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Residential Broker Program

Mr. Mentor’s Residential Broker Program is a game changer for the mortgage broking industry.

This concept is not only practical and affordable, it enables the experienced mortgage broker (a broker that fits the peak body requirements for mentoring) the opportunity to mentor new brokers into their business.

This system involves a tri party agreement between the following stakeholders:

Responsibilities of each stakeholder

The Service Provider (Mr. Mentor Pty Ltd)

The Service Provider will facilitate the Mr Mentor Mentoring Lessons (15) over the first 6-month period from the commencement of this agreement. The Lessons will be scheduled to suit both the service provider and whenever possible the Approved Mentee

To provide and maintain the material for the 12 formal lessons provided by Mr Mentor over a 6-month period. This material includes;

  • The Resources
  • The Assessment Kits
  • The Tool Kits
  • Full Access to The Broker Portal
  • To communicate with the approved mentor to ensure the mentor is comfortable with the program
  • The Service Provider is responsible for ensuring there is adequate resources to be able to deliver the training material and course to the Mentee will deliver the material to the Mentee by Zoom or by any other online medium
  • The Service Provider will hold Continuous Professional Development (CPD) sessions to assist the mentee to obtain MFAA (CPD) hours or FBAA (CPD). These sessions are currently held weekly and are subject to change. There are no CPD session held in the months of December and January
  • To maintain records of the mentees the CPD points gained from attending the mentoring and (CPD) sessions for the first 2 years
  • To allow the approved mentor to sit in on any lessons provided by the service provider that their mentee will be attending
  • To allow the mentee access to the Mr Mentor portal for a 2 year period
  • To issue a certificate of completion upon successful completion of lessons and assessments with a competent level – noting the CPD points achieved for the course completion.

The Approved Mentor

  • To allow the mentee practical office work sessions aside from the lessons
  • To review the mentees loan scenarios before loan submission for the mentees first 12 loans or for the total of 2-year period – whichever the mentee prefers.
  • To allow the mentor time in the approved mentor’s business to complete homework from the Mr Mentor lessons
  • Not to interrupt the service providers lessons unless invited to do so if attending the lessons
  • The approved mentor understands and agrees that the Mr Mentor Program and all its related intellectual property is not to be used or copied in any other mentoring program unless expressed written permission is given for another entity to use the intellectual property of the Mr Mentor Program
  • To provide to the service provider evidence of peak body approval status
  • To abide by peak bodies approved mentoring status
  • To hold a presentation event for the mentees who successfully complete the 12 lessons

The Mentee

  • To attend the scheduled lessons
  • To have the appropriate software to be able to complete the lessons
  • To be respectful of both the service providers and other mentees attending the lessons
  • To complete the assessments at the completion of the session and to submit the assessments to either admin@mrmentor.com.au or to upload online
  • To have permission from the Mentee tp post a testimonial and/or a photo on the Mr Mentor website from the presentation and to take photos of the mentee during the lesson
  • The mentee understands and agrees that the Mr Mentor Program and all its related intellectual property is not to be used or copied in any other mentoring program unless expressed written permission is given for another entity to use the intellectual property of the Mr Mentor Program
  • To pay the agreed  mentoring fees to the service provider  which are outlined in this agreement and are noted  on the Mr Mentor website: mrmentor.com.au
  • Termination: Should the mentee decide to terminate the agreement the Mentor  may do so by providing 30 Days’ notice in writing by emailing to admin@mrmentor.com.au. Please note the payments will stop after 30 days of notification and there is no refund for the initial sign up fee.
  • The Mentee understands that the service provider is not responsible for teaching the mentee any software programs as the Mr Mentor lessons are non-aggregator specific
  • To ask the mentee to sign the Mr Mentor mentoring agreement
  • You agree to send the mentoring agreement to admin@mrmentor.com.au
  • To give evidence of 100 points certified ID to the service provider
  • To allow the service provider to hold your contact details and your emergency contact details

Benefits

This program has been developed by Brokers who are not just trainers they are:

  • Successful mortgage brokers
  • They have loan books
  • They understand the nuances of broking
  • They are skilled at handling a variety of learning abilities
  • They know how to be professional
  • They know how to communicate with all stakeholders
  • The program is not reliant on one person
  • The program is delivered electronically and is interactive
  • The program is designed to deliver practical and measurable outcomes
  • The program is affordable for the approved mentor
  • Access to CPD sessions, these sessions are recognised by MFAA and FBAA

Course Overview

Module 1 – The Rubber hits the Road

  1. Getting the business and doing the business
  2. Communication and emails
  3. A loan scenario – think like an assessor.
  4. The funding summary – Transaction terms
  5. Mortgage insurance
  6. First homeowner grants and State Revenue Office
  7. Valuations and securities

Module 