Sustainability Plan for Mortgage Business in Australia

This report proposes a sustainability plan for a mortgage business operating in Australia. It covers the specific aspects of the business operations and the scope which will ensure that the sustainability policy is able to recommend for all the relevant objectives of the business.

Running head: DIPLOMA IN MORTGAGE BROKING AND FINANCE
Diploma in Mortgage Broking and Finance
Name of Student:
Name of University:
Author’s Note:

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Table of Contents
Introduction......................................................................................................................................2
Scope of Sustainability Policy.........................................................................................................2
Gathering information from a range of sources to plan and develop policy...................................3
Identification and consultation for the stakeholder policy development process............................3
Identification of the appropriate strategies in policy at all stages...................................................3
Recommendations for policy options based on effectiveness, timeframes and cost.......................4
Developing Policy reflecting organization’s commitment to the sustainability as an integral part
of the business planning...................................................................................................................4
Agreeing to the appropriate methods of implementation, outcomes and performance indicators. .5
Promoting workplace sustainability policy including expected outcomes to key stakeholders......5
Expected outcome............................................................................................................................5
The implementation of these technology by the owners is viewed with an integral role in
enhancing the overall sustainability.................................................................................................5
Inform those involved in implementing the policy about the expected outcomes, activities to be
undertaken and assigned responsibilities.........................................................................................6
Developing communication procedure to help implement the workplace sustainability policy.....6
Implement strategies for continuous improvement in resource efficiency......................................6
Establish and assign responsibility for recording systems to track continuous improvements in
sustainability approaches.................................................................................................................6
Document outcomes and provide feedback to key stakeholders.....................................................7
Monitor records to identify trends that may require remedial action..............................................7
Modify policy and or procedures as required to ensure improvements are made...........................7
Conclusion.......................................................................................................................................7
References........................................................................................................................................8

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Introduction
As discussed Gathergood and Weber (2017), mortgage broker acts as the intermediary
between the lender and the borrower. Mortgage lender is identified as the registered owner for
the loan funds and mortgage broker is paid the fees as a compensation for services. Being one of
the top broking firm in Australia, dealing in complex mortgage broking solution our aim is to
adhere to the sustainability aspect as well. An individual providing broking service is liable for
the borrower’s circumstances. In some of the other cases the broker may be a mortgage sales
agent who may be guiding the borrower for the right lender. The report aims to propose a
sustainability plan for a mortgage business operating in Australia. Our sustainability policy
ensures that the objectives of the business are given at the first instance of the deal. It will cover
the specific aspects of the business operations and the scope which will ensure that the
sustainability policy is able to recommend for all the relevant objectives of the business.
Scope of Sustainability Policy
The nature and the scope of the activities has been reviewed as per the data obtained from
the jurisdictions prevailing in Australia. The discourse of the report will define the integral
elements of sustainability, identification and consultation with stakeholders and Include the
appropriate strategies in the policy at all stages of work for minimising the resources. Some of
the various types of the other discussions will focus on the making recommendations for policy
options as per the effectiveness, cost and timeframes. The findings of the report will also develop
the policy which reflects the organisation’s commitment to the sustainability. The findings of the
report have agreed to the appropriate method for implementation, outcomes and performance
indicators. The latter part of the of the study has suggested on the policies for promoting
workplace sustainability, which includes the expected outcomes key to the stakeholders. The
implementation policies will also highlight on the development of the communication procedure
to asset the workplace sustainability. The final section of the policy aims to monitor the records
to identify the trends which may require remedial action and use of the continuous performance
improvement procedures (Campbell and Cocco 2015).

