How can I become a mortgage broker in Australia? To become a mortgage broker in Australia, the minimum education requirement is the FNS40820 Certificate IV in Finance and Mortgage Broking. This is stipulated by the Australian Securities and Investments Commission’s Regulatory Guide (RG 206). Obtaining this qualification is generally the first step to becoming a mortgage broker. You may also choose to join a professional association, Finance Brokers Association of Australia (FBAA) or Mortgage and Finance Association of Australia (MFAA). Please review the educational requirements on the FBAA and MFAA websites for further information.