Loan Application Process PDF
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Loan Application Process
Assessment cover sheet
In order for your assessment to be marked you must complete and upload all tasks
and this cover sheet via the AAMC Training Group portal. Your assessment tasks must
be uploaded in an electronic format i.e. Word, Excel, PDF or Scan. A maximum of five (5)
attachments (maximum 20MB each) can be uploaded for this assessment. Please see the
step-by-step instructions in your Member Area on how to upload assessments.
Student details
Course name
Assessment name Loan Application Process Assessment
Surname Given name
Address Postcode
Email
Phone Phone (other)
Current occupation
Industry Years in industry
When you upload your assessment you will be asked to confirm that your assessment submission to
AAMC Training is your own work and NOT the result of plagiarism or excessive collaboration, and that all
material used from any third party has been identified and referenced appropriately. AAMC Training may
conduct independent evaluation checks and contact your supervisor to discuss your assessment.
Checklist of attachments:
☐ Task 1 – Case Study ☐ A OR ☐ B
☐ Task 2 – Report/Written Test
☐ Task 3 – Report/Written Test
☐ Task 4 – ☐ A (Activity) and ☐ B (Short Answers)
Please indicate style of course undertaken:
☐ Face to face Trainer’s name:
☐ Correspondence ☐ Online
Once your assessment has been uploaded it will be pending review with your nominated
course assessor and marked within 5-10 working days. You will receive an email advising you
have been marked as “satisfactory” or “additional information required”.
If you have queries relating specifically to your assessment please log an ‘Assessment Query’
under the HELP tab on your Members Area dashboard and a Student Support officer will
respond.
Alternatively, if you have an administration query please go to ‘Admin Query’. For example: I
am having trouble with uploading my assessments and require assistance – can you please
help me with this?
Should you need to speak to someone during office hours, please contact us by:
Phone: +61 (03) 9391 3643 / +61 (0)8 9344 4088 OR Email: info@aamctraining.edu.au
Assessment V3.3 © AAMC Training Group A1
Assessment cover sheet
In order for your assessment to be marked you must complete and upload all tasks
and this cover sheet via the AAMC Training Group portal. Your assessment tasks must
be uploaded in an electronic format i.e. Word, Excel, PDF or Scan. A maximum of five (5)
attachments (maximum 20MB each) can be uploaded for this assessment. Please see the
step-by-step instructions in your Member Area on how to upload assessments.
Student details
Course name
Assessment name Loan Application Process Assessment
Surname Given name
Address Postcode
Phone Phone (other)
Current occupation
Industry Years in industry
When you upload your assessment you will be asked to confirm that your assessment submission to
AAMC Training is your own work and NOT the result of plagiarism or excessive collaboration, and that all
material used from any third party has been identified and referenced appropriately. AAMC Training may
conduct independent evaluation checks and contact your supervisor to discuss your assessment.
Checklist of attachments:
☐ Task 1 – Case Study ☐ A OR ☐ B
☐ Task 2 – Report/Written Test
☐ Task 3 – Report/Written Test
☐ Task 4 – ☐ A (Activity) and ☐ B (Short Answers)
Please indicate style of course undertaken:
☐ Face to face Trainer’s name:
☐ Correspondence ☐ Online
Once your assessment has been uploaded it will be pending review with your nominated
course assessor and marked within 5-10 working days. You will receive an email advising you
have been marked as “satisfactory” or “additional information required”.
If you have queries relating specifically to your assessment please log an ‘Assessment Query’
under the HELP tab on your Members Area dashboard and a Student Support officer will
respond.
Alternatively, if you have an administration query please go to ‘Admin Query’. For example: I
am having trouble with uploading my assessments and require assistance – can you please
help me with this?
Should you need to speak to someone during office hours, please contact us by:
Phone: +61 (03) 9391 3643 / +61 (0)8 9344 4088 OR Email: info@aamctraining.edu.au
Assessment V3.3 © AAMC Training Group A1
Loan Application Process
LOAN APPLICATION PROCESS ASSESSMENT
CREDIT TRANSFER
You may be able to claim credit transfer for a unit/s of competency that you have previously
completed with AAMC Training or another RTO. If you have been awarded a record of result
or statement of attainment for any of the units detailed below then please go to the Credit
Transfer tab in your Learning Centre and follow the prompts.
