Microsoft Word - FNS40811_Assignment 1_Att1_AddSheets.doc FNS40815 CERTIFICATE IV IN FINANCE AND MORTGAGE BROKING – ASSESSMENT TASKS © Copyright 2015, The National Finance Institute V.010715 The...

Using the information contained in the Scenario below, please complete the following 6 tasks. Youmust complete each task in order for your submission to be assessed. Omission of any of these 6 taskswill be regarded as Working Towards Competency and you will then be required to resubmit in full.


Microsoft Word - FNS40811_Assignment 1_Att1_AddSheets.doc FNS40815 CERTIFICATE IV IN FINANCE AND MORTGAGE BROKING – ASSESSMENT TASKS © Copyright 2015, The National Finance Institute V.010715 The following forms should be used for Assignment 1 – Question 6. When completing the Loan Application Cover Sheet, trainees with an existing company/employer are permitted to follow the Cover Sheet format specified by their company/employer. For trainees who do not have an existing company/employer cover sheet template available, please use the Loan Application Cover Sheet provided in this group of forms. FNS40815 CERTIFICATE IV IN FINANCE AND MORTGAGE BROKING – ASSESSMENT TASKS © Copyright 2015, The National Finance Institute V.010715 Lending Checklist The following list can be used as your Checklist of necessary documentation. Brokers may care to develop a simpler form from some of the headings below to fax or email to their clients to collect information. Other documentation may be required by some lenders, based on unusual circumstances by the applicant. Continued Overleaf … Yes No N/A 1. This Loan Summary Checklist 2. Loan Submission (commission breakdown etc.) 3. NSR Serviceability worksheet 4. Loan Application Form 5. Privacy Act Consent Form 6. Declaration of Purpose 7. Joint Nomination Form 8. Loan Interview Diary Note 9. 100 Point ID Checklist 10. Acknowledgement and Disclosure Form 11. Evidence of Income A. PAYG Income Documentation (minimum 2 forms) EITHER 3 Pay Slips covering the 3 preceding months, with one being within the past four weeks preferably confirming at least three months YTD (consistent with annual income), OR  Last 2 years’ Tax Return accompanied by an ATO Assessment Notice, OR  Group Certificates / PAYG Payment Summary (not handwritten), OR  PAYG Payment Summary (if handwritten) accompanied by an ATO assessment Notice Signed and dated letter from employer on employer’s letterhead with ACN/ABN confirming full or part-time employment and annual gross income B. Self Employed Proof of ABN where required for the minimum term Applicant’s last 2 years personal tax returns and ATO Assessment Notice Business’ last 2 years Tax return and Full Financial Statements (when required) FNS40815 CERTIFICATE IV IN FINANCE AND MORTGAGE BROKING – ASSESSMENT TASKS © Copyright 2015, The National Finance Institute V.010715 Supplementary documentation Yes No NA 12. Are TFNs removed from all financial documentation? 13. Copy of valuation / valuation request LVR % 14. Copy of front page of contract of sale 15. Copy of Offer & Acceptance – purchase / sale 16. Title details (lot/folio/etc.), plans/specs and/or building contract for construction 17 Evidence of funds to complete (deposit / genuine savings / equity) 18 Proof of genuine savings (as above) evidenced by bank statements over the last 6 months (minimum) 19. Is the FHOG forming part of this loan application? 20. Copies of most recent 6 months bank statements of all loans refinanced 21. Copies of insurance policies ie. current house and contents insurance policy and any life insurance policies 22. Copies of proof of other investments ie. Superannuation statements, share certificates and/or managed investment statements 23. Is suitable documentation held on file to support other income? (eg. Centrelink/Child support/Dividends/Family Trust disbursements) 24. Has sufficient proof of current rental income been provided by way of Rental Statements, Valuation, Current Lease Agreements, Tax Returns? 25. Council Rates and Water Rates Notices for the property being offered as security on a refinance 27. Declaration The correctness of these documents is the responsibility of the person signing this Lending Checklist Submitted by: Signature: Date 26. Additional supporting comments FNS40815 CERTIFICATE IV IN FINANCE AND MORTGAGE BROKING – ASSESSMENT TASKS © Copyright 2015, The National Finance Institute V.010715 Summary of Product Choice Detail any comments regarding the home loan products discussed: ....................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... PRODUCT SELECTED Lender: ....................................................................................................... Loan Product: ....................................................................................................... Loan Amount $ ..................................................... Loan Term ........................ If Line of Credit Cap $…………………………….. Interest Type  Variable ………..%  Fixed ………..% ..….. yrs Repayment Type  Principle and Interest  Interest only Repayment choice  Monthly $……..………………..pm  F/nightly $………………..pf/n Redraw Facility  Yes  No Maximum $……………… Minimum $..……………… Extra Repayments  Yes  No Comment . ............................................................ FEES: Establishment Fee ............................................................................................... Discharge Fee ............................................................................................... Redraw Fee .......................