Setting up Frequent Lenders
Broker users can set up "Frequent" lenders, which will be displayed above the other lenders in the result lists. The idea is that broker users can view these lenders above others in Quick Tools. These lenders will be visible by the different card colour (light yellow).
Frequent lenders are set up under my Accreditations:
Accessing Quick Tools
Quick Tools are streamlined broker tools that allow users to quickly generate quotes for funding, products, and refinance benefits for their clients.
Quick Tools for Home Loans can be accessed from the main left sidebar menu.
Combine Quick Tool
While users can access individual quick tools described below, the best use case is to use the Combine Quick Tool. It allows easy navigation between Maximum Borrowing, Funding Sheet, Product Comparison and Refinance Analysis in one tool and their completion in one go.
To access the Combine Quick Tool click the 'Add new' button and choose 'Combine Quick Tool ' from the dropdown list.
Combined Quick Tool screen has several sections:
Tabs
Scenario name
Parameter change field
Lenders
Inputs
Results
Save/Navigation Buttons
Combine quick tool is designed for fast completion and reduced number of clicks and data entry fields. As a result, some sections have predefined entries which can be modified if users require to do so.
Getting servicing results
First applicant field is automatically added. If more applicants are needed just click on 'Add applicant' button. At this stage only first names are required. Full information can be added when creating a new deal out of saved scenario.
Note: Adding existin g applicant with previously settled information will add their income, expenses, assets and liabilities (if saved).
Add new or existing security by clicking on 'Add security' button and selecting a relevant option. In case of refinance, security will be added in the Assets & Liability section below, with existing loan details still needing to be added.
Once security is added, some information will be pre-populated, adjust accordingly:
Entering security value will automatically add loan amount at 80% LVR. Adjust loan amount or LVR if required:
Click on Add income button to add relevant employment type and income and repeat for all applicants:
Add income values, click on 'eye' icon to expand for other income types:
At this stage servicing results will appear, and the lender list can be expanded to see the full servicing information:
Note that both input form and the result page can be separately scrolled.
Broker users can filter Frequent lenders only by clicking the star icon next to the lender selection field:
Add household details and expenses. To enter detailed expenses, click on the eye icon:
Add Assets and Liabilitis:
Liabilities, such as Credit Cards can be excluded from calculations to show customers the effect of removing these on the loan servicing. In addition a reduced limit function can show effect of lower credit card limit on new loan servicing:
To see servicing results for different lender products, choose Basic, Standard or Package from the Product type dropdown:
Click on side menu to download calculator and view lender policy notes related to the scenario. Additionally, remove lender from results if required:
Click on 'Edit rates' button to adjust rates (eg. add custom discounts):
Calculating funding position
Information entered in Maximum Borrowing tab and some assumed values will be automatically selected in the Funding worksheet tab, adjust as required:
Enter values for savings and other funds to calculate funding position:
Comparing products
Product search information will be automatically populated from Maximum borrowing and Funding worksheet tabs. Select lenders you wish to display, adjust search parameters if required and click search:
Select lenders you wish to compare and click 'Show compare products'
Click on one lender to recommend:
Downloading documents
Use Quick actions to:
Create a new deal from saved scenario
Download document for each separate quick tool
To download documents, go to Quick actions and select the specific document that requires downloading:
Create Deal
To create a new deal from the Maximum borrowing quick tool, click on Quick Actions > Create New Deal and select the destination workflow.
Complete any missing information and click "Save" button.
System will automatically assign a deal label "QT" to show deals that were created from Quick Tools.
While users can access individual quick tools described below, the best use case is to complete the Combined Quick Tool.
See Combine Quick Tool in action in this short video:
Maximum Borrowing
To access the Maximum Borrowing quick tool, click the 'Add new' button and choose 'Maximum borrowing' from the dropdown list.
Inputs
Add a 'Scenario name' and add existing or a new client by clicking on 'Add applicant' button:
For new clients, please add the first name as a minimum. Other details can be added when creating a new deal from servicing scenario.
To test a possible future rate change, enter a figure in the 'Rate change' field (negative for reduced rate and positive for increased rate). This will apply the rate change to all lenders in the result.
Next, expand each sub-section under the 'Applicants' section, and click 'Add' button underneath it to add details for each applicant.
Income, Expenses, Security and New Loan details are required for results.
By clicking on the 'Eye icon', additional fields are shown which could be used for more accurate servicing calculation.
After entering all the necessary client information, choose either all lenders or your preferred ones from the 'Lenders' drop-down menu.
When finished with the data input, click the bottom 'Save' button.
Results
Throughout the input process system will update the calculations, showing how many lenders on the panel are returning outputs.
Results will show maximum borrowing amount (green if within required parameters); net surplus, DTI, NSR and policy summary for the inputs.
The option to edit the rates of each lender individually, like applying a known discount, click the 'Edit rates' button.
Quick Actions
From the 'Quick Actions' button you can:
Create a new deal from the inputs
Download the inputs and results as a PDF document
Create Deal
To create a new deal from the Maximum borrowing quick tool, click on Quick Actions > Create New Deal and select the destination workflow.
Complete any missing information and click "Save" button.
Scenario information transferred to the new deal will include all completed personal information, income, expenses, assets & liabilities, security information and loan parameters.
Download Document
To save this scenario as a PDF file, click on 'Quick Actions' button and choose 'Download Document'.
This will download the document to your designated download folder.
Product Comparison
To access the 'Product Comparison' quick tool, go to Quick Tools > Home loan > 'Add new' and select 'Product comparison' from the dropdown list.
Search Inputs
Add scenario name, select all or individual lenders and input your search criteria.
Then click "Search" button.
Red fields are mandatory to obtain result.
Search Results
Selecting Products for Comparison
The system will display products in a list.
Click '+' icon to select the product for comparison or 'arrow' icon to see product details.
Up to 4 products can be selected for comparison.
In the 'Product Comparison' feature of Quick Tools, you cannot add the same product multiple times for comparison.
Show Compare Products
Clicking the 'Show Compared Products' button will take you to the detailed comparison page, where you can analyse the options, edit the rates and fees and pick the recommended option.
In case you wish to go back to product search page and pick different products for comparison, click the 'Edit Inputs' button.
Download Document
To download the product comparison document as a PDF file to your device, click the 'Download document' button.
The document will be downloaded to your designated download folder.
Refinance Analysis
Input & Results
To access the 'Refinance Analysis' quick tool, go to Quick Tools > Home loan > 'Add new' button and select Refinance analysis from the dropdown list.
Complete the 'Scenario Name', 'Existing Liability' and 'Proposed Loans' sections as minimum to calculate the 'Refinance Benefit'.
Download Document
To download the refinance analysis document as a PDF file to your device, click 'Download Document' button.
The document will be downloaded to your designated download folder.
Funding Worksheet
To access the 'Funding Worksheet' quick tool, go to Quick Tools > Home loan > 'Add new' button and select 'Funding Worksheet' from the dropdown list.
Inputs
Funds Required
Complete the 'Scenario name' and all required fields marked in red.
Additional securities can be added with the 'Add security' button.
Funds Available
Add details such as proposed loan amount, deposit and/or savings.
The system will calculate base and total LVR %, Stamp duty, Land transfer fees and mortgage registration fees.
Values that have the 'Edit' checkbox next to them, can be edited.
If First Home Buyer box is ticked, stamp duty will be $0
If LVR is between 80% and 95%, LMI will be calculated.
At the bottom of the page, in the 'Total Funds' section, surplus will be marked in green and deficit in red.
Download Document
To download the funding worksheet document click 'Download document' button.
The document will be downloaded to your designated download folder.