FNS50315 Diploma of Finance and Mortgage Broking Management - Assignment 3 & 4

FNS50315 Diploma of Finance and
Mortgage Broking Management
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Contents
Assignment 3:.............................................................................................................................3
Question 1:.............................................................................................................................3
Question 2:.............................................................................................................................5
Question 3:.............................................................................................................................7
Question 4:.............................................................................................................................9
Question 5:...........................................................................................................................11
Question 6:...........................................................................................................................12
Assignment 4: Servicing and Research Assessment................................................................13
Question 1............................................................................................................................13
References:...............................................................................................................................18
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Assignment 3:
Question 1:
Information required with appropriate listening and questioning:
The lending requirements of the clients are closely associated with the type of personal
conditions and the circumstances prevailing with him in the current scenario. Therefore it is
necessary to carefully and actively engage with the client for gathering the type of
information required regarding the loan extending (Marshall, 2016). The type of information
will include:
 Personal details – The personal details of the person demanding the loan will directly
influence the purpose and aim of acquiring the loan.
 Family background of the person – The family background plays a crucial role in
determining the social status of the person and the history of past obligations
concerned with the family.
 Professional history and background – The professional history will largely impact
the sources of incomes concerned with the person acquiring the loan.
 Needs and purposes of the loan required – The various needs and purpose for which
the person is taking the loan are of great importance as a sound business plan r
investment opportunity will result in timely benefits to be accruing to the person.
 The details and prospects of repaying the loan – The details must be taken about the
plan of the person for relaying the loans.
 Income trend of the client – The sources of incomes and structure of its earning
capacity for future scenarios will also require to be investigated in this process.
The collection of quality information requires planning in advance the questions to be asked
and the information necessary for assessing the client situation. A proper questionnaire must
be prepared and a personal interview can be fixed with the client in order to have full
information. The broker must be well aware of the importance and significance of careful
listening and questioning the client as the information gathered can be great help in assessing
the actual situation of the client (Nawang, et. al., 2011).
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Significance of professionalism, interpersonal skills and appropriate language:
The professionalism while interacting with the client is of utmost importance for the broker in
maintaining a healthy relationship in future. The communication skills must be advanced in
order to engage the client in interviewing process and the interpersonal skills will play a
major role in that scenario. The broker must communicate with the client in the appropriate
language which is in conformity with his or her cultural languages. There should be no
ambiguity regarding the understand ability between the client and the broker. The continuous
interaction will help in maintain a strong bind and communication throughout the complex
process of broking (Nyanchama, 2014).
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