Mortgage Choice shares are being crushed

Ted Aljibe/AFP/Getty Images

Mortgage Choice shares fell hard after reports its franchisees are being pushed into ruin by the mortgage broker’s business model.

A short time ago, they were down 21% to $1.49.

An investigation by Fairfax and ABC’s 7.30 reported that franchisees have been financially devastated after signing up to the high profile brand.

Mortgage Choice told the ASX it is consulting with its franchisees on a more competitive remuneration mode.

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