Track My Trail Team There is no ASIC minimum time a mortgage broker must stay with an aggregator. The stay is the notice period, any initial term and the exit clauses in your written agreement. Before resigning, find out who keeps the trail book. Some mortgage brokers who leave early can still owe an exit fee and can lose … Read more
Send clients a status update on the same day or by the next business day. Record live conditions in the CRM and issue the Credit Assistance Quote before lodgement. These file updates are the core customer service; a gift after settlement is extra. A Net Promoter Score means little when the client still has no … Read more
A mortgage broker’s role in the Australian housing market is to lodge a credit file that fits the client and the lender’s current policy. Best-interests duty still ranks the product, not the pay line. Broker share of new residential lending is high. That share is not a licence to give financial-planning advice. The March 2024 … Read more
Conduct an Australian mortgage consultation by sending the Credit Guide first, completing a fact-find against best-interests duty and issuing a Credit Assistance Quote before you lodge. Treat the meeting as the needs analysis. Approval still waits on the lender. The consultation should rank products by the client’s needs, not by commission. The fact-find still records … Read more
Diversify an Australian mortgage broker practice only into work your credit authority and aggregator accreditation already cover. Add one adjacent line, write the fee or referral method and lodge a test file before you market it. Commercial credit, asset finance and insurance sit on different rules. A residential CL50 does not automatically authorise them. Confirm … Read more
Mortgage underwriting is the lender’s assessment of a home-loan application. The lender checks whether the borrower can repay the loan, whether the information in the application is supported and whether the property is acceptable security. The assessment can be automated, completed by a credit officer or use both methods. A complete application gives the lender … Read more
Manage mortgage broker fees in Australia by writing the live lender grid into the Credit Guide and Credit Assistance Quote, deciding when a borrower fee is lawful and modelling clawback before you lodge. Most residential files pay you through lender commission. Treat older 0.65% to 0.70% plus GST figures as an illustration only. Confirm the … Read more
Write a mortgage broker business plan in Australia as the record of how you will get appointed, lodge files and get paid. A SWOT slide for a bank that will never read it is the wrong document. Write the appointment path, the aggregator, the cash needed before the first trail lands and the file types … Read more
A no-doc loan is a loan approved without the usual evidence of income. For Australian consumer home loans, lenders and brokers must make reasonable inquiries and take reasonable steps to verify a borrower’s financial situation. A borrower who cannot provide standard payslips or recent tax returns will usually need a low-doc or alt-doc loan instead. … Read more
You negotiate with an Australian lender by putting a complete scenario in front of a BDM and asking for a written pricing exception or a policy call. A hallway “can you do better” without serviceability, LVR and a competing live offer usually goes nowhere. The cash-rate target is 4.35% after the 11 August 2026 hold. … Read more