Edition 30

Broker Support unit process over 14,700 loan applications

The Broker Support Unit know that whether you’re a one-man band or have a team behind you, once you get the nod from the client to go ahead with the loan, you’re on a mission to get it processed as quickly as possible, so you can get back to them with the good news of approval.

The Loan Market back office support program offers you a dedicated support officer so you can be as efficient as possible. Since the unit launched three years ago the team have:

  • Grown the unit from 4 support officers to 20
  • Introduced Settlement services that helped our brokers with an end-to-end process
  • Worked with 370 Loan Market brokers and counting
  • Processed over 14,700 loan applications
  • Clocked up over 19,000 hours of back office support

The Broker Support Unit help over a third of our brokers and can assist you with a number of areas of your business, including:

  • Turning around files in as little as two hours
  • Data entry into your CRM
  • Loan lodgement and tracking
  • Submission of supporting documents
  • Ordering valuations
  • Raising pricing requests
  • Generating compliance documents
  • Coordinating settlement

If you would like to know more or sign up for the program just contact Jenny or Carla at brokersupport@loanmarket.com.au

New podcast! Compliance Corner

In April we launched Compliance Corner, a podcast that explores the ever-evolving world of compliance. The 8-part series tackles the tough topics in an easy to digest and conversational way. Your host speaks with industry experts and shares case studies so you have examples to take back to your business.

Missed an episode? Listen to them all here, and keep an eye out for the next episodes dropping Wednesday and Friday

Episode 1: All eyes on the Royal Commission with Sam White
Episode 2: The evolution of NCCP
Episode 3:Is HEMs a dirty word?
Episode 4: Referral Relationships under the spotlight

Every episode is available on SoundCloud and Springboard so you can learn on the go!

Why would you use a typewriter if you have a laptop?

Kiah Foster, Loan Market’s learning and development coordinator interviews Carmine Rauseo from the Northern Territory about how he implemented MyCRM into his business, his challenges, results and why he loves the system so much.

Carmine Rauseo had this to say about MyCRM:

“To be honest, now that we have made the move and we have been using the system for a couple of months I think it’s crazy for anyone to be using symmetry while MyCRM is available… it feels like a modern and up-to-date system with everything consolidated in one spot and it is definitely much more efficient and user friendly.”

Haven’t made the change yet? Or are you holding off on the switch? Listen to the interview here.

How to keep your real estate agent coming back for more!

Let's talk auctions, listing presentations and bringing the deals together. Josh Bartlett, number one broker for Loan Market Australia, is one of the best when it comes to working with real estate agents. But how does he educate them on what brokers actually do and how that helps them list and sell more property?

Check out Josh live in action training agents on the process. Watch here

Lender Weather Update: Episode 23 (19 APR)

Did you know that La Trobe Financial can payout ATO debt? Kiah Foster, Loan Market’s learning and development coordinator explains. She also runs through some current offers with Suncorp, a full update on ING and chats to special guest Stacey Moseley, Head of PR and Communications about the ‘Compliance Corner' podcast series on Springboard.

Watch here!

#craphousewife Jessica Rowe to headline Leading Ladies

Just last month Jessica Rowe emotionally departed popular morning show, Studio 10 after five years as a co-host, sighting family reasons.

The accomplished journalist and three-time bestselling author has always spoken openly about the pressures women face to juggle it all. From those pressures sprouted her popular #craphousewife movement, where Jess publicly celebrates her mum-misadventures and failures

In Is this My Beautiful Life? Jessica asks her audience to go easy on themselves, to accept life's imperfections and cherish our moments of joy, oh and shares some of her #craphousewife stories.

Don’t miss Jess’ inspirational story. Tickets are limited, secure your spot for Loan Market's Leading Ladies Summit today. Click here

Guns, GST and George W Bush

He has been lauded internationally for his stand on gun control following the Port Arthur massacre. He influenced major economic reform after backflipping on his decision to introduce the GST, he was once described by George W Bush as “a man of steel”, and just this week he caused a stir in the media for calling for the liberal party to “get their act together.”

He is the nation’s second-longest serving Prime Minister and was a member of Parliament for over 30 years and now we announce John Howard will be our next Connect 2018 keynote speaker.

Do not miss the opportunity to see the man behind the eyebrows! Register today!

Axsesstoday joins the Loan Market Panel

Axsesstoday is a leader in equipment finance in the transport commercial sector.

Partnering with Axsesstoday will assist you to help your clients equip their business for success. Affordable finance solutions provides fairer, easier and faster finance for your clients.

