Mortgage Advisors and Lawmakers Gather in Jerusalem to Push for Professional Regulation
In response to Bank of Israel data showing a 14% increase in mortgage volumes in the first half of 2026, the Mortgage Advisors Association held its “Era of Regulation” conference on Monday at the Binyanei HaUma convention center in Jerusalem. The event brought together hundreds of mortgage advisors, members of the Knesset, regulators, and senior financial sector officials. Among the speakers were Knesset members Rabbi Yaakov Asher, Vladimir Beliak, and Rabbi Erez Melul, alongside Nofar Yaakov, chair of the Mortgage Advisors Association, as well as executives from banks, insurance companies, and real estate and finance professionals.
The conference focused on advancing legislation to regulate the mortgage advisory profession, the future of the mortgage market, and the impact of artificial intelligence on the industry. The goal is to establish clear professional standards to enhance borrower protection and deepen public trust. Rabbi Yaakov Asher, a sponsor of the regulation bill, emphasized the urgent need to formalize the profession and provide proper backing for advisors. He stated, "Our ultimate goal with this law is to protect mortgage borrowers. This field should no longer be seen as trivial where anyone with a business card can act as an advisor. You deserve recognition from banks and the entire economic sector. When we examined public complaints, we found almost zero complaints against advisors affiliated with this excellent organization, which means you are doing your job excellently."
Rabbi Erez Melul also warned about the risks of an unregulated market, saying, "It is unacceptable that a profession dealing with decisions involving millions of shekels from families remains without a clear framework of professional regulation and responsibility. Anyone should not be able to present themselves as a mortgage advisor without mandatory training, examination, or licensing." He added that the proposed regulation law aims to protect the public from unprofessional actors while granting experienced and responsible advisors the recognition and status they deserve.
Nofar Yaakov summarized the vision behind these efforts: "A decade ago, we set out to make mortgage advising a profession the public can trust. Today, we can confidently say the change is already here, even before the legislation is complete. Regulation is not just a law but a standard of professionalism, responsibility, and ethics that primarily serves the public. Now, we just need to complete the process." Avi Yosufov, vice chair of the association, noted the strong attendance and unanimous support from public officials as proof that the industry is more ready than ever for regulation. He pledged continued efforts to ensure every couple in Israel receives professional, safe, and responsible mortgage advice.
