Understanding Client Needs for Long-Term Loans

This article discusses the benefits of understanding client needs and business for long-term loans. It emphasizes the importance of a knowledgeable technology provider who can become a long-term technology partner.

Certificate IV in Finance
and Mortgage Broking

Part 2
Question 1
Financial advisors and brokers should be able to listen carefully to customers and understand
what they are saying and not doing. This allows you to make recommendations tailored to your
needs. Lack of human abilities makes it more difficult to build good customer relationships and
understand customer needs.
Question 2
Dear Jeff,
We have fixed an appointment with you on next Wednesday. The propose of this meeting is to
discuss on the available options for credit. You are also advised to go through the attached
documents with this mail.
Thank you.
Question 5
Be polite and professional. You can call at the wrong time, so start with a warm greeting and
remember that you represent your company, product, or service. Make sure they aren't you if
they are rude or clinging. You can only control your behavior, language and tone. Also,
sometimes you have to be too kind because it's not a living person, but rather a voice speaking
over the phone.
I have a script I know. You need to get up and running quickly so that you don't bother those
who answer the phone and have no reason to contact you. Prepare for a sales debate and refute
any questions or concerns.
All required information requested by the customer is investigated in advance. In addition,
customer questions are determined in advance.
The key points of the scenario are the client's preferences, financial situation, type of work, age
and any health problems that arise, and the ability to take risks.

Part 3
1 a.
1. Credit policy
2. Terms and conditions
1.b.
This disclosure policy includes a commitment to compliance and reflects the spirit of openness
and justice. Communicate internally to ensure that all senior management is well understood,
applied consistently and communicated to employees on a regular basis.
ISC is committed to effective employee communication and includes referrals of new
employees, annual employee meetings and annual reorganizations, and recognition of the
company's Code of Conduct.
Q1 c.
Ask her if she is familiar with some documents
Q1 d.
Talking to a mortgage broker can save you a lot of time and effort when choosing a mortgage,
especially if your financial situation is not the strongest. If your credit rating is low or you can
only afford low deposits, you can only apply for a limited range of home loan offers. So, instead
of making dozens of inquiries and perhaps dozens of answers, you can use your broker's
expertise and experience to highlight the best loan for your situation, save time and protect your
credit rating.
Mortgages can be complex, and lenders aren't always clear about their requirements for lenders.
Experienced mortgage brokers guide you through the mortgage application process and guide
you through the difficult steps to save time and avoid novice mistakes to increase your chances
of approving your application.
Question 2 a.

This concept focuses on the three pillars of language use: efficiency, empathy, and education.
This is a technique I use well when I become a mortgage broker. Effectiveness indicates whether
the customer understood the intended meaning, and the relevance depends on the context.
Empathy is also a useful tool in business relationships. Understanding what your customers come
from and what your motives are, you can achieve better results for both. In academic discourse
about communication skills, linguists often cite cognitive complexity. It's an idea to recognize
how external factors like mood and physical health can affect the way people communicate.
Education: Mortgage information is useful in many ways. When a customer is ready to sit down
with you and consider his financial options, it will be fairly easy to assume that he already has a
solid understanding of financial jargon. Some customers are coming! That's not always the case,
so be prepared to explain the terms. As industry experts, clients rely on their knowledge to
achieve their investment goals. In addition to finding the mortgage that best suits your needs, you
may need to explain why this is the best option, or you may need to use a simpler language.
Q2 b.
All information is stored in a file and if necessary, the client will sign it twice if there is a
requirement for the contract.
Q3 a.
1. Personal identification number
2. Bank statement
3. Property details to be used as a mortgage
4. Prior loan clearance certificate
Q3 b.
• Mortgage Pre-Approval
This includes receiving credit reports from three centers (called triple mergers) that show credit
scores and credit history from reputable third-party organizations. In your credit report, your
lender can see your payment history (to make sure that your payment obligations have been fully
met on time) and your credit limit (past and present).
• Mortgage Pre-qualification

