Credit Quote & Proposal
A Credit Quote & Proposal must be provided and signed before submitting anything to a lender. A signed copy must be held by your office prior to submitting the loan.
- The credit quote must be reissued if the loan amount increases or you know the fees have increased.
The Signed copy should then be saved into VowNet as “Signed – PB Credit Quote & Proposal”
The software should calculate the amount of commission you receive. If this is not accurate please amend the amount in the Word document. If this is a recurring problem you can edit the default commission rates in Settings.
LOAN VARIATION - DO I NEED A NEW QUOTE & PROPOSAL
If the bank determines you need to complete a NEW application or you are charinging a fee - then you need to prepare a new Credit Quote & Proposal document. You would also need to do a preliminary assessment in this case. If not - you can just add a File Note
VIDEO - How to change the default commission rates
VIDEO - How to add electronic signatures to your credit quote & proposal.