| Introduction to the Australian Mortgage Industry:
History of the Industry;
Licensing and Accreditation;
Mortgage Broker Requirements;
Finance and Real Estate Terminology;
Industry Bodies and Related Organisations.
Legislation and Regulatory Framework:
Uniform Consumer Credit Code (UCCC);
Trade Practices Act;
Code of Banking Practice; Privacy Act;
Commission Disclosure; Comparison Rates;
Code of Conduct (WA only);
Financial Services Reform Act (FSRA);
Financial Transactions Report Act; Occupational Health and Safety (OH&S).
Lending Institutions and Loan Types:
Banks;
Credit Unions;
Building Societies;
Securitised Lenders;
Non-Conforming Lenders;
Owner Occupied Mortgage;
Residential Investment Mortgage;
Bridging Finance;
Residential Business Loans;
Personal Loans;
Commercial Lending;
Deposit Bonds;
Lender Peripherals.
Loan Fundamentals:
What Influences Interest Rates;
Core Lending Products;
Loan Features and Packages;
Risk Management through Insurance;
Negative Gearing.
Lending Fundamentals and Ethics:
The Initial Assessment;
The Eight C’s of Credit;
Employment/Income Considerations;
Qualifying Rates;
Debt Servicing Ratio (DSR);
Net Servicing Ratio (NSR);
Loan to Value Ratio (LVR);
Lender’s Mortgage Insurance (LMI);
Loan Serviceability Calculators;
Statement of Position;
Risks and Mitigants;
Credit Reports;
Non-Resident Lending;
Ethical Considerations.
The Loan Process – From Interview to Settlement:
Client Needs Analysis;
The Application;
Submission and Approval;
Settlement;
Roles of Each Party;
Residential Mortgage Process Diagram;
Record Keeping;
Filing Systems;
Finance Software;
Calculation of Fees;
Commission Payments.
Use of Grants and Concessions:
Stamp Duty and Other Duties;
Miscellaneous Fees;
State-Specific Grants and Concessions.
Understanding Financials and Corporate Entities:
Balance Sheet;
Profit and Loss Statement;
Corporate Entities;
Self-Employed Client and Case Study.
Productivity and Marketing Skills:
Now You Are a Mortgage Broker;
Time Management Strategies;
Goal Setting Techniques;
Effective Communication;
Prospecting for Mortgage Business;
Prospect Enquiry Strategies;
Interviewing Techniques;
Client Retention Program.
|