Pre-qualification is a less important measure of an individual's actual ability to borrow. Here's a
very simple way to enable credit and mortgage payments. The lender usually asks a potential
lender a few basic questions, such as "What is your loan?" The lender's response is not verified
by third parties. It can be useful to talk to your lender for other reasons, but there are no real
results you can prove to anyone (for example, a real estate broker or seller).
• Getting organized
One of the best things you can do during the pre-approval stage is to collect the documents you
need to pre-approve your mortgage. All you can do in advance will reduce your stress in finding
and providing the right home. At this stage, you can immediately transfer all documents to the
loan manager.
Q3 c.
Through telephone and email messages
Q4 a.
What Is the Interest Rate and Annual Percentage Rate?
How Much of a Down Payment Is Required?
What Are the Discount Points and Origination Fees?
Q4 b.
Authenticated banking sites will be approached and used. Along with this various banks credit
terms will also be collected to negotiate on particular terms.
Q4 c.
1. a file manifest.
2. a short text describing the dataset including any information that is not adequately
represented in the structured metadata.
3. codebooks.
4. variable descriptions.
5. documentation of experimental methods.
6. provision of software code used in analysis.

Q5 a.
The most fundamental characteristics most prospective lenders will concentrate on include:
1. Credit history
2. Cash flow history and projections for the business
3. Collateral available to secure the loan
4. Character
Many loan documents that effectively summarize and provide evidence for the first four listings,
including corporate and personal financial reports, tax returns, business plans.
The first three of these criteria are mostly objective data (interpretation of figures can be
subjective).
The fourth factor, your personality, allows lenders to more subjectively evaluate your market
attractiveness and save you and your employees.
When considering whether to fund a small business, lenders often want to take into account
individual factors that represent the strengths or weaknesses of a loan.
Q 5 b.
We want to give you the best experience and be completely satisfied with the products and
services you receive. If the customer has no complaints, please let us know as soon as possible.
The agent does the following:
 Confirm your complaint within 2 business days.
 Research it and respond as quickly as possible to respond within 10 days.
 If we are unable to answer your question within 10 business days, we will explain why
and give you a date when you can get a full answer.
 When we contact you, we will also give advice on what to do if you are not satisfied with
our answer.
Q6 a.
1. Excellent communication to increase the number of loans

Written and oral communication is essential for customer satisfaction with the loan manager. The
person responsible for selling a loan to a customer, lender, or lender must be able to clearly
communicate the loan structure, details, payment plan, etc. to the homeowner.
Better mortgage negotiation skills.
As an important communicator with the lender, the loan manager must also have good
negotiation skills. The mortgage amount or structure can vary depending on the lender's risk and
creditworthiness, so a good lender should be able to adjust for these changes.
3. Good organizational skills in proper record keeping
A loan processor is a member of a mortgage group that submits mortgage loans to the
appropriate institution. To do this, the loan officer must be organized to ensure that the mortgage
documents are delivered to the right parties.
Q6 b.
Through cloud storage data can be stored while taking care of sustainability
Q6 c.
Approaches to professional development:
Skill-based learning
Effective knowledge-based learning allows participants to internalize necessary conceptual or
behavioral knowledge, practice new knowledge or behavioral learning, and receive feedback on
their work.
Make the most of your training program. Talk with your manager about the reason for your visit
and what you would like to gain from it. After the meeting-a summary. Discuss what you learned
during training and how you can apply it directly to your work. Practice the skills you've learned.
Task assignment
Learning through action-dealing with real problems and dilemmas
New tasks can be added to existing tasks as short-term projects.
A key element of the development challenge is the challenge that stresses people and requires
them to think and act differently out of their comfort zone.

Relationship development
Learn through interaction with others. The three main roles a person can play are: (1) Evaluation
(Feedback Provider, Collapse, Comparison Point, Feedback Interpreter), (2) Challenge
(Conversation Partner, Designated Moderator, Role Model), (3) Support (Consultant). ,
Cheerleaders, strengthen, camp).
Q7 a.
Economics' Triple Bottom Line (TBL) believes that businesses should focus on social and
environmental issues as well as profits. According to TBL's theory, net profit should be replaced
by three things: Profit, People, and Earth. TBL strives to measure the level of corporate social
responsibility and the environmental impact over time.
The three outcomes are transformational frameworks that help other companies and
organizations rejuvenate and move towards a more sustainable future. The triple revenue tool
helps you measure, compare, set goals, improve, and ultimately evolve into more sustainable
systems and models.
The business world today is more aware of social and environmental responsibility than ever
before. Businesses are increasingly adopting or increasing social programs. Consumers want
businesses to act transparently and consider all stakeholders. Many consumers are prepared to
pay more for clothing and other goods if they pay their workers wages and respect the
environment in the production process.
Q7 b.
Sustainability
Implementing a recycling policy in all areas of work, including reuse and segregation, will
contribute to the sustainability of the workplace. Make clear choices when buying products and
materials that prevent waste. This can take the form of selecting products with minimal
packaging or using recyclable or recyclable materials.
There are many ways to make your office greener. Employees can use different types of software
and devices to work more efficiently, use their time more efficiently, and reduce waste. For some
businesses, this means clear cultural and policy changes that require people to think differently
and work differently.

Equipment
Keeping the building clean and well maintained is one of your primary responsibilities.
Unfortunately, most conventional cleaning products contain dangerous ingredients that not only
affect the sustainability of your plant management business, but also put your employees,
customers, and contractors at risk.
1. Providing information to people (right). Employees need to know why the action is so
important and how to implement it. People often hesitate before doing something unknown, so it
can be encouraging to be able to try something new. Pilots are a good strategy with low risk.
2. Help people process information. People absorb ideas and make decisions in a specific way
(see the NBS report on decision making for sustainable development for a full overview).
Stories, for example, affect people more than abstract statements. They are more moved by
positive messages than by despair and ridicule. There are no more pictures of drowning white
bears! And the message often has to be heard in different ways many times.
3. Use a leader board. People look for leaders, formal or informal, when deciding how to behave.
If other people you admire do or approve of, people are more likely to follow the action. Leaders
may have celebrities near or farther away from the organization. Peer-to-peer implementations
also set standards. Group work can be a way to show that your colleagues are engaged.
4. Make the action simple and fun. People may have great intentions, but without real support,
actions often don't happen. If there is a trash can nearby, it will be used more. If a product is not
available, people may not be able to find it. Positive messages, social norms, and group activities
can make resistance-related behaviors more enjoyable.
5. Allow participation. People want to be involved in solving problems that affect them.
Engagement can mean a lot, including getting information, but often people want to be able to
share their ideas. Engagement often leads to positive attitudes and innovative ideas.
6. Do it step by step. People can be overwhelmed by big changes. They generally prefer to get
used to one action before attempting another. Consider ending a new business and relating it to
what people already know. A simple example is expanding the outreach of society from charity
work to volunteer work in the same organization.

7. Preventive prices. Charges should be used with care. They are generally effective as long as
they go on. However, as soon as they stop, the action generally subsides. Reward is an “external
motive”, which is an outsider's motive. The motivation for people to develop internally based on
faith lasts longer.

Part 4: Role play
Summary of Clients needs
The benefits of understanding the client’s needs and business go far beyond a successfully
delivered digital system or client satisfaction. In fact, a knowledgeable technology provider able
to deeply immerse into the client’s industry has all the chances to turn into a long-term
technology partner.
Both clients have requirement of long-term loan with small amount of repayment. A super low
introductory rate home loan with no monthly or ongoing fees. Unlimited free redraws and
unlimited additional repayments to help you build your equity and own your home sooner.
Multiple loan splits available. (Rates revert after introductory period ends). 20% minimum
deposit required. Winner of two Mozo Expert's Choice Award for 2021. Get a flexible loan
structure with up to six loan accounts with different rate types. Make free extra repayments.
Enjoy free redraw facility. No upfront or ongoing fees.
When borrowing money from a lender or bank, client can choose to pay just the interest on the
loan or both the interest and the principal (the actual amount borrowed). If they choose to pay
only the interest on the loan, your repayments will be much lower freeing up cash for things like
renovations and other expenses. However, a lender or bank will always assess your ability to pay
back both interest and principle in order to qualify for the loan as interest-only loans have a
limited life span of up to 5 years.
Current financial position
Based on financial position, it was identified that clients are creditor protection. These types of
clients may want to consider certain types of investments that offer a greater level of protection
from the claims of creditors than do other assets. Both the federal Bankruptcy Code and state
laws provide this heightened level of protection. The most obvious examples of protected assets
are the debtor's homestead, retirement plans (including IRAs), life insurance and annuities. The
law offers this protection so that the debtor's family can maintain a minimum level of financial
well-being and avoid becoming a burden to the state. This protection is tempered by society's
concern for the creditor's competing rights to access the debtor's property for the satisfaction of

legitimate claims. In Florida, creditors of an annuity contract owner may not attach or garnish the
cash values or other benefits of an annuity (or insurance policy), unless the contract was obtained
for the benefit of the creditor. If the annuity company releases the cash value to the contract
owner, however, the creditors may bring judgment against the contract holder for the released
proceeds. The same applies to death benefits paid to the estate of the contract holder. Once
released to the estate, the creditors of the deceased’s estate can claim the death benefits. Note:
Proceeds released to a designated beneficiary (other than the estate) cannot be attached by the
contract holder’s creditors. A spendthrift trust clause can protect death benefits from the claims
of the beneficiary’s creditors by having the annuity company hold the benefits and distribute
them over time.
Product options
1. General mortgage
A regular mortgage is a home loan that is not covered by the federal government. There are two
types of existing loans: matching loans and substandard loans.
2. Large Mortgage Loans
A jumbo mortgage is a common type of mortgage with no false credit line. This means that the
home price exceeds the federal loan limit.
3. National Insurance Mortgage
FHA Loans-These types of FHA-assisted home loans help make home ownership possible for
borrowers who do not have a lot of payments or have no outstanding credit. Lenders need a
minimum of 580 FICO Points to receive up to 96.5% of FHA funds with a 3.5% discount.
However, if you lose at least 10%, you get 500 points.
4. Fixed Interest Mortgage
For fixed loans, the interest rate is maintained throughout the term of the loan, so the monthly
mortgage payment will always remain the same. Fixed loans are generally available for 15, 20,
or 30 years.
Adjustable interest mortgage

Unlike fixed rate loans, variable rate ARM loans have variable rates that can rise or fall
depending on market conditions. Many ARM products maintain a fixed rate for several years
until the loan is changed to a variable rate for the remainder of the year.
Interest Mortgage: In the case of an interest mortgage, the lender pays interest on the loan only
for a fixed period. After this period (usually 5 to 7 years), the monthly payment increases as you
start paying principal. With this type of loan, you don't accumulate capital as soon as you first
pay interest. These loans are best for those who know they can sell or refinance, or can
reasonably expect to pay a higher monthly payment later.
PART 5 Role play
Call 1
Me: “Good Morning! I am speaking from YS Finance Sydney; may I have a few moments to talk
with you about our services?”
Susan Philips: “Okay, sure.”
Me: “Miss Philips, we are operating for the past 10 years in the field of financial advice and we
have great feedback from clients.”
Susan Philips: “What kind of advices do you give?”
Me: “Our company provides advice on business, home and investment loans and more.”
Susan Philips: “Home loans? You can tell me more about home loans?”
Me: “Yes, miss Philips we can. If you are interested, then I can connect you with our credit
Representative, Mr. Jim Kelly. He is one of the most efficient representatives we have.”
Susan Philips: “Can I request to talk with him on any other day than today?”
Me: “Of course. When should I tell Mr. Kelly to contact you?”

Susan Philips: “Any day after 14th October.”
Me: “I am entering 15th October here, if it’s okay with you.”
Susan Philips: “Yes, it is.”
Me: “Thank you. Have a nice day.”
Call 2:
Me: “Good Morning! I am speaking from YS Finance Sydney; may I have a few moments to talk
with you about our services?”
Davis Williams: “Okay, sure.”
Me: “Mr. Williams, we are operating for the past 10 years in the field of financial advice and we
have great feedback from clients.”
David Williams: “I am sorry, But I do not need any such advice right now.”
Me: “Okay Mr. Williams. No problem. Thank you for your time. Have a good day.”
David Williams: “Thank You.
PART 6 Team Work
Role play
Me: “We have seven clients, three of whom have filed loan applications, two of whom are
awaiting settlement, one of whom is inside the end stages of his mortgage loan, and one of
whose I have not yet seen.”

Colleague: “A customer is waiting to be allocated to a broker. Allow me to manage this client on
my own because you just have a client with whom you will contact and communicate. Because
the supervisor is also not there just to delegate, the duties will be distributed.”
Me: “Yes, that will actually be helpful. Thank you. Now, we actually have to figure out how to
report out team’s activities for the last financial year. It’s due in 3 days.”
Colleague: “We need to divide this task too. It will save the time and we will have enough left to
discuss the progress of the task before submitting the report to the CEO of Practice.”
Me: “Yes. Let’s divide the last financial year into two sections, you report the team activities
from the month of January to June, and I will report about the month June to December.”
Colleague: “That sounds promising. How often do you think we should finish it so we may
debate it between ourself before reporting it?”
Me: “In three days, the paper is released. Let's start with the new clientele on the first day. We'll
begin to work on the program execution that discussion. We'll have a meeting on EOD, say at 6
p.m. on the second day, to evaluate the study's development and instead deliver it on schedule to
the CEO.”
Colleague: “Sounds perfect to me.”