All right, now it is time for you to update your client's loan status. You can update mortgage products and client's asset status from this section. Click the 'Loans & Products' tab and click the 'Add Loan' button.
In this section you can Add or Edit the finance application that the client is applying for (the new lending facility or edit the existing facility you have entered). Currently there are options for:
If no existing lending facilities exist, when you click on the Loans & Products Tab - a new separate page will open with the following areas for you to complete:
Now that you have had your client discussions and analysis of potential options, you are ready to confirm the client’s selection of lender and product:
Highlight the lender and product by clicking on the selection; the example below shows that we have selected Bankwest on this occasion:
Now that the lender and product have been selected, you must make comments on the reasons why this specific lender and product was chosen in the following categories:
Refer to the examples below for further guidance, note your responses to every clients SOCA will need to be specific to the clients individual needs and requirements. It would be unlikely that all of your SOCAs for all of your clients would be the same
This tab details the commissions payable to the Broker from other supplementary products or services offered (ie Property Referral Programs and other providers that will be available to you in the Services Store in Infynity)
Click on the Add button to add each provider, the product, and the anticipated Upfront Broker Group Commission that you will receive. Refer to the example below:
If you are processing an application for a family member or friend, you must detail this on the Lender Cover Sheet / Broker Notes to Lender Assessor.
It is best practice to also advice via email to the Lender BDM. Note: some lenders do not allow Brokers to process applications for family members.
Referrer fee amount must be detailed in this section - where a payment is being made to another party regardless of the amount for the lead.
Other upfront fees (ie Brokerage Fee) is to be completed and there is a section for you to make notes regarding fees. See the example below:
Your Statement of Customer Assistance (SOCA) is now complete and will be saved in the Client Forms Tab. This tab also has the Credit Quote, if you are charging your clients an upfront brokerage (or other) fee you are still required to have this signed and uploaded in the clients Infynity profile for Compliance