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Gathering information from a range of sources to plan and develop policy
The significant information relating to sustainability plan will be collected from
“Decision Support Tool” taken from “The Business of Sustainability”. The main nature of the
business is identified as a service provider. We are not aware of the damages environment suffers
due to the services provided by us. The exploitation of natural resources is depicted in such a
manner that it may lead to scarcity in the near future. The requirement of the sustainability has
been depicted in areas pertaining to carbon footprints and greenhouse emissions. It is of equal
importance to focus on the “economic as well as social factors because they also affect it
substantially”. Despite of being a service industry providing complex mortgage broking solution,
our main intention is to ensure that the best service to our clients along with keeping a check on
the environmental degradation (Mian and Sufi 2017).
Identification and consultation for the stakeholder policy development process
The policy has identified customers, communities and shareholders as the main
stakeholders of the mortgage firm. The policy will be also able to cover all the interactions of the
stakeholders which will be handled during the daily operations. The employees taking part in the
workplace traditions and providing good ideas are an invaluable asset and stakeholders for the
organization. The planning of the sustainability will be implemented into the daily business
workings. (Chan, Haughwout and Tracy 2015).
Identification of the appropriate strategies in policy at all stages
The technology and design are viewed as a broader term which will cover the fields like
“service improvement and lifecycle monitoring of environment and control, facility design and
management”. We will also emphasize on some of the new ways for saving energy and introduce
smart technology in our office premise. This has been further viewed with the different types of
the implementation of the standards which will be focused on the enhancing the energy
efficiency at our offices and facilities (Krainer and Laderman 2014).
As stated by Pivo (2015), the implementation of these technology is viewed with an
integral role in enhancing the overall sustainability. On a small scale we may introduce using
motion sensors for office lights and make procedures to ensure that the appliances are

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automatically switched off when not in use. The customers are aware of the energy consumed by
the respective appliances from both the environment and cost perspectives. It needs to be
understood that the demand for smart products is continuously increasing which not only has
lower energy consumption but several innovative features such as auto switching, “self-
monitoring or the system of re-use of water” (Keys et al. 2014).
Some of the other areas of the application for the sustainability will be seen with the
“design and technology and daily operations. We strive to encourage our staff to save more
energy and come out with a more energy efficient process. The efficient and productive systems
are depicted with minimising normal resources, thereby reducing the waiting times for the new
applicants of the mortgage services (Agarwal, Ben-David and Yao 2017).
Recommendations for policy options based on effectiveness, timeframes and cost
The policy options along with the timeframes for the respective policies are stated below
as follows:
Policy Options Time Frame Estimated Cost
Energy Efficient Solution at office premises 3 Months $ 35,000
Self- monitoring system for re-use of water 1 Month $ 15,000
Implement motion sensor technologies for minimising
wastage of resource
2 Months $ 40,000
Improved monitoring of the sustainable initiatives 6 Months $ 50,000
Total estimation of time and cost I Year $ 140,000
Developing Policy reflecting organization’s commitment to the sustainability as an integral
part of the business planning
The sustainability policy will include the principal brokers and the owners of the
mortgage firm. The improvement process of the sustainability will be applied to the entire
business. The focus will be given on the “governance and planning, compliance, impact on the
community, and procedures”. The strategic decisions will be conducive in guiding the

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operationally efficient projects. It will also enable us in having a better understanding of the
“technology, improvement in the product, in product designs” (Chauvet, Gabriel and Lutz 2016).
Agreeing to the appropriate methods of implementation, outcomes and performance
indicators
The scope of better sustainability will be adopted with the implementation of the various
steps which have stated that we may be able to achieve better energy efficiency by ensuring
“lights are replaced with energy efficient lights such as LED”. We need to also ensure that all the
electrical appliances are turned off during the night hours when they are not in use. Our advice to
the clients are also based on following these sustainability strategies. We also advice our clients
for using public transportation as much as possible when visiting the offices. In addition to this,
we prefer conducting the meetings via audio/video conferencing instead of the personal meeting
(Basten and Koch 2015).
Promoting workplace sustainability policy including expected outcomes to key stakeholders
Stakeholder Expected outcome
Customers We suggest our clients for using public transportation as much
as possible when visiting the offices. This is identified as
customers contribution to the overall sustainability
Communities We will be also able to improve the social sustainability by
focusing on creating a strong relationship with the local
population and giving assistance to the existing employees.
This approach is considered to be having a direct impact on the
overall sustainability of the business which may be measured
as per the KPIs.
Shareholders
The implementation of these technology by the owners is
viewed with an integral role in enhancing the overall
sustainability

