Have you heard about our Flexi Options new Rate?

Have you heard about our Flexi Options new Rate?

  • 3.39% O/O P & I Variable or 3.49% Fixed for 3 years
  • Investment starting at 3.74%
  • Investment I/O Fixed 3 years at 4.14% with offset account options.

If you have any applications that you think would fit this great product, please let myself know and I will be happy to assist either by email, phone or I can come to your office.

Download Rate Card 01/07/19 Download SME LoDoc Lending


Craig Herden | National Sales Manager | Resi Home Loans
T 1800 737 448 | M 0478 537 841
Mezzanine Level 1 Chifley Square, Sydney NSW 2000
craig.herden@resi.com.au resi.com.au

Suncorp's Ticket to Darwin Competition

The YBR | Vow National Conference will be held in Darwin from 16th to 18th September 2019. The objective of this year's Conference is to be content rich and you will also have time to hear from your peers to become even more successful. This is a conference not to be missed with engaging breakout sessions and an interactive session with the Disney Institute.

Suncorp values brokers as a key intermediary between borrowers and lending business. In recognition of the role you play in making finance solutions accessible to all Australians; Suncorp are giving you the opportunity to win 1 of 2 conference packages*, getting you to Darwin for free. The prize includes:

  • Airfare;
  • Accommodation; and
  • A conference ticket

For your chance of a free ticket to Darwin and the National Conference, Suncorp has partnered with us to develop the Suncorp Learning Plan located within the Professional 2.0 platform. This learning plan consists of short courses tailored to brokers with CPD hours allocated.

Hidden somewhere in the Suncorp Learning Plan will be the codeword "Crocodile". Make sure you take a note of where in the learning plan you found the codeword as you will need it to enter the competition.

Entry into the Suncorp Ticket to Darwin Competition could not be easier. For your chance to win this amazing prize, simply:

  • Log into the Professional 2.0 platform and complete the Suncorp Learning Plan;
  • Find the code word hidden within the learning plan;
  • Conduct a meeting with a Suncorp BDM;
  • Send evidence of your meeting and the location of the code to LandD@ybr.com.au

We look forward to seeing you in Darwin for the YBR | VOW National Conference and Good Luck!

*Terms and Conditions apply

Click here to complete the Suncorp Learning Plan now.

New Vownet Features Available to You!

Best use spotlight: Finance profile

Last week we made some important changes to the Finance profile, which sits under contact (and not Deal).

Finance profile is what can be called a 'master' information, that gets updated as new deal is marked as settled.

We created a best use knowledge article for this feature, which you can read here and watch a short video here.

Important points form the article:

  • Deal Client profile (or Fact Find) is used for a specific deal only and should not be changes once deal settles.
  • Contact Finance profile is used to keep most up to date information and can be used for marketing purposes, client reviews and to import data into a new deal.
  • Recommended process to create a new deal from existing data:
    1. Copy existing deal;
    2. Import additional items form Finance profile.

Additional two new features this week:

  • ID document OCR. Use Optical Character Recognition technology to extract data from the passport (all passports), driver licence (all states and NZ and Medicare card (AU only). This feature is used to reduce data entry time, check information contained on ID docs and to set up client avatar (image) using their passport photo. In the future we will also add ID verification to this feature. Read more here.
  • Automatic transfer of Assets, Liabilities and Insurance to the Contact Finance Profile. Under contact view, master finance profile is now automatically kept up to date to ensure correct marketing and client review information. When deal status is marked as 'Settled' (eg when posting deal to commissions), Contact Finance Profile is updated with relevant information. Read more here.

Next week we are planning to release Outlook mail, Outlook Tasks and Outlook Contacts integrations, alongside Google Drive, Google Contacts and Google Task integrations.

Note that Gmail integration is likely to be delayed indefinitely due to new Google audit regime. Also, Outlook integration refers to Outlook 365 and not to Microsoft Exchange.

Note: These updates is for a limited group of stakeholders/users only.

Code of Banking Practice Financial Abuse Declaration

As an industry, we have been challenged by and successfully negotiated and managed a number of regulatory and compliance headwinds as a united profession over the last year or so. The underlying and fundamental principle of our success is that we behave and conduct ourselves with the integrity and decorum that results in the best and right outcome for the customer.

Recent announcements by several lenders increasing the level of expectation of you, specifically "financial abuse" is a new and challenging headwind. In essence the principle of managing and in fact limiting "financial abuse" is supported and is absolutely the right thing for all to practice, i.e. you carefully consider in each case whether or not to assist in organising finance for customers based on your knowledge of them and ensure you do not put a customer in a financial situation they cannot handle, unfortunately lenders' proposed processes to manage this important principal does not work.

Therefore, the proposed "Code of Banking Practice financial abuse declaration" should not to be executed or signed by you based on:

  • You are not covered by PI if you sign and something goes astray in the future and is specific to the declaration if you have our Group PI and highly probable if you have your own
  • You are not qualified to provide such a declaration

Please note that the industry bodies are in deep discussion with the ABA and we expect to see changes in the process in the very short term.

MFAA response: read here.

FBAA response below:

FBAA advises brokers not to sign banks' financial abuse declaration

The Finance Brokers Association of Australia (FBAA) has demanded that banks walk away from a new requirement that brokers sign a declaration stating they are unaware of borrowers suffering financial abuse, and have advised brokers not to sign any such declaration.

FBAA managing director Peter White says while the association supports moves to prevent people being coerced into a loan, this is a knee-jerk reaction from the banks that requires far more legal and industry consultation.

Noting that the proposed wording hasn't even been widely released, he said, "To try and ram this through with little notice is not only ridiculous and ill-conceived, but creates massive risks for brokers with almost no benefit to borrowers."

Mr White said brokers are not psychologists and the suggestion that they can somehow predict if someone is being wrongly influenced to apply for a loan is foolish.

He also believes brokers would be exposed to legal action both from banks and borrowers, and revealed that professional indemnity (PI) advisers have told him that this declaration would not be covered under existing PI terms for brokers.

"My initial information is that PI insurance could increase tenfold to cover a declaration like this. There are so many issues that have not been considered, and banks must put this aside until these have all been addressed."

He also said that emotional abuse of any kind is a complex subject, and being able to recognise in-depth signs when discussing a mortgage puts far too much pressure on brokers.

"It's absurd to even suggest that finance and mortgage brokers can do a two-hour or two-day course and suddenly be able to analyse people to the point where they can declare there is no financial abuse taking place.

"The banks are attempting to bring a simple solution to what is a serious and complex issue, and I have to question whether this is more about protecting themselves than the public."

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