Brighten Lender Update

Brighten Going Live on PropertyHub

Brighten is pleased to announce that you are now able to order your Brighten valuations through the CoreLogic PropertyHub. Effective 11 April, valuations must be ordered via PropertyHub.

What is PropertyHub?
CoreLogic's PropertyHub makes it easy to research properties, order valuations and track the progress in a single platform. Over 30,000 brokers and mortgage professionals use this tool to support their customers on their homeownership journeys.

How to access PropertyHub?
To access PropertyHub, please visit https://propertyhub.corelogic.asia/. Alternatively, you can visit the Brighten website, and select 'PropertyHub' under 'Brokers'.

Enter your email address, if you already have an RPP Subscription, you will be diverted directly to the Login page. If you don't have an RPP Subscription, you will be prompted to create a new PropertyHub user profile.

How to order a valuation for Brighten?
After entering in your required property address, you will land on the property information screen. Whether you have an RPP Subscription or not, all PropertyHub users can order property valuations by clicking on the blue 'Order' button.

The next screen will ask you to select which lender you are lodging the valuation request for. If this is your first time ordering a valuation for Brighten, and you haven't gained access within the PropertyHub, you will need to first register, and Brighten's Valuation Team will approve your request in a timely manner.

After entering all of the information through the portal, you will be asked to input your (or your customer's) credit card details to process the valuation order.

After that, you will be presented with the confirmation screen. You will also receive an automated email with the confirmation. To view and access your orders at any time, visit the 'History' tab.

To learn more about PropertyHub's registration and valuation ordering process, please download the full User Guide HERE.

If you have any questions, refer to your Vow Financial BDM.

Prospa Resource and Contact Update 2022

Prospa has updated their contact list, click here for their updated list.

If you have any questions refer to your Vow Financial BDM.

Liberty Business Loans Update

Liberty has recently helped a growing Australian skincare business. Liberty was able to help them secure $1.9m for a purpose-built factory and working capital.

Benefitting from Liberty's participation in the Government SME Recovery Loan Scheme, the customer accessed special rates to aid COVID-19 recovery.

Click HERE to find out more about it and also for information on where to find their updates introducer guide.

For any questions please reach out to your BDM.

Resi Essentials - Near Prime Rate reductions, Alt Doc promotion extended and product enhancements

Resi is excited to announce several enhancements to their fantastic Essentials Product Range, as well as several rate reductions in their Near prime product.

In addition to this, the Resi Essentials Alt Doc Promotion has been extended.

Near Prime Rates Reduced:

Resi's New Near Prime Promotion sees Rates heavily reduced, commencing from 2.99%.

New Rates as follows:

*WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Alt Doc Promotion Extended:

Resi is extending their popular Alt Doc promotion to the end of April 2022.

Risk Fee Promotion details are:

  • Owner Occupied rates commencing at 2.99% (with a single form of income verification) - Max LVR 80%
  • Essentials Options Prime Alt Doc risk fee waived for loans up to 60%
  • Essential Options Prime Alt Doc Risk Fee
  • Carer's income
  • Foreign income (only 80% used in serviceability assessment)

Product and Policy Enhancements:

Resi has also made enhancements to various PRIME and NEAR PRIME Policies and product features.

Those enhancements include:

Prime Product:

  • Expanded their loan purposes e.g. Debt Consolidation (Unlimited number of debts)
  • No Bank Statements are required to verify living expenses unless
    • Declared expenses are lower than HEM
    • Prime Alt Doc or Near Prime loan with NSR below 1.25

Near Prime Product:

Resi will now accept more income streams that can be used for servicing, this includes:

  • Family Tax Benefit for children over 13
  • Compensation income
  • Education income
  • Carer's income
  • Foreign income (only 80% used in serviceability assessment)

Self-employed (Under Near Prime):

  • For Self Employed applicants with ABN registered between 12 and 24 months, Resi only require 1 year of financial statements (no additional Business Activity Statements are required)

Credit Impairment:

  • Resi has expanded and clearly defined the incidences of adverse conduct that can be considered under their near prime product and include:
    • Mortgage Account arrears history considered
    • Non-Mortgage Account Arrears history considered
    • unlimited defaults, judgments & writs up to $2,000
    • unpaid defaults, judgments & writs exceeding $2,000 that are registered for at least 2 years
    • paid defaults, judgments & writs exceeding $2,000 that are registered for at least 1 year (NEW)

To find out more, click here.

If you have any questions, please reach out to your BDM or Broker Support.

Liberty Residential Loans Update

Liberty is making debt consolidation a walk in the park. With their competitive rates and fast turnaround times, they are supporting more customers than ever before.

Click HERE to find out more about it and also for information on where to find their updates introducer guide.

For any questions please reach out to your BDM.

Legal & Compliance: New Credit File Checklist

As part of the YBR Group's continuous improvements to assist brokers in complying with their legislative & policy requirements when providing credit assistance to consumers, the YBR Group has revamped & updated the Credit File Checklist. This checklist provides guidance on the end-to-end process of what documents, disclosures & tasks are required for inclusion & completion of each credit file.

The checklist is a vital resource for all brokers (with any level of experience) wanting to confirm their compliance with legislation & if required, improve on their processes. We strongly recommend you complete the checklist at the completion of a file (settled).

Please find the downloadable Credit File Checklist here.