Some of the key benefits to your clients include:

  • $0 Upfront costs, no monthly fees or inertia payments
  • Finance available to NEW ABN holders
  • Asset finance and business loan options
  • Aged assets up to 20 years from application date
  • Minimal documentation required
  • Up to $500K without property backing
  • Flexible term options of 48-60 months with the option to purchase at the end of each 12 month period

Some of the key benefits to you as a broker include:

  • Fast and easy to use online portal for applications
  • You own the relationship with the customer
  • Risk adjusted pricing to ensure all your customers get the most competitive rate

Axsesstoday are proud to be partnering with Loan Market and its team of valued brokers. If you would like to become accredited please contact:

Nathan Evans
0438 461 710

Prime Capital join the Loan Market Panel

For over 20 years, Prime Capital have been meeting the needs of thousands of SME’s by providing them with funding solutions and now they join the Loan Market panel.

Prime Capital is a specialist lender, with products for any application which requires a specialist approach to assessing serviceability.

The self-employed and small business market is growing rapidly, and it’s often difficult for these clients to ‘fit’ within standard servicing models. For loans between $250,000 and $10 million, Prime Capital is able to take a specialist approach to servicing calculations and customised loan approvals.

Prime Capital also brings a new option to our lender panel with loan approvals provided within 24 hours and settlements possible in only 5 business days.

The team at Prime Capital look forward to assisting many more Loan Market brokers and clients with fast, simple loan approvals and settlements”.

Product training and dedicated BDM support contact details will be forwarded to you shortly. In the meantime, if you want early access to information and product specifications, please contact: info@primecapital.com or call 1300 766 075 or visit www.primecapital.com.au

Only 2 months left to sort your new broker photo

Don’t wait until the last minute to refresh your photos. Your state administrators are organising photoshoots for brokers over the next couple of months. Contact them for more information to book yours in.

Or you can also arrange your own shoot but remember to follow the guidelines and send a test proof to the marketing team for approval before your shoot. We want to ensure your broker image makes you look like the professional you are!

The test proof doesn't have to be of you, it can be of anyone the photographer has quick access to. The purpose of the test shoot is to make sure the photographer follows the guidelines and gets the lighting and shadow right.

We can’t wait to see your new photos!

Please send test proofs and final photos to: marketing@loanmarket.com.au

See the new photography guidelines here!

How to send leads to Wealth Market in MyCRM

It’s easy to send leads to your Wealth Market financial planner via MyCRM. We created this short video (only 2 minutes) to show you how. Our Customer Care team will then contact your client within 24hrs to book their appointment with a planner. The video is available here and if you need to watch it again when entering your leads you can find it on Springboard in the Wealth Market and MyCRM Channels.

Our planners look forward to receiving your leads and helping your clients with their protection and other financial advice needs.

Watch the video here

Royal Commission: Letter for your customer

There’s been a lot of commentary in the media lately about the role of a broker and our relationship with banks. Some of you have received questions from your customers about this so the Loan Market marketing team have prepared a customer letter for your use.

We are proud to be a home-grown Australian company - still proudly family owned and led. We have over 40 lenders on our panel, from big banks to small lenders and last year we helped over 21,000 Australians secure finance. We are proud of our business, and we hope you are too when you speak with your customers.

You can use the customer letter in a number of ways; as a script when talking to customers, to mail to your clients or email to your databases.

Download the customer letter here

Broker banned for life for faking client signatures

Obtaining your customer’s signature on all documents should form part of your Responsible Lending process.

This may be sourced from the customer as a manual, hand-written signature, or via a recognised digital signature platform e.g. EsignLive, Docusign, etc. It should be noted however that individual lender requirements vary, and you will both need to comply with our requirements as well as the lender.

Electronic signatures and digital signatures are two different things.

An electronic signature is simply an electronic image of your signature added to an electronic document. The difficulty in using an electronic signature becomes apparent when you need to prove the identity of the party signing as the signature has not been witnessed by another person. There is also the risk that the content of the document could be altered after being signed.

A digital signature is a term applied to describe a type of electronic signature. It utilises technology which encrypts the electronic communication with hidden data to prove that the document came from you. Digital signatures are therefore unique electronic “identities” which make them verifiable and are a secure way of verifying the author of a document.

Given the risk including but not limited to fraud inherent in the usage of electronic signatures, Loan Market endorses digital signature technology.

This endorsement aligns with Loan Market’s ‘zero-tolerance’ policy with regard to management of fraud.

Our Fraud Policy defines fraud as dishonest activity causing actual or potential financial loss to any person or entity, and where deception is used at the time, immediately before or immediately following the activity. This includes the deliberate falsification, concealment, destruction or use of falsified documentation used or intended for use for a normal business purpose or the improper use of information or position for personal financial benefit.

The copying and pasting of customer signatures constitutes fraud and will not be tolerated by Loan Market. We may immediately terminate your Agreement where you engage in fraudulent activity.

Please ensure that you obtain signatures sourced directly from your clients on any documentation requiring customer signatures.

Should you have any questions, please email Compliance on compliance@loanmarket.com.au.