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Inform those involved in implementing the policy about the expected outcomes, activities to
be undertaken and assigned responsibilities
The different polices set in the sustainability plan will be based on assigning the specific
roles of the sustainability agenda. The crucial role by the operational staff has been discerned
with achieving the specific business goals. As we are a service industry, issues related to waste
management and supply chain need not be addressed.
Developing communication procedure to help implement the workplace sustainability
policy
The communication policy and procedure should include:
 Promoting “workplace sustainability policy, including its expected outcome to key
stakeholders”
 Implementing the policy as to outcomes expected and activities
 Review sustainability policy implementation
Implement strategies for continuous improvement in resource efficiency
 “Communicate information about environmental sustainability to the work group”
 “Consult with the work group on implementation and enhancements in environmental
and energy efficiency”
 Adhering to the basic sustainability principles
Establish and assign responsibility for recording systems to track continuous
improvements in sustainability approaches
 Encouraging the participation of the volunteers and staff
 Reinforce commitment to create positive work environment
 Enhancing the communication among staff and management
 Conducting regular surveys
 Organising focus groups and feedback sessions
 Conducting regular internal audits

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Document outcomes and provide feedback to key stakeholders
Our company aims to gradually look for the positive changes in the sustainability
outcomes. The feedback collected has been conducive in knowing about the different types of
the areas of problem of sustainability policy.
Monitor records to identify trends that may require remedial action
 Identify trends from regulatory sources, relevant personnel and organisational
specifications
 “Using software systems for recording and filing documentation” for tracking of current
usage
 Taking Remedial actions after “compliance requirements for benchmarking and
continuous improvement”
Modify policy and or procedures as required to ensure improvements are made
 Modify the procedure at service level (reducing waiting time)
 Modify the procedure at infrastructural level (motion sensor technologies, LED lights,
sustainable technologies
 Modifying the policy at community level creating a strong relationship with the local
population and giving assistance to the existing employees
Conclusion
We have been able to discuss on the sustainability initiatives with the success stories of
the famous men and their contribution towards sustainable development with the employees.
This has been a motivating factor for the employees to come up with innovative ideas. In
addition to this, those who take part in the improvement process and follow “company’s advice
for energy conservation” are rewarded adequately.

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References
Agarwal, S., Ben-David, I. and Yao, V. (2017) ‘Systematic mistakes in the mortgage market and
lack of financial sophistication’, Journal of Financial Economics, 123(1), pp. 42–58. doi:
10.1016/j.jfineco.2016.01.028.
Basten, C. and Koch, C. (2015) ‘The causal effect of house prices on mortgage demand and
mortgage supply: Evidence from Switzerland’, Journal of Housing Economics, 30, pp. 1–22. doi:
10.1016/j.jhe.2015.07.001.
Campbell, J. Y. and Cocco, J. F. (2015) ‘A Model of Mortgage Default’, Journal of Finance,
70(4), pp. 1495–1554. doi: 10.1111/jofi.12252.
Chan, S., Haughwout, A. and Tracy, J. (2015) ‘How Mortgage Finance Affects the Urban
Landscape’, Handbook of Regional and Urban Economics, 5, pp. 987–1045. doi: 10.1016/B978-
0-444-59531-7.00015-6.
Chauvet, M., Gabriel, S. and Lutz, C. (2016) ‘Mortgage default risk: New evidence from internet
search queries’, Journal of Urban Economics, 96, pp. 91–111. doi: 10.1016/j.jue.2016.08.004.
Gathergood, J. and Weber, J. (2017) ‘Financial literacy, present bias and alternative mortgage
products’, Journal of Banking and Finance, 78, pp. 58–83. doi: 10.1016/j.jbankfin.2017.01.022.
Keys, B. J., Piskorski, T., Seru, A. and Yao, V. (2014) ‘Mortgage Rates, Household Balance
Sheets, and the Real Economy’, NBER Working Paper, 1(Grant 1124188). doi:
10.1017/CBO9781107415324.004.
Krainer, J. and Laderman, E. (2014) ‘Mortgage Loan Securitization and Relative Loan
Performance’, Journal of Financial Services Research, 45(1), pp. 39–66. doi: 10.1007/s10693-
013-0161-7.
Mian, A. and Sufi, A. (2017) ‘Fraudulent income overstatement on mortgage applications during
the credit expansion of 2002 to 2005’, Review of Financial Studies, pp. 1831–1864. doi:
10.1093/rfs/hhw104.

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Pivo, G. (2015) ‘The Effect of Sustainability Features on Mortgage Default Prediction and Risk
in Multifamily Rental Housing’, The Journal of Sustainable Real Estate, 5, pp. 152–173.
Available at: http://www.josre.org/5-08-the-effect-of-sustainability-features-on-mortgage-
default-prediction-and-risk-in-multifamily-rental-housing/.