This assessment relates to the following units of competency:
FNSFMB401 Prepare loan application on behalf of finance or mortgage broking clients;
FNSFMB402 Identify client needs for broking services
FNSFMB403 Present broking options to client
FNSINC402 Develop and maintain in-depth knowledge of products and services used by
an organisation or sector
FNSFMB501 Settle applications and loan arrangements in the finance and mortgage
broking industry
FNSCUS501 Develop and nurture relationships with clients, other professionals and
third party referrers.
FNSCRD301 Process applications for credit (this unit is only applicable to those
completing the Certificate IV in Finance and Mortgage Broking FNS40815 course).
Please refer to AAMC Training’s full Recognition Policy for further details.
PLEASE READ THESE IMPORTANT INSTRUCTIONS BEFORE
COMMENCING YOUR ASSESSMENT:
Please note articles and resources used in questions below are for the purpose of training only
and may be outdated but still acceptable to meet the requirements of the tasks.
In addition to fully reading and understanding the contents of the Learner Guide,
you have been provided an FMB Assessment Toolkit. We urge you to fully read and
understand both of these resources prior to commencing the following tasks as they will
assist you in successfully achieving an understanding of this module and thus a satisfactory
result. Most of these tasks are related to the FMB Assessment Toolkit. You will also need
to access some of the forms and templates in the Useful Resources section of your Members
Area.
Your answers to the task questions are to be typed into this document and uploaded.
No assessment word count has been specified, although you are expected to provide good
quality answers to each of the questions.
At the time of going to print the web links in this document were current. If you find a
broken link please research yourself and advise AAMC Training of the issue.
Although some general discussion between students covering the assessment is allowed
your responses to each of the questions must be an individual effort.
PLEASE NOTE: AAMC Training only wants to see your own work. Please do not upload
parts of the learning guide or instructions on how to complete. When this extra
information is uploaded it presents unnecessary work for the assessors and in turn delays our
assessment responses.
A2 © AAMC Training Group Assessment V3.3
LOAN APPLICATION PROCESS ASSESSMENT
CREDIT TRANSFER
You may be able to claim credit transfer for a unit/s of competency that you have previously
completed with AAMC Training or another RTO. If you have been awarded a record of result
or statement of attainment for any of the units detailed below then please go to the Credit
Transfer tab in your Learning Centre and follow the prompts.
This assessment relates to the following units of competency:
FNSFMB401 Prepare loan application on behalf of finance or mortgage broking clients;
FNSFMB402 Identify client needs for broking services
FNSFMB403 Present broking options to client
FNSINC402 Develop and maintain in-depth knowledge of products and services used by
an organisation or sector
FNSFMB501 Settle applications and loan arrangements in the finance and mortgage
broking industry
FNSCUS501 Develop and nurture relationships with clients, other professionals and
third party referrers.
FNSCRD301 Process applications for credit (this unit is only applicable to those
completing the Certificate IV in Finance and Mortgage Broking FNS40815 course).
Please refer to AAMC Training’s full Recognition Policy for further details.
PLEASE READ THESE IMPORTANT INSTRUCTIONS BEFORE
COMMENCING YOUR ASSESSMENT:
Please note articles and resources used in questions below are for the purpose of training only
and may be outdated but still acceptable to meet the requirements of the tasks.
In addition to fully reading and understanding the contents of the Learner Guide,
you have been provided an FMB Assessment Toolkit. We urge you to fully read and
understand both of these resources prior to commencing the following tasks as they will
assist you in successfully achieving an understanding of this module and thus a satisfactory
result. Most of these tasks are related to the FMB Assessment Toolkit. You will also need
to access some of the forms and templates in the Useful Resources section of your Members
Area.
Your answers to the task questions are to be typed into this document and uploaded.
No assessment word count has been specified, although you are expected to provide good
quality answers to each of the questions.
At the time of going to print the web links in this document were current. If you find a
broken link please research yourself and advise AAMC Training of the issue.
Although some general discussion between students covering the assessment is allowed
your responses to each of the questions must be an individual effort.
PLEASE NOTE: AAMC Training only wants to see your own work. Please do not upload
parts of the learning guide or instructions on how to complete. When this extra
information is uploaded it presents unnecessary work for the assessors and in turn delays our
assessment responses.
A2 © AAMC Training Group Assessment V3.3
Loan Application Process
Task 1: You will notice that there are two options of Case Study within this assessment – the
first (A) is more specifically for Mortgage Brokers, the second (B) for brokers in the Plant &
Equipment and Motor Vehicle field. Please complete only the stream relevant to you
and indicate this on the assessment cover sheet.
Either the Mortgage Finance or Motor Vehicle Equipment Checklist must be submitted with the
fully completed assessment. This must encompass all documents from initial contact with the
clients through to settlement of the loan. Documents must be submitted in a suitable logical
order as listed on the checklists and consist of all relevant NCCP documents.
