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 presenting their notes. They are therefore free to edit, change, delete or amend the broker's notes documents as much as they want?
The Benefits of this template are:
Prompt you - to make relevant comments
Pre-loaded with data from VowNet - making it quicker to complete
Prominent Design – and easily seen by credit managers
Professional – Looks better than a one page document
Uniform – As more brokers use it, credit will start looking for it
Review – It is easier to review what you have sent credit
Editable – You are free to change/edit/delete any sections you want