Understanding Finance and Mortgage Broking Process

This document provides an overview of the finance and mortgage broking process, including filling out forms, conducting assessments, researching finance options, preparing loan applications, and finalizing settlements. It also highlights the advisory services and high-quality solutions offered by Desklib. The document emphasizes the importance of analyzing the client's financial status and following responsible lending obligations.

Complex Lending
Skills Signoff

Skills Assessment
TASK 1
Broker (Candidate): Hello sir/ ma’am, I am here to describe you about the concepts related to
finance and mortgage so that you can take your decision in proper manner. First I would like to
explain about finance and mortgage broking process which we need to follow i.e. initially we
need to fill mortgage broking forms and other related documents then we need to conduct
assessment and research of finance options. After that I will show you finance options so that
accordingly you will prepare the loan applications. Then loan application will be access and
process so that final settlement of loan application will be done. After that I would like to tell
you how I can help such as provide you advisory services, provide margin, help in broking other
securities and buy and selling of shares as these are my role. Along with this I like to tell that our
organization provide high quality services related to finance and mortgage and we have numbers
of happy customers We also have proper system to guide you as well as resolve your complain
or queries as we have online chat option by 24*7 as well as call option through which we try to
solve queries and provide guidance.
Client (Observer): Can you provide assessment through the video call, if possible?
What all documents I need to arrange for start finance and mortgage broking procedure?
Third Party Observer (mandatory) Comments: ✓ According to the third party broker provide
good understanding as well as skills in the communication with observer. Along with this they also
explain and evaluate process for broking as well as complaints in proper way and observer also
seems comfortable with the broker which leads to services process ahead.
TASK 2
Broker (Candidate): In order to continue our broking process I need to determine tour financial
situation so that I can determine that your financial and mortgage brokerage can be possible or
not. For this I need to know your income on the yearly basis as well as I also need to evaluate
your cash flow. This is so because through that I able to understand your assets, income,
liabilities or expenses properly which help me in taking proper decision accordingly. The main

purpose of gathering your person or financial information is that by this I can effectively get to
know your income, liabilities, expenses and so on which help in determine whether you able to
repay the brokerage amount or not in a specific period of time. For providing the financial
statement of yours, you need to fill up a privacy consent form which we will also keep in private
so that your personal information not get leak.
Client (Observer): I have a house and a car which have value of if you have a house and a car
with a value of $100,000. Along with this, according to me I have little expenses as I have small
family which includes wife and a small child. This show that if a take mortgage I can pay it
according to the fixed duration of time effectively.
Yes broker address my needs and objectives in proper manner as well as it also help me in
understand financial and mortgage concept in effective way through that I can attain my
objective properly.
Third Party Observer (mandatory) Comments: ✓ The broker shows good and effective
understanding as well as skill and they also show proper confidence while gather personal
information, explaining observer about requirement and privacy policies.
TASK 3
Broker (Candidate): Sir/ Ma’am you are thinking why I am highly focus on the analyzing your
financial status as it is very important stage before providing any person loan or broking. This is
so because many time people take loan more than their financial status and when the time of
repayment come they not able to pay the amount due to which our company face loss. So it is
instruction that we must properly analyze the financial status of the client so that no issues arise
in the future. In addition to this, evaluating client financial status also helps us in providing
proper guidelines to the client according to their statement. We also consider it as a first round of
assessment because at this level it get decided whether a client will get broking or not. According
to your financial status you can get financial or mortgage broking of amount which is less than
your financial status.
Third Party Observer (mandatory) Comments: ✓ The broker show good understanding as well
as skills related to the verification procedure that will be used in order to meet responsible lending
obligations of the providing a suitable products and services.

TASK 4
Broker (Candidate):
Client (Observer):
Third Party Observer (mandatory) Comments:
TASK 5
Broker (Candidate):
Client (Observer):
Third Party Observer (mandatory) Comments:
TASK 6
Broker (Candidate):
Client (Observer):
Third Party Observer (mandatory) Comments:
Other skills criteria
TASK 1
Yes financial broker conduct their work according to the financial act as well as professionally
and they also follow each and every law, legislation, regulation and code of practices which
communicating with the observer or client. There are several professional rules, regulations and
code of conduct or practices need to consider by a broker such as they need to exercise
reasonable skills and care to the client as well as they also need to avoid the conflict of the
interest. Broker also disclose all the acceptance in the proper manner whatever they receive from
the client such as fees, remuneration, commission or any other aspects. Broker also follows all
the guidelines related to the Privacy Act 1988 according to which it is essential to always keep
confidential the personal as well as private information of the client even the deal get finish or
completed. The Broker also comply with provisions of the National credit code, National
consumer credit protection Act, Australian consumer law and competition and consumer Act

