C.16 Compliance - Loan Recommendation

June 14, 2018

Broker Tools - Loan Recommendation

 

Loan Recommendation Reasoning

Brokers need to ask; how reasonable you were in arriving at the loan product you recommended for the client and how have you recorded it. This information should be recorded in the Advice Comments section in the Broker Tools Compliance Section.

SOCA - These two fields are part of the SOCA MailMerge document

 

The Loan Recommendation Document 

This document can be created within VowNet. It should be sent to client prior to submitting the loan and is a separate document to the Credit Quote & Proposal. It includes the following section:

  • Proposed Security

  • Product Comparison - 3 or 4 products

  • Recommended Product

  • Recommended Reasons

  • Funding Worksheet

  • Fact Sheets & Glossary

GREEN TICK - you will need to create or download a Loan Recommendation or Loan Scenario document into VowNet in order to obtain a Green Tick.

 HINT - Remember to add the SALES DOCUMENT Label to these documents

 

 

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