MA Money lending policy gives self-employed borrowers Full Doc and Alt Doc residential routes, with credit conduct deciding the suitable product tier. Start your broker-pay record with the exact facility and commission agreement, then match the refinance to the income evidence and security. An Alt Doc income route does not, by itself, establish commission eligibility.
Payment Basis and Trail Eligibility
For an MA Money residential file, keep the upfront entitlement separate from the ongoing trail calculation. Record the applicable product, drawn balance and commission rate from your aggregator agreement. Retain the GST treatment beside each rate so a gross payment is not compared with an expected amount excluding GST.
The Mortgage and Finance Association of Australia’s remuneration explanation describes upfront and trail calculations that exclude offset funds. It also describes trail on performing loans. Those general principles help you identify the figures to reconcile. Your MA Money facility’s payment terms determine the actual balance treatment and arrears conditions.
Compare each payment with the loan balance and offset balance for its calculation period. A principal repayment reduces the outstanding debt. An offset deposit leaves the debt outstanding while reducing the net balance where the agreement deducts offsets. Keep a non-performing account separate from a discharge when investigating a stopped payment.
Track My Trail’s Clawback Risk lists loans inside their clawback period with the upfront at stake and days remaining under the relevant rules. Use that exposure record alongside the payment terms retained for the MA Money loan.
Recovery, Refinance and Top-Ups
Trace any MA Money recovery to the original advance and its commission payment. Keep the initial advance date, amount paid and subsequent loan event together. Apply the recovery terms belonging to that advance, including any product-specific exclusion.
An external refinance pays out the existing lender. An internal restructure changes a facility with the same lender. For a restructure, record whether the original debt continues or a new advance replaces it. A changed account number alone does not show that new upfront is due.
Separate additional funds from the existing balance when recording a top-up. Record the funded amount and its payment reference without treating the entire revised limit as newly advanced money. For fixed and variable splits, reconcile the component balances to the facility total before adding payments together.
For example, a hypothetical $500,000 loan with a $50,000 increase has $50,000 of additional borrowing. Two $275,000 splits still total $550,000. The split does not create another $550,000 advance or establish a second upfront entitlement.
Income Route Selection
MA Money’s residential options include Prime, Near Prime, Near Prime Plus and Specialist. Full Doc and Alt Doc are income-document choices within that range.
For self-employed Full Doc, the public broker page specifies one year’s personal tax return and corresponding notice of assessment, with company or trust returns where applicable. Company directors have a simplified option using three months of salary credits and the latest financial year’s Australian Taxation Office income statement.
Alt Doc requires a declaration of financial position and one supporting route. The choices are an accountant letter, the latest two business activity statements or six months of business bank statements. Choose the evidence that explains the actual trading income and reconcile material differences with the declaration.
MA Money’s Alt Doc assessor guidance asks brokers to explain how the business earns its income. Describe its trading history and any recent changes affecting cash flow. Explain how a high declared income fits the business operations and the borrower’s financial position.
MA Money also publishes Commercial Light Doc and Lease Doc options. Keep those separate from residential Alt Doc when selecting the application route.
Credit Conduct and Applicant Status
MA Money’s public residential summary considers paid defaults totalling up to $500 for Prime. Near Prime accepts up to one month of mortgage arrears within the last six months. Near Prime Plus allows up to two months within that period. Explain the cause and resolution of each adverse event when selecting the tier.
Document each applicant’s residency and income country before choosing ordinary residential, Expat or Non-Resident assessment. MA Money lists separate overseas-borrower routes. A domestic company’s registration does not explain where its directors live or earn their income.
For a company borrower, MA Money’s Broker Notes form asks whether it trades and how it will repay the loan. Explain the benefit to the company. Map each borrower and security owner to the proposed transaction so the assessor can follow the structure.
Security and Purpose Conditions
Assess the security’s postcode category alongside the product’s loan-to-value ratio (LVR). MA Money’s published policy expansion allows Prime Full Doc and Alt Doc loans up to $5 million at 80% LVR. That product limit does not establish that every property qualifies.
Record the property type and any zoning or title issue for the security assessment. Distinguish a completed property refinance from vacant land or a proposal requiring building works. Describe the works and funding timing before treating the proposal as a completed-security refinance.
For cash-out, explain the exact use and how you calculated the amount. MA Money’s Alt Doc guidance asks how that use benefits the borrower and whether professional advice supports it. Attach evidence that connects the requested funds to the stated purpose.
MA Money’s public product page excludes Australian Taxation Office and private-loan debt consolidation from Prime. Identify each debt being repaid before selecting that tier. Keep the payout amounts separate from any extra cash released to the borrower.
Submission Documents and Exceptions
Build the MA Money submission around the selected income route. Put the supporting income evidence beside your calculation, then explain how the proposed refinance changes the borrower’s debt commitments. Reconcile the requested amount to payouts and any additional funds.
Add a security summary with its postcode category and valuation evidence. MA Money’s Broker Notes form asks applicants aged 50 or over for an exit strategy. Where a proposed sale supports that strategy, include the expected proceeds and remaining funds, with evidence of asset ownership.
For a policy exception, identify the exact departure and the evidence supporting it. A useful request states the proposed product, the unmet condition and the reason the file still supports repayment. Retain the written credit response with its conditions before relying on the exception.
Use the MA Money broker support guide for access and support details, or the lender policy directory for another lender’s assessment route. For this refinance, submit the evidence that supports the chosen MA Money route and tie each requested exception to a written decision.
