Really strange to my mind that ASIC seems completely out of touch with market forces. Really there is no way that you can pay mortgage brokers the same for a $50k loan as for a $2m loan, and there is no way that a broker that provides loans that stay around for a decade can be paid the same as for a loan that stays for 18 months. In the end the quality of the loans will have to be correlated with the payment. Simple, isn't it? Otherwise it would be a very fragile arrangement that would benefit nobody. They seem to be stuck in the mindset of an hourly rate, but that is not how the world works, other than confected situations where, for example, lawyers try to charge based on an hourly, and not the quality of their work.