The documentation required should be consistent for all submissions, however student
submissions will vary in regards to outcomes based on the interpretation of the data and
“client” responses during the interview process.
As you are aware, our learning centre allows for 5 uploads per assessment (max 20MB per
file). As there are many attachments required for this assessment, you may wish to embed
documents as a way of minimising document uploads. Please see instructions on how to do
this if you are not familiar with this practice.
Assessment V3.3 © AAMC Training Group A3
Task 1: You will notice that there are two options of Case Study within this assessment – the
first (A) is more specifically for Mortgage Brokers, the second (B) for brokers in the Plant &
Equipment and Motor Vehicle field. Please complete only the stream relevant to you
and indicate this on the assessment cover sheet.
Either the Mortgage Finance or Motor Vehicle Equipment Checklist must be submitted with the
fully completed assessment. This must encompass all documents from initial contact with the
clients through to settlement of the loan. Documents must be submitted in a suitable logical
order as listed on the checklists and consist of all relevant NCCP documents.
The documentation required should be consistent for all submissions, however student
submissions will vary in regards to outcomes based on the interpretation of the data and
“client” responses during the interview process.
As you are aware, our learning centre allows for 5 uploads per assessment (max 20MB per
file). As there are many attachments required for this assessment, you may wish to embed
documents as a way of minimising document uploads. Please see instructions on how to do
this if you are not familiar with this practice.
Assessment V3.3 © AAMC Training Group A3
Loan Application Process
Task 1: Case Study – Loan application preparation
You will notice that there are two options of Case Study within this assessment –
the first (A) is more specifically for Mortgage Brokers, the second (B) for brokers in
the Plant & Equipment and Motor Vehicle field. Please complete only the stream
relevant to you and indicate this on the assessment cover sheet.
Choosing one of the case studies presented below, prepare a loan file from contact with the
clients to preparing the loan application for lodgement with the client’s lender of choice.
In completing this task, you need to demonstrate to your assessor that you are competent in
the following areas and able to:
communicate ideas and information
collect, analyse and organise information
plan and organise activities
work with others in a team
use mathematical ideas and techniques
solve problems by providing solutions
use technology.
To do this you will need to compile a report (Client Needs Review/Fact Find) indicating your
thoughts and processes on different aspects of your application. These may include, but are
not limited to:
the choice of loan product for your client and the information about the loan product that
you presented to them. Where you located the product information. Remember there is no
right/wrong answer to this area, it is always subjective.
the use of technology to compare the product/fees, find information on the products etc.
how you would work in a team situation with your co-workers, lenders, real estate agents,
mentor etc.
In areas where you do not have copies of actual supporting documentation, insert a page with the
name of the document you would include e.g. copy of driver’s licence for the client.
There are a number of templates in the Member’s Area under ‘Useful Resources’ that you
could use in your submission.
Remember there is no right or wrong answer as each client you see presents a new challenge
and if you can provide solutions for those challenges you will be well regarded and successful
in this industry.
Because this course is taken nationally, we ask that you localise addresses and
places of employment so that you can have familiarity with the assessment.
You will have to take into account any necessary adjustment of stamp duty
concessions for first home buyers. This will have to be considered when discussing
and setting out the fees and costs with your clients. You will have to contact your
Office of State Revenue to determine the correct amount of benefits to which your
clients are entitled.
A4 © AAMC Training Group Assessment V3.3
Task 1: Case Study – Loan application preparation
You will notice that there are two options of Case Study within this assessment –
the first (A) is more specifically for Mortgage Brokers, the second (B) for brokers in
the Plant & Equipment and Motor Vehicle field. Please complete only the stream
relevant to you and indicate this on the assessment cover sheet.
Choosing one of the case studies presented below, prepare a loan file from contact with the
clients to preparing the loan application for lodgement with the client’s lender of choice.
In completing this task, you need to demonstrate to your assessor that you are competent in
the following areas and able to:
communicate ideas and information
collect, analyse and organise information
plan and organise activities
work with others in a team
use mathematical ideas and techniques
solve problems by providing solutions
use technology.
To do this you will need to compile a report (Client Needs Review/Fact Find) indicating your
thoughts and processes on different aspects of your application. These may include, but are
not limited to:
the choice of loan product for your client and the information about the loan product that
you presented to them. Where you located the product information. Remember there is no
right/wrong answer to this area, it is always subjective.
the use of technology to compare the product/fees, find information on the products etc.
how you would work in a team situation with your co-workers, lenders, real estate agents,
mentor etc.
