the mentees who successfully complete the 12 lessons

The Responsibilities of the External Mentee

  • To attend the scheduled lessons
  • To have the appropriate software to be able to complete the lessons
  • To be respectful of both the service providers and other mentees attending the lessons
  • To complete the assessments at the completion of the session and to submit the assessments to either admin@mrmentor.com.au or to upload online
  • To have permission from the External Mentee post a testimonial and or photo on the Mrmentor website from the presentation and to take photos of the mentee during the lesson
  • The Mentee understands and agrees that the Mrmentor Program and all its related intellectual property is not to be used or copied in any other mentoring program unless expressed written permission is given for another entity to use the intellectual property of the Mrmentor Program
  • To pay the agreed  mentoring fees to the service provider   which are outlined in this agreement and are noted  on the Mrmentor website: mrmentor.com.au
  • Termination: Should the Mentee decide to terminate the agreement the Mentor  may do so by providing 30 Days’ notice in writing by emailing to admin@mrmentor.com.au. Please note the payments will stop after 30 days of notification and there is no refund for the initial sign up fee.
  • The Mentee understands that the Service Provider are not responsible for teaching The Mentee any software programs as the mr.mentor lessons are non-aggregator specific
  • To ask the mentee to sign the Mrmentor mentoring agreement
  • You agree to send the mentoring agreement to admin@mrmentor.com.au
  • To give evidence of 100 points Certified ID to the service provider
  • To allow the service provider to hold your contact details and your emergency contact details
What are the Peak Body Requirements for an Approved Mentor?

FBAA Accepted Mentor Requirements

To be endorsed as an FBAA Accepted Mentor, you must meet the following requirements:

  1. Be a member of FBAA and be a current loan writer wit at least 4 consecutive years of trouble-free lending/finance broking experience; OR
  2. Be a professionally qualified educator in lending/credit and have worked in the lending sector for at least 4 years; AND
  3. Provide written proof of your suitability to act as a mentor in-line with eitherPoint 1 or Point 2 above:
    • The completed Accepted Mentor Program Application Form;
    • A copy of your Mentoring Plan;
    • Four written references that support your experience as a Mentor;
    • Your current professional resume; and
    • Evidence of relevant professional membership/s.

MFAA Accepted Mentor Requirements

To be endorsed as an MFAA Accepted Mentor, you must meet the following requirements:

  1. Be a current MFAA member
  2. Have four years’ experience in loan writing (or have settled 50-plus finance applications)
  3. Preferably be working under the same aggregation group
  4. Have a structured program to guide you or utilise the MFAA’s Mentoring Program
  5. Put in place a written agreement that states the parameters of the mentoring process and what it will deliver, particularly if payment for services is involved
  6. Sign off your completion of the Mentoring process at your first annual membership renewal and upon completion of the two-year period. This is done by completing the Mentor Declaration Form.
What are the lessons Mr. Mentor will deliver?

Click here to view the full course overview

How Much does this Program Cost

External Mentoring Program Pricing

Payment Plan 12 Months MonthlyCostGSTTotal
Sign Up Fee $1,000$100$1,100
Monthly payments12 payments of $120$1,440$144$1,584
Total Mentoring Fee$2,440$244$2,684

10% Discount if Paid Upfront

Benefits of the Program

This program has been developed by Brokers who are not just trainers they are

  • Successful Mortgage brokers
  • They have Loan Books
  • They understand the nuances of Broking
  • They are ready to get their hands dirty and really help the mentees
  • They are skilled at handling a variety of learning abilities
  • They know how to be Professional
  • They know how to communicate with all stakeholders
  • The Program is not reliant on one person
  • The Program is delivered electronically by Zoom or You can come to the Melbourne Office
  • The Program is designed to deliver practical and measurable outcomes
  • The Program is affordable for the Approved Mentor

There is no doubt that this program will be a game changer for many in the Industry. The Mr.Mentor team are so thrilled to be bringing this new initiative to the industry. We welcome all enquiries and together we look forward to helping this great Mortgage Broking Industry. We know this program will deliver many more professional and truly successful new entrants into the industry