cba greed is apalling, page-23

As finance broker I am inundated with calls from clients wishing to refinance to the smaller banks, the big 4 have really done it now. We have a panel of 26 lenders. As a solo broker we would write an average of one loan a fortnight if we are lucky. There have been many things happening to brokers since the GFC that the public are not aware of. CBA brought in that if you don't give them a certain amount of loans per quarter you will be struck off their panel of lenders, in affect they are telling us that weather the product is right or wrong for the client unless we give them the deal we can no longer write loans for them. Westpac have also followed suite. I am amazed the government has allowed this it is anti competition and not looking after our clients best interest, as a result CBA have lost a considerable amount of their broker channels as have Westpac. The broker Chanel represents around 40% of their loan market. And to add to insult if we want to write loans with them again after being struck off they want to charge us??? Seeing what has been happening with the industry over the last two years has been very alarming, but the media doesn't seem to have picked this up. The policies have become so stringent that in affect they only want vanilla clients MR and Mrs Average don't stand a chance. Every single loan written at present comes with a fight nothing is smooth. And to top it off they have dropped our commission by 35% on average we make .44% of a loan.