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Vaulting Product Switches/Variation (with no additional borrowings)

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What to vault?

Item 1 and 2 are mandatory, item 3 applies only where additional documents exist.

  1. The BID document:

- Your Loan Choices - must be completed if credit assistance is provided

- Customer Charter and Credit Guide - must be provided to customers, unless one is given in the last 12 months

2.  The NCCP documents (CA file) - Manual Preliminary Assessment (PA) - Variation/Switches and Loan Cost Comparison (if required – refer to Responsible Lending Document Matrix for more details).

3.   The Loan File (LF file) - including any other documents provided to the lender in relation to the switch/variation, if any.

How to vault?

For existing clients of franchise:

  1. Open one of existing scenario for the client(s) and go to the Documents tab
  2. Click the 'Add File' button
  3. Select the "Your Loan Choices" document type to vault the Loan Choices document (if completed)
  4. Locate the Loan Choices in your computer and attach it
  5. Click the Save button
    mceclip0.png
  6. Repeat step 3-5 for Customer Charter, Credit Assessment and Loan File (if any) document type
  7. Click on the "Select and Print Documents" icon

For new clients of franchise: 

  1. Create the clients' record and Opportunity
  2. Create scenario using "Manual Application" or paper iconManual App.png

    The paper icon will appear in front of the scenario name when the scenario is created. This enables you to easily differentiate between standard scenario and manual application scenario.
    mceclip2.png

    A brief instruction can also be found by clicking the paper icon.
    mceclip3.png

    Please complete the following tabs:

    • "Applicants" - to capture the applicants' details
    • “Transactions” – to capture the purpose and loan details
    • “Structure” – to capture the repayment type.
    • “Analyse” - to shortlist the lender and product 
    • “Recommend” – to recommend and select the product
    • "Apply" - Select “Manual Application” from the “Submit scenario as application” drop down. Update the milestones as per usual
  3. Go to the Documents tab to vault documents
  4. Click the "Add File" button
  5. Select the "Your Loan Choices" document type to vault the Loan Choices document (if completed)
  6. Locate the Loan Choices in your computer and attach it
  7. Click on the Save button. 
    mceclip1.png
  8. Repeat step 4-7 to vault the Customer Charter, Credit Assessment and Loan File (if any). 
    If no supporting documents were obtained, complete an NCCP Exempt Certificate. Select "Other" and note why there is no supporting. 

         

 

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