In areas where you do not have copies of actual supporting documentation, insert a page with the
name of the document you would include e.g. copy of driver’s licence for the client.
There are a number of templates in the Member’s Area under ‘Useful Resources’ that you
could use in your submission.
Remember there is no right or wrong answer as each client you see presents a new challenge
and if you can provide solutions for those challenges you will be well regarded and successful
in this industry.
Because this course is taken nationally, we ask that you localise addresses and
places of employment so that you can have familiarity with the assessment.
You will have to take into account any necessary adjustment of stamp duty
concessions for first home buyers. This will have to be considered when discussing
and setting out the fees and costs with your clients. You will have to contact your
Office of State Revenue to determine the correct amount of benefits to which your
clients are entitled.
A4 © AAMC Training Group Assessment V3.3
Loan Application Process
Case study A (Residential mortgage)
BACKGROUND
Mark Armstrong, a friend from the local tennis club, has suggested you contact a couple
known to him (the Hendersons) who are seeking their first home loan. They have been renting
and wish to establish some permanency by purchasing a block and building a home. A referral
agreement with Mark has been completed in compliance with regulations.
Currently the family is renting in a suburb near you and paying $475 per week in rent to the
local Ray White real estate office. Due to diligent saving after very heavy previous medical
expenses for their son Michael, they find themselves in a satisfactory financial position.
They have purchased a block of land within reasonable distance from the high school and are
negotiating with a builder.
APPLICANT DETAILS
Alan Jacob Henderson of 17 Capital Court, In a suburb near you. (4 years)
DOB 04.01.1982
EMPLOYMENT Marketing Manager - National Clients
EMPLOYER Hi-Temp Gas
ADDRESS 21 Alwyn Street, In your City
CONTACT Tel: (H) 91000000 (B) 87643210 (M) 0419999999
Facs: 91000001
Email: hendo@hitemp.com.au
Website: www.hitempgas.com.au
PERIOD 6 YEARS
GROSS INCOME $111,000 p.a
MOTOR VEHICLE Fully maintained
Cheryl Ann Henderson of 17 Capital Court, In a suburb near you. (4 years)
DOB 07.03.1981
EMPLOYMENT Law Clerk
EMPLOYER Smith, Smith and Smith
ADDRESS Suite 14, 12 Flinders Street, In your City
CONTACT Tel: (H) 91000000 (B) 65432101 (M) 0416667901
Facs: 03 10000001
Email: cherylann@smithys.com.au
Website: www.smithslegal.com.au
PERIOD 6 YEARS
GROSS INCOME $65,000 p.a.
Assessment V3.3 © AAMC Training Group A5
Case study A (Residential mortgage)
BACKGROUND
Mark Armstrong, a friend from the local tennis club, has suggested you contact a couple
known to him (the Hendersons) who are seeking their first home loan. They have been renting
and wish to establish some permanency by purchasing a block and building a home. A referral
agreement with Mark has been completed in compliance with regulations.
Currently the family is renting in a suburb near you and paying $475 per week in rent to the
local Ray White real estate office. Due to diligent saving after very heavy previous medical
expenses for their son Michael, they find themselves in a satisfactory financial position.
They have purchased a block of land within reasonable distance from the high school and are
negotiating with a builder.
APPLICANT DETAILS
Alan Jacob Henderson of 17 Capital Court, In a suburb near you. (4 years)
DOB 04.01.1982
EMPLOYMENT Marketing Manager - National Clients
EMPLOYER Hi-Temp Gas
ADDRESS 21 Alwyn Street, In your City
CONTACT Tel: (H) 91000000 (B) 87643210 (M) 0419999999
Facs: 91000001
Email: hendo@hitemp.com.au
Website: www.hitempgas.com.au
PERIOD 6 YEARS
GROSS INCOME $111,000 p.a
MOTOR VEHICLE Fully maintained
Cheryl Ann Henderson of 17 Capital Court, In a suburb near you. (4 years)
DOB 07.03.1981
EMPLOYMENT Law Clerk
EMPLOYER Smith, Smith and Smith
ADDRESS Suite 14, 12 Flinders Street, In your City
CONTACT Tel: (H) 91000000 (B) 65432101 (M) 0416667901
Facs: 03 10000001
Email: cherylann@smithys.com.au
Website: www.smithslegal.com.au
PERIOD 6 YEARS
GROSS INCOME $65,000 p.a.
