We require the Broker to complete the following broker tasks before we start packaging an application:
●  Qualify your customer and take the necessary steps to complete your aggregator compliance requirements and best interest duty.
●  Provide us with your Broker/Loan Notes and any supporting documents you have received from your customer.

And we will do the following for the brokers:

1. Serviceability Checking
● Initial docs checking
● Valuation/Pricing Order
● Veda report order
● Research (marketing research with lenders based on the customer’s requirements)
● Serviceability calculation
● Research Report preparation and send to the broker to go through

2. Prepare Loan Proposal
● Prepare the Loan Strategy Report with products comparison
● Go through the Loan Strategy Report with the broker
● Update the Loan Strategy Report if needed

3. Docs Collection and Verification
● Assist in missing documents collection
● Documents verification
● Prepare the file for processing

Once the file is ready for processing, it will be allocated to our processing team.

Stage 1: Form generating and submission
1. Data entry in Aggregator System
2. Data entry in Form Generating System
3. Form generating
4. Prepare FHOG/FHLDS forms
5. Once the customer returns the signed credit assessment and application forms, we will finalize the application and advise you that the application is ready for review and submission.

Stage 2: File follow up
We will complete the following once the application has been submitted:

1. All lenders follow up from submission to formal approval, including updates in Broker Engine.
2. Provide the customer with regular updates Following up on the OS required from the lender and ensuring all OS needed are fixed.

Stage 3: Approval
1. Double check the products and rates on the formal approval letter
2. Complete the formal approval checklist in our system
3. Send Email to the customer on the formal approval letter and outline the next steps
Prepare and follow up discharge forms if applicable (Refinance only)

Loan docs issued:

● Following up on the loan documents to be issued
● Loan docs checking when issued
● Download and send the loan documents to the customer to sign if needed

Settlement:

● Following up settlement conditions if applicable
● Ensuring the OFI is ready for settlement (Refinance Only)
● Advise the customer about the funds to complete prior to the settlement
● We will liaise with all parties to ensure that the file is ready for settlement and advise the customer once the settlement is booked.
● Email notification to the customer about the settlement
● Send the settlement breakdown details to the customer

We will complete post-settlement tasks such as:

● Loan change request
● Cash rebates apply and confirm
● Offset account setting up if needed
● Birthday review
● Rate review and Annual review (Fixed rate expiry follow up)

● Construction document checklist collection and follow up
● Commencement letters follow up and send to the builder/customer
● Construction tracking until construction completion