Who is Resi Home Loans?

Resi is the prefered Mortgage Manager and specialist lending provider for the VOW Group. Specialised service offering:

  • Multi funder options delivering a wide range of loan solutions for customers
  • Access to several funders who don't credit score.
  • Dedicated Relationship Managers (that have knowledge of funder niches) to assist with credit enquiries and scenarios.
  • Breadth of funding allows us to find a solution for most viable lending situations.
  • Dedicated credit team with delegated credit authorities
  • Customer ownership is always maintained by branch / broker and not the lender
  • Fully Assessed Pre-Approvals
  • Cash out on all products up to 80% LVR

For details about Resi's products, download the Product Highlights that includes information about the:

1. Flexi Options Product.
2. Smartpro Product.
3. Renew & Restart Range.
4. Agility Products.

Product Highlights

MFAA Excellence Awards Now Open

Entries are now open for Australia's most prestigious broker-industry awards, the MFAA Excellence Awards 2019.

The MFAA Excellence Awards celebrate the work of the industry's best brokers, businesses and industry professionals.

There are 22 individual, business and lender award categories to enter or be nominated for and to lodge your vote.

Entries in the MFAA Excellence Awards are judged equally based on excellence and professionalism across all areas of business. They provide an unparalleled opportunity for brokers and businesses of all sizes and experience to be recognised for the quality of their work.

According to past winners and finalists, MFAA Excellence Award recognition can:

  • Win new clients
  • Secure new referral partners
  • Improve loyalty with existing customers
  • Elevate the profile and status of your brand in the eyes of your peers
  • Increase team morale
  • Lift your professional profile and build your reputation.
  • You can vote for your lender of the year, to recognise the lenders that have helped you grow your business and helped turn your clients into life-long customers.

You can also vote for your preferred lenders in the major lender, non-major lender, mutual/specialty lender and fintech lender categories.

And new for 2019, show a deserving broker, business, BDM or loan administrator your support by nominating them for a MFAA Excellence Award.

Your nominee will receive an email on your behalf that encourages them to enter the MFAA Excellence Awards. You can also leave the nominee a testimonial, which they can include in their Excellence Awards entry.

Entries close Monday, 25 February 2019 with state finalists announced early April.

The State Excellence Awards events will be held around Australia, starting in Sydney on 2 May and finishing in Melbourne on 6 June. The National Excellence Awards event will be held in July.

The MFAA Excellence Awards are independently judged and audited by Hall Chadwick.

For more information, to enter, vote or nominate, visit awards.mfaa.com.au

Petition: Save the Mortgage Broker Industry

We are calling on the Prime Minister Scott Morrison and Treasurer Josh Frydenberg to ignore the recommendation made by the Banking Royal Commission to change Mortgage Broker remuneration.

We also call upon the Opposition Leader and Shadow Treasurer to pledge that they will ignore this recommendation, should they win government.

Owning a home is the great Australian dream that has become increasingly out of reach for many Australians in the past decade. The proposed changes to the mortgage broking industry, recommended this week by the Royal Commission, will place that dream even further out of reach for many people.

We ask both the government and opposition to thoroughly consider the implications of enacting the recommendations made regarding the mortgage broking industry, and ensure that the outcome is fair to the average Australian. We support keeping mortgage broking free to consumers, and we support the 'paid-the-same' commission model employed by most brokerages that has ensured impartial decision making for almost 30 years.

We completely reject the assertion by Commissioner Hayne and Matt Comyn, CBA CEO, that trailing commission is "money for nothing".

Mortgage Brokers are available 24/7 to answer clients questions, undertake loan variations, provide support and education, review their loans and make sure they aren't getting ripped off by the banks by negotiating better rates on their behalf, as well as many other services. This is what they receive trailing commission for, and we stress actually provides for better customer outcomes.

Without Mortgage Brokers being constantly being in contact with clients, banks use 'rate creep' to gouge more and more interest from clients due to new and bigger discounts becoming available to NEW clients, while existing clients effectively pay more.

We strongly believe that customers will end up paying more.

Home buyers will be penalised in one of two ways: either they will be unable to afford the proposed fee-for-service structure, resulting in a reduced ability to access the funding that is right for them; or, those that can afford the proposed fee-for-service structure will be forced to absorb significant costs that the banking sector were previously responsible for.

Removing the commission structure that is paid by banks to mortgage brokers is estimated to put billions of dollars back into the Big 4 Banks, while implementing a fee-for-service structure transfers the responsibility of those costs to aspiring property buyers already making the most expensive purchase of their life.

The Royal Commission uncovered misconduct and even criminal activity at some of the highest levels of Australian banking, and yet mortgage brokers and their customers are the key group likely to suffer significant penalties in the wake of the report. Smaller banks without a large branch network who currently rely on brokers to introduce customers will also suffer a significant loss of marketshare.

The Big 4 banks, meanwhile, have had some of their best days on the share market since the report was made publicly available.

Mortgage Brokers are mostly small business owners who potentially could lose their businesses and their staff could lose their jobs.

In almost three decades, the mortgage broking industry has brought competition to the Australian finance market, and today more than half of all home loans in Australia originate with a mortgage broker. If you're part of that statistic, or if you just value choice and competition in the finance sector, please pledge your support for this petition to ensure it is noticed by our Federal Government.

Update: Over 50,000 have signed this petition - that's potentially 50,000 votes for any party or Senator who supports us.


Compliance on Audit Briefing

Following earlier communications, we are in the process of transferring credit audits across to an internal audit team. Both Zee Aboushamat and Phillipa Stephens are the managers of this team and are responsible for any communications related to the audit programme.

We have recently engaged with an external firm called Australian Independent Compliance Solutions (AICS) to assist with the transition. The firm is responsible for managing investigative audits where file anomalies have been identified as well as assisting with the audit programme workload as and when required. In addition, the firm will assist with reviewing governance and compliance structures for larger groups that hold their own Australian Credit Licence (ACL).

The AICS team supports both YBR and Vow and have over 30 years corporate governance experience in the financial services and credit assistance sectors. The team specialise in wealth and credit compliance and have previously worked as authorised representative which allows them to have a commercial and practical approach to compliance. The team is comprised of Cheyenne Walker, Claire Stoker and Evan Holm and they have now completed all necessary agreements including confidentiality.

Vow Professional - how to track CPD

Vow Professional 2.0 was successfully launched on the 2nd Feb with a new and improved CPD functionality and reporting capability aligned to your respective membership association. Making an external claim for CPD hours has been simplified and is a one-click process. This "How to Guide" walks your through the process of making an external CPD Claim for allocation to your CPD Registers.

How to Make a CPD Claim in Professional 2.0

On the 2nd of February you would have received an email contain your unique user name and a token to access the platform. If you have not logged into Vow Professional yet and need assistance, please reach out to the Learning and Development team landd@vow.com.au.