Resimac - COVID 19 Support

Hardship assistance

As the world continues to tackle the COVID-19 crisis, many of our clients may be feeling the impacts financially. We have recently simplified our process and are endeavouring to assist your clients as much as we can, as efficiently as we can.

In cases where borrowers are approved for a moratorium on their repayments (a repayment holiday), we will continue to pay trail during that period. For most borrowers, this will more than likely be for six months. Please note that these trail arrangements apply where borrowers are approved for genuine hardship, not in those cases where loans fall into genuine arrears.

We are receiving high volumes of requests and our response times are currently longer than normal. Our estimated response time is currently seven business days. We appreciate the stress and anxiety that the current situation is creating and wish to assure you we are working through requests as efficiently as we can.

See below for most efficient means to request Financial Assistance:
Resimac-funded loans: email financialassistance@resimac.com.au
Wholesale partner-funded loans: email client.services@resimac.com.au or click here for more info

Changes to application requirements

Mandatory preliminary assessment required from Monday 30 March
Given recent updates to the Responsible Lending obligations, please note effective from Monday 30 March 2020, your Preliminary Assessment document must be submitted to Resimac as part of the supporting document pack. Full assessment cannot be completed until this has been received. This applies to both new and increase applications.

Updated Supporting Document Checklist
In accordance with the Preliminary Assessment document requirement, we have also updated the Resimac Supporting Document Checklist.

Updated Accountant's Verification Form
We've also recently updated our Accountant's Verification Form to provide greater clarity on what information is required from the accountant. Please note that every question must be completed.

Please be sure to always access forms on BrokerZone to ensure you are using the current version.

If you have any questions, please contact your Business Development Manager or Relationship Management Team.

The Resimac team