Essay on Finance and Mortgage Broking Management


Added on  2020-06-05

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FinanceProfessional DevelopmentNutrition and Wellness
Finance and Mortgage Broking Management(DIPMB_AS_v1A3)Please complete the fields shaded grey.result (assessor to complete)Parts that must be resubmitted:Result — resubmission (if applicable)
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Result summary (assessor to complete)First submissionResubmission (if required)Section1Task 1Task 2Task 3Section2Task 4Task 5Task 6Task 7Task 8Task 9Feedback (assessor to complete)[insert assessor feedback]Page 2 of 53
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Before you beginRead everything in this document before you start your projectforDiploma of Finance and Mortgage Broking Management.About this documentThis document includes the following parts:Instructions for completing and submitting this assignmentResults and feedbackSection 1: Complex lending and brokingSection 2: Business management skillsInstructions for completing and submitting this assignmentHow to use the study planWe recommend that you use the study plan for this subject to help you manage your time to complete theprojectwithin your enrolment period. Your study plan is in the KapLearnDiploma of Finance and Mortgage Broking Management subjectroom.Completing the assignmentThe assignmentThis projectis split over 2 sections. The information and data you need to complete Sections 1 & 2 is presented in case studies at the beginning of those sections and each task. Section 1: Complex Lending and BrokingThe first section on complex lending and broking, requires you to answer the questions for one (1) of the three (3) available case studies. Each case study focuses on different lending scenario, (see diagram below).Page 3 of 53
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Section 2: Business management skillsSection 2 requires you to complete the six (6) tasks as listed in this template.SECTION 1SECTION 23questions6questionsChooseonepathPLUSCaseStudy ACaseStudy BCaseStudy CInvestmentPropertyFinanceCommercialEquipmentFinanceCommercialPremisesFinanceORORTask49BusinessWord countThe word count shown with each question is indicative only. You will not be penalised for exceeding the suggested word count. Please do not include additional information which is outside the scope of the question.Additional researchWhen completing this assignment, assumptions are permitted although they must not be in conflict with the information provided in the Case Studies.You may also be required to source additional information from other organisations in the finance industry to find the right products or services to meet your client’s requirements, or to calculate any service fees that may be applicable.Saving your workDownload this document to your desktop, type your answers in the spaces provided and save your work regularly.Use the template provided, as other formats will not be accepted for these assignments. Name your file as follows: Clienttnumber_SubjectCode_Submissionnumber(e.g. 12345678_DFP1B_Submission1).Include your clientt ID on the first page of the assignment.Before you submit your work, please do a spell check and proofread your work to ensure that everything is clear and unambiguous.Do not delete/remove any sections of the document template.Do not save your completed projectas a PDF.The projectmust be completed before submitting it to Kaplan Professional Education. Incompleteassignments will be returned to you unmarked. Page 4 of 53
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The maximum file size is 5MB. Once you submit your projectfor marking you will be unable tomake any further changes to it. You are able to submit your projectearlier than the deadline if you are confident you have completed all parts and have prepared a quality submission.The projectmarking processYou have 12 weeks from the date of your enrolment in this subject to submit your completedassignment. Shouldyour projectbe deemed ‘not yet competent’ you will be give an additional four (4) weeks to resubmit your assignment.Your assessor will mark your projectand return it to you in the Diploma of Finance and Mortgage Broking Management subject room inKapLearn under the ‘Assessment’ tab.Make a reasonable attemptYou must demonstrate that you have made a reasonable attempt to answer all of the questions in yourassignment. Failure to do so will mean that your projectwill not be accepted for marking; thereforeyou will not receive the benefit of feedback on your submission. If you do not meet these requirements, you will be notified. You will then have until your submission deadline to submit your completed assignment.How your projectis gradedProjecttasks are used to determine your ‘competence’ in demonstrating the required knowledge and/or skills for each subject. As a result, you will be graded as either competent or not yet competent.Your assessor will follow the below process when marking your assignment:Assess your responses to each question, and sub-parts if applicable, and then determine whether you have demonstrated competence in each question. Determine if, on a holistic basis, your responses to the questions have demonstrated overall competence.Page 5 of 53
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‘Not yet competent’ and resubmissionsShould sections of your projectbe marked as ‘not yet competent’ you will be given an additional opportunity to amend your responses so that you can demonstrate your competency to the requiredlevel.You must address the assessor’s feedback in your amended responses. You only need amend those sectionswhere the assessor has determined you are ‘not yet competent’. Make changes to your original submission. Use a different text colour for your resubmission. Yourassessorwill be in a better position to gauge the quality and nature of your changes. Ensure you leave your first assessor’s comments in your assignment, so your second assessor can see the instructions that were originally provided for you. Do not change any comments made by a Kaplanassessor.We are here to helpIf you have any questions about this projectyou can post your query at the ‘Ask your Tutor’ forum in your subject room. You can expect an answer within 24 hours of your posting from one of our technical advisers or clientt support staff.Page 6 of 53
