C.27 Compliance - Credit Quote & Proposal

June 4, 2018

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”
 

 

 

COMMISSION DISCLOSURE

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.

 


 

 

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