Assessment V3.3 © AAMC Training Group A5
Loan Application Process
OTHER DETAILS
DEPENDENTS Jennifer Ann Henderson DOB 07.03.2004
Michael Alan Henderson DOB 07.03.2004
NEAREST RELATIVE NOT
LIVING WITH APPLICANT
John Joseph Henderson (Brother)
108 Budburst Ave, In a suburb near you
0410000000
BANK DETAILS NAB – BSB: 001 002 A/c Number: 1234567
REAL ESTATE AGENT Flying High Estate Agents
4 Birdsnest Avenue, In a suburb near you.
CONTACT: Hugh Talon
Tel: 10000700 Facs: 10000080
Email: hught@gmail.com
BULDER Homes Plus More (Master Builders)
38 Archdeacon Street West, In a suburb near you.
CONTACT: Grace Love
Tel: 40000000 Facs: 40000003
Email: grace@hpm.com.au
CONVEYANCING FIRM Lightning Settlements
Suite 3, 4 Business Ave, In a suburb near you.
CONTACT: Louise Stratton
Tel: 10004000 Facs: 10005000
Email: lulu@lightningsetts.com.au
PROPOSED ADDRESS Lot 47 Eaglehawk Circle, In a suburb near you.
LAND DESCRIPTION Lot 47 on Plan of Subdivision 731680Z
PARENT TITLE Volume 11580 Folio 996
Created by instrument PS725680G 04.04.2018
VENDOR Inspired Developments Pty Ltd
Suite 114/ 100 Bridge Road, In a suburb near you.
Tel: 50000001 Facs: 50000002
Email: Info @inspired.com.au
SETTLEMENT DATE 14/00/20XX
When completing your Fact Find/ Client Needs review please remember the Duty of Care.
One of the most important questions you should ask is about Risk Protection. Have the clients
considered the ramifications of financial hardship caused by illness, accident or death?
The Q & A component of the CNR covers this adequately. You are made aware their contents
are insured but they have no insurance policies covering life, trauma and income protection.
This is where you ask what cover they consider is enough in view of the financial
commitments they are now planning? Will Cheryl have to visit Centrelink if an unforeseen
event happens to Alan and vice versa? Should they have to change their lifestyle? Not if the
Broker carries out all the requirements to provide the clients’ needs.
A6 © AAMC Training Group Assessment V3.3
OTHER DETAILS
DEPENDENTS Jennifer Ann Henderson DOB 07.03.2004
Michael Alan Henderson DOB 07.03.2004
NEAREST RELATIVE NOT
LIVING WITH APPLICANT
John Joseph Henderson (Brother)
108 Budburst Ave, In a suburb near you
0410000000
BANK DETAILS NAB – BSB: 001 002 A/c Number: 1234567
REAL ESTATE AGENT Flying High Estate Agents
4 Birdsnest Avenue, In a suburb near you.
CONTACT: Hugh Talon
Tel: 10000700 Facs: 10000080
Email: hught@gmail.com
BULDER Homes Plus More (Master Builders)
38 Archdeacon Street West, In a suburb near you.
CONTACT: Grace Love
Tel: 40000000 Facs: 40000003
Email: grace@hpm.com.au
CONVEYANCING FIRM Lightning Settlements
Suite 3, 4 Business Ave, In a suburb near you.
CONTACT: Louise Stratton
Tel: 10004000 Facs: 10005000
Email: lulu@lightningsetts.com.au
PROPOSED ADDRESS Lot 47 Eaglehawk Circle, In a suburb near you.
LAND DESCRIPTION Lot 47 on Plan of Subdivision 731680Z
PARENT TITLE Volume 11580 Folio 996
Created by instrument PS725680G 04.04.2018
VENDOR Inspired Developments Pty Ltd
Suite 114/ 100 Bridge Road, In a suburb near you.
Tel: 50000001 Facs: 50000002
Email: Info @inspired.com.au
SETTLEMENT DATE 14/00/20XX
When completing your Fact Find/ Client Needs review please remember the Duty of Care.
One of the most important questions you should ask is about Risk Protection. Have the clients
considered the ramifications of financial hardship caused by illness, accident or death?
The Q & A component of the CNR covers this adequately. You are made aware their contents
are insured but they have no insurance policies covering life, trauma and income protection.
This is where you ask what cover they consider is enough in view of the financial
commitments they are now planning? Will Cheryl have to visit Centrelink if an unforeseen
event happens to Alan and vice versa? Should they have to change their lifestyle? Not if the
Broker carries out all the requirements to provide the clients’ needs.
A6 © AAMC Training Group Assessment V3.3
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