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Capital City Finance and Mortgage Brokers (CCF & MB)George and Mildred are very happy with the way you service your clients and are sure that you are a good fit for the team. They now want you to turn your focus to your primary task which is to assist in expanding the business by building relationships with selected real estate agents, accountants and legal firms through strategic alliances. They also want you to consider how CCF & MB can consolidate its relationships with its existing strategic partners.Let’s recap on what you already know about Capital City Finance and Mortgage Brokers (CCF & MB).It’s a family owned business providing a range of mortgage and finance broking services to the business andprivate sectors, with experience in all facets of finance and insurance providing expert advice covering a multitude of products and options existing within the market.CCF & MB specialises in home loans, commercial lending, business lending, personal and motor vehicle finance and insurance (life and general), and focuses on helping clients find the finance service suited to their individual circumstances. It provides its services through its association with the following partners:Australian Aggregators, a rising business in the aggregation business with an extensive panel of residential and commercial lenders, and asset finance.ABC General Insurance, a boutique insurance company specialising in a full range of general insurances.XYZ Life a small family-owned insurance brokerage specialising in the full range of life insurance products.Based in the city, CCF & MB has the capacity to service clients from their office or anywhere at their clients’ convenience through its team of mobile brokers.CCF & MB does not hold a credit license but operates as a credit representative of Australian Aggregators.Since its inception 13 years ago CCF & MB has built a loan book of almost $1.2 billion and averages over $120 million in new loans annually.CCF &MB’s vision is to be the mortgage and finance broker of choice in the greater metropolitan areaCCF & MB’s mission statement is to operate professionally in accordance with legislation, our licence and professional standardsCCF & MB’s values are as follows:to act with honesty and integrity at all timesto provide unbiased advice and conduct business, free from any conflict of interest to maintain confidentiality in all dealingsto meet all NCCP regulatory requirementsto comply with all mortgage industry laws and regulationsensure quality and efficiency in its loan processes.Page 7 of 53
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CCF & MB’s peopleCCF & MB is owned by husband and wife, George and Mildred Spencer.With over 35 years’ experience in finance and business ownership, George established and built a successful business dedicated to assisting clients with managing their finances effectively. Starting the business with his wife Mildred 13 years ago, George gained immense satisfaction in seeing it expand to service more and more clients across the city and greater metropolitan area. Although in recent years he has stepped back from dealing directly with clients, he still maintains a small select clientele. He also takes great pride in training and mentoring his team to enhance their performance.Mildred has over 22 years of lending experience and is qualified not only to assist her clients with their mortgage requirements but also to assist them with their commercial finance requirements. She also holds financial planning qualifications. She specialises in asset finance.The company has a small team of five additional consultants and two administration staff members. Profiles for the team is as follows:Jennifer Dee is recognised as one of the top female brokers in Australia. She has been in the broking industry for over 10 years and has a passion and dedication to assist and accommodate all of her clients’needs with their financial dreams. Jennifer is an Accredited Mortgage Consultant with the Mortgage andFinance Association of Australia (MFAA).Louise Spencer (George and Mildred’s eldest daughter) is an Accredited Mortgage Consultant with the Mortgage and Finance Association of Australia (MFAA) and has been working as a loan consultant for almost two years. Louise started off in the lending industry in the office as an administrator to gain as much experience and knowledge as possible before taking a broking role. Her passion for helping her clients ensures that she is always available to her clients at a time and place convenient for them.Michael Spencer is George’s younger brother and is CCF & MB’s equipment finance specialist. He has over 25 years working in the equipment finance industry. He has developed an in depth understanding of the transport and agricultural industries, and also provides finance for general equipment, motorvehicles and computer equipment.Martin Long has specialised in equipment finance for the last three years, but prior to this he spent fiveyears operating his own retail food business. This practical experience allows him to see things from his client’s point of view, including experience with equipment finance. He specialises in plant and equipment in the machinery, woodworking and packaging industries. Examples of some of the equipment he has financed are farm machinery, extrusion lines, plastic injection moulders, commercialcatering equipment, woodworking plant, packaging lines, forklifts, office fit-outs and many different motor vehicles.Luis Ramirez migrated to Australia in 25 years ago as a young boy with his family. After completing highschool he graduated from university with an accounting degree and worked in ANZ in commercial lending. He joined CCF & MB 4 years ago and specialises in vehicle and capital equipment financing. Heprovides ITC and general equipment lease funding options for clients. By providing better outcomes, both during and at the end of their equipment leases, Luis’ many clients have been able to reduce costs and maximise the value of their available budgets.CCF & MB is a member of the MFAA as a broking business dealing directly with the public. Both George and Mildred are fellows of the MFAA. CCF & MB is also a corporate member of the FBAA.All staff members, including consultants, are paid an annual salary plus superannuation. Consultants also receive a car allowance plus a percentage of trail commissions that are paid quarterly based on their performance targets.Page 8 of 53
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