LOAN PROCESSING SERVICES
LODGEMENT ONLY SERVICE
- For all new deals, you need to send us an email and note "New DEAL / SURNAME" in the subject line. In order to start preparing the application you need to provide us with Coversheet, Fact Find, BID Form, broker notes, living expenses breakdown and supporting documents. Please send us all supporting documents used to assess the client application.
- You can use our Coversheet and Fact Find but we will accept your version as well if it is clear enough and if it has all the details required. If clients are already entered in your CRM, and the details are current, let us know and you are not obligated to send us a Fact Find, just ensure that the details are up to date.
- You also have an option to upload documents directly to Dropbox folder that we will create and share with you on onboarding. In that case, let us know by email that you uploaded files. For uploading files, use the "Leads" folder that will be created for you. You can also provide us with a download link to other cloud based systems such as OneDrive or Google Drive (which don’t require a sign in).
- We will use the Dropbox folder created and shared with you on onboarding for saving of all inputs and outputs, related to your applications.
- Documents saved on our Dropbox are for our use and for you to review.
- We need a separate Coversheet for every application received (i.e. if you send us 3 subsequent applications, you will need to provide us with 3 separate Coversheets for each).
- You will receive acknowledgement email right after we receive your application.
- We will save and rename (xSource user friendly naming system) all received documents on our shared Dropbox folder.
- If the deal is already started in your CRM we will use this existing deal (to be sure not to miss it, please let us know if there is an existing deal).
- We will enter all details to your CRM and Apply online based on your instructions from Fact Find and Cover Letter and verify this information using supporting documents.
- We will order valuation or request pricing discount if needed (on request).
- We will generate outputs (NCCP docs, SC, DA if needed, Application form, ID form and all other docs required by the selected lender) and create a bank file on our Dropbox based on the Lender checklist.
- Once everything is ready, our Teamleader will perform a quality check as per our standard process.
- When we send you outputs for your first application with us, you will receive a few questions regarding your CRM and the process in general.
- We will provide you with outputs by email (Lender Application Form, ID Forms, NCCP documents, DA Form, Serviceability Calculator etc).
- Time frame for the outputs is 24 hours, since the moment the Cover letter and Fact Find are received by our team. If for any reasons we need more than 24 hours to complete your deal, we will let you know. Loan Processing Team working hours are from 4 p.m. to 12 p.m. (during winter) / 6 p.m. to 2 a.m. (during summer).
- All outputs will be saved on the shared Dropbox folder as well.
- Along with outputs, we will let you know by email about some decisions we made, ask you for some clarifications and additional documents if required (based on the lender checklist).
- We will give you advice based on our experience and let you know if there are any documents that you didn't provide but the lender will ask for (not necessarily noted on lender checklist).
- You need to respond to our questions by email.
- You need to send us signed documents required for submission by email, or you can upload them to Dropbox and let us know by email.
- Let us know if there are some documents that you don't want us to send to the Lender or some other documents outside lender checklist that you would like us to provide to the Lender.
- We will check all your answers and additional docs received and complete/amend the application.
- We will check the signed pages provided and let you know if they are not acceptable to the lender for some reason or if there are some signatures missing.
- Once you provide all signature pages and answers to our queries we will submit the file the same day.
- After receiving Lender reference number, we will send bank file to the Lender or upload it to Apply Online (depends of the lender), and send you a copy of it.
- After submission, we will upload all supporting documents and NCCP documents to your CRM to help you stay compliant.