Roger Ward wins MFAA award

We are proud to announce that Roger Ward from Cairns Mortgage Brokers won the Qld MFAA Regional Broker of the Year 2017 at last week's awards.

This was the second year in a row that Roger has won this category. What an achievement!

David Stewart, QLD State Manager for Vow, said, "Roger is a passionate advocate for the broking industry and really believes in the value of what we do. He also has a strong presence in his local community of Cairns, particularly in helping women who have been affected by domestic violence. Roger's success comes from a combination of experience, commitment and a genuine desire to help his clients and community."

Roger was also a finalist in Community Champion and Residential Broker of the Year awards.

New appointment in Vow Compliance

Peter will work with the Compliance Team to add to the knowledge base that already exists within the team. His primary role is to identify training opportunities within the network from recently completed audits, and work with individuals to add to their skill set and understand the importance of meeting our responsibilities within a compliance context.

Most recently, Peter has worked as a Relationship Manager in Group Lending & brings a strong understanding of the Lending Framework advisers work within.

Prior to joining Resi / Group Lending 2 years ago, he has 20+yrs Lending / Underwriting experience with several large lenders (CBA/ St George/ Pepper) & Genworth as an LMI Underwriter.

Please join us in welcoming Peter to the team!

A tale of two brokers: why compliance matters

Broker 1. Passes with flying colours, business and future intact

Broker 2. Doubtful process and no verifications - likely fail and business future in doubt.

On the same day this week, Vow and a funder jointly reviewed the operation of two brokers aggregating under Vow. One passed the review with flying colours and the other failed on nearly all points. The first broker was a credit representative of Vow and the second held an Australian Credit Licence.

Broker 1. Had attended our compliance workshops annually and webinars and was completely up to date on broker protections and the latest trends in compliance and process. Her clear answers to every potential concern were great to witness and validated our training regime. Where a potential fraud was queried the broker had our clear process of verification and notes. This broker walked out of the meeting with her reputation and business intact.

Broker 2. Held her own credit licence and had attended no training or compliance updates. This broker made just about every mistake possible. i) All applications at or below HEM. ii) No evidence of enquiry into client expenses. iii) No verification process for PAYG client who provided fraudulent payslips. iv) ID unreadable. v) No Veda check on commitments. This broker walked out of the meeting and has now lost her accreditation with that funder, putting her business future in doubt.

With this example in mind we take this opportunity to invite all holders of Australian Credit Licences to our Compliance workshops, where the latest market trends in fraud, broker issues and funder/ regulator requirements are covered. Our focus is to provide our broker clients with the tools to protect their reputation and business.

We encourage everyone to come along to our upcoming workshops - they are an engaging and informative way to get on top of the issues and earn 3 CPE points.

Commercial & Motor Niches

As you diversify your lending services, it's useful to know who you can turn to for niche lending in commercial and motor vehicle financing. Speak to the team at Liberty about your next scenario, and you may be able to turn a potential no into a yes.

Niches in Commercial

  • Flexible assessment process and generous servicing criteria at 1.25x ICR
  • Serviceability - Liberty rate plus 2% on Liberty Loan and actual repayments on outside debts regardless of I/O or P&I
  • Unlimited cash out and debt consolidation policy
  • No penalty for minor credit impairment
  • Set and forget facilities. No annual reviews or revaluations
  • Will consider specialised securities (i.e. motels, pubs, service stations, childcare , adult entertainment, etc)
  • Will consider regional and rural locations
  • All credit profiles considered
  • 30 year terms available for Owner Occupied & Investment for low doc commercial applications
  • One day ABN's on our low docs
  • No claw backs on all our commercial loans
  • Asset loans available.

Niches Motor Vehicle

  • 20 years End of Term vehicles (all risk grades)
  • Ex Bankrupts - Discharge from day 1 (Part 9) and 6 months (Part 10)
  • Multiple Credit enquiries
  • $5,000 minimum lend
  • System Approval and 1 hour Settlements.
  • Paid and Unpaid defaults
  • 7 year Commercial Loans
  • 150% of auto edge retail value (assets aged 0-9 Years of age) and 150% average value (assets aged 10-18 years of age) - 2 year min lend
  • Simple and easy Private sale & Refinance verification process

To ask about a scenario, please get in touch with John Ewens at Liberty , his contact number is 0434 338 520.

Liberty Lender Update

Please find attached our new Prime and Custom Introducer Guides along with a Lender Update regarding Interest Only loans.

Please update your systems and notify your members accordingly.

If you wish to discuss further please feel free to contract or 03 8635 8882.




AFM Product & Fee update

With a new financial year ahead, AFM are revamping the product suite to make it easier for our brokers to follow.

From Saturday 1st July we will be renaming our Product Suite as follows;

Old Name

New Name

Complete Option / Alliance Option


Flexible Option


Alternate Option


Secure Option / Secure Specialist


A full breakdown of names is attached along with updated product specs and documents.

The renamed rate sheet is being worked on at the moment and we will send through over the coming days.

Previously with the Complete & Alliance options there were two different commission structures. Going forward we will only have the one product 'Advance' with a standard commission structure of 0.70% Upfront & 0.15% Trail.

Should brokers want the different structure, it will be available however they will just need to contact their business manager on a deal by deal basis - this is a very limited amount based on previous settlements.

Please do not put this one in your broker news/communications. We will be sending out marketing to the network next week!

We understand this only gives you a week and a half to get platforms updated so may go past our 1st July release date however as close as possible would be appreciated!

If you require further details, please contact Stevie Munro on


Please note change in Alternate Prime fee structure.

Settlement fee of $499 now excludes valuation fee of $302.50.

Updated Product Specs attached.

This is effective as of 22 June 2017



Tax-time write-off runs out soon

With 30th June fast approaching, you may have SME clients keen to take advantage of the $20,000 instant asset write-off, to purchase business equipment . Don't forget that Vow Financial provides you two unique options of expert advice.

  1. Call our leasing team on 1300 889 928 for guidance.
  2. Contact our leasing experts in each state (see attached brochure).

With interest rates so low, we are seeing a big spike in the number of borrowers upgrading their work vehicles and equipment.

This is helping to drive the strong growth of Vow Financial in the Commercial lending markets, with many brokers diversifying their range of products.

If you would like training in this area, do not hesitate to speak with your Vow State Manager to arrange the next date in your state. I'd also like to take this opportunity to congratulate the brokers who are attending our third annual Commercial Conference in Hobart next month.


Glen Mitchell, Head of Commercial & Leasing

Vow Compliance Workshop (Sydney) - Wednesday 28th of June 2017

Dear broker partner,

You are cordially invited to attend a 3 hour Compliance Workshop facilitated by Stephen Wormald (Compliance Mgr - Vow Financial). The compliance workshop will be examining current market influences impacting brokers and what we are doing to ensure businesses succeed and prosper in a demanding market.

Workshop details:

  • Date: Wednesday 28th of June 2017
  • Time: 10.00am - 1.00pm
  • Venue: Level 11, 1 Chifley Square, Sydney, NSW 2000 (next to Sofitel Hotel)
  • CPD points: 3 MFAA/FBAA

RSVP required by Friday 23rd of June 2017