Premium Broker Blog

June 9, 2018

Broker Tools - Advice Comments

It is the role as a responsible lending broker is understand what your clients wants and needs and then recommend the most suitable choice of products you can.  

When you get audited, the auditor will want to see how your r...

June 9, 2018

Broker Tools - Foreseeable Changes

It is the role as a responsible lending broker to understand the clients current and future cashflow. this means you to discuss with your clients if they expect changes in their current situation.  This can include:

When you...

June 8, 2018

Broker Tools - Verifications

How, Where and When did you interview the client. You need to be able to find out this information quickly and easily.  The Verifications Completed section will help you document all these requirements.  

When you get au...

June 7, 2018

Broker Tools - Conflict of Interest

Credit licensees must ensure their customers are not disadvantaged by any conflicts of interest. The easiest way to avoid this happening is by adopting full disclosure.

Examples of Conflict of Interest

  • being related to the applicant


June 5, 2018

Preliminary Assessment

The Preliminary or Written Assessment must be created within 90 days of the credit being completed. However Premium Broker require this document to be created prior to submitting the loan. If the loan is in VowNet it is as simple as creating the d...

June 4, 2018

Statement of Credit Assistance (SOCA)

The Statement of Credit Assistance has replaced the need for 5 documents

1. Credit Proposal

2. Credit Quote

3. Preliminary Assessment

4. Loan Recommendation (Sales Document)
5. Privacy Disclosure (needs to be signed first if a credit ch...

June 3, 2018

Broker's Notes

Broker's Notes are a Premium Broker template that has been designed to help brokers get the loan approved. It is NOT a compliance requirement to send this document to the lender however it is considered best practice.

Each broker has their own way of prese...

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