2010. Broker also explains about the client possibility of notation in order to make on its credit
record every time they were apply for the credit. In addition to this they also follow code of
practices such as they follow standard established at the applicable Australian state and common
law so that process will conducted properly and effectively. They also conduct investigation on
the DRS introduced by Mediation officer as well as hearing of referee in the private and closed
to public.
Third Party Observer (mandatory) Comments: ✓ The broker properly demonstrated good level
of the professionalism as well as they also asked good questions in order to make sure that client is
understanding process in effective manner.
TASK 2
Yes, the financial broker understand the client need as well as it also determined and confirm the
clients requirement of loan through adopting specific questioning, terminology as well as active
listening. In addition to this, according to client broker apply the good and effective level of
communication, interpersonal, negotiation as well as relationship management skills. It is so as
client able to resolve their all queries in effective manner which they asked from the broker
related to the financial and mortgage brokerage. Moreover it is also seems that broker is fully
patient that they answer each and every queries of the client as well as the terms used by the
broker is totally professional which show that they are conducting work effectively. Along with
this, questions asked by the brokers are very effective as well as related to the topic which means
they are professional as well as dedicated toward their work. While conducting the analysis it is
determine that broker able to develop effective as well as appropriate relationship with their
clients which means them able to retain them for the long.
Third Party Observer (mandatory) Comments: ✓ The broker or learner show the effective and
good skills in order to completing the fact findings, developing and maintaining good relationship
as well as it also help in interpreting the client need and requirement effectively and successfully.
TASK 3
Yes, in the project it is seems that finance broke represent the information and data in clear,
unambiguously and effectively to the client. As in respect of this, broker use proper language as
well as terminology that are without the use of jargons. Through this behaviour broker able to

conduct their interaction in effective manner which leads to developing effective as well as
appropriate relationship at the workplace. Broker also provide proper information related to the
financial as well as mortgage broking so that their client able to take decision in effective as well
as appropriate manner. In addition to this, there are some recommendations for the broker such
as they must inform the client in advance that what all the documents will needed in the process.
Through this client get prepare when they come for the meeting with the broker for the first time
as by it the whole process time duration get reduce as well as it also provide time to broker that
they will conduct cross check properly and successfully.
Third Party Observer (mandatory) Comments: ✓ The broker or learner process and good with
the usage of the language as they make each and every thing understandable to the client. In
addition to this, broker also provides recommendation to the client about the best service or facility
for them by which clients able to attain their desire goal or outcome successfully.
TASK 4
Yes, the financial and mortgage broker follow the standard communication practices as well as
protocols in order to conduct their interaction with clients in effective manner. moreover in order
to give response to the specific need or requirement of the client respective project broker adjust
its communication style in order to ensure that client understand each and every information in
best as well as effective manner. In addition to this, through evaluating or determining the
communication it is seem that broker adopt numbers of different practices and documents in
order to make client understand as in this their main priorities is that they conduct
communication effective so that they understand each other perspectives in best manner for
attaining desire outcome at workplace. For example there are some documents which are
required by the broker for ensuring the continuity of the process which client didn’t able to
understand those documents. Then in this case researcher show them sample of the documents
which make easy to client to understand. Along with this broker also explain every best situation
with example so that client will understand it in the effective manner.
Third Party Observer (mandatory) Comments: ✓ In project it is determined that broker and
learner show the good skills as well as knowledge related to the understanding of the other’s
perspective as well as they also take account to client priority. For which broker conduct
communication by changing style properly according to the situation so that client understand it in

effective manner. Along with this they also follow all the protocols so that interaction process will
conducted in best way.
TASK 5
Yes, the broker adopted proper language, tone, concepts as well as pace while interacting with
the clients. In addition to this, it is also determined that broker always try to engage the client by
conducting effective interaction so that they can know more and more about him as that will help
in providing most appropriate suggestions according to their finance and mortgage status.
Moreover through it broker also conduct effective interaction because they want to finalize the
transaction successfully so that they able to attain effective profit as well as market value. It is
also seems that the broker in the respective project is very calm as well as they always try to
resolve issues of his client so that they can take most effective as well as best decision according
to their situation at the workplace.
Third Party Observer (mandatory) Comments: ✓ In project it is identified that broker and
learner demonstrated the good skill as well as knowledge of finance and mortgage broking which
help the client in understanding as well as taking best decision according to their situation. In
addition to this, it will also leads to development and understanding of client related to the finance
and mortgage broking by which they can take decision whether they want to close the process or
not.
TASK 6
Yes, the broker in the project show case effective implementation and evaluation of the
communication strategies and plans that may include usage of effective interpersonal skills in order
to establish rapport as well as developing positive working relationship along with the clients. In
addition to this it will also help in developing relations with other stakeholders such as company
management, other customers, media and many others. Through conducting effective interaction
broker also able to enhance its market value in successful manner, through which they able to attract
more and more clients towards them that enhance their value at the workplace. The effectiveness of
broker is determined when relationship of client as well as broker will be evaluated as they have
effective relation which leads to successful deal.

Third Party Observer (mandatory) Comments: ✓ The broker or learner of in the project show
case the effective skills as well as knowledge while conducting interaction with the clients. In
addition to this, by conducting effective interaction broker able to develop positive relationship
which also leads to building or effective rapport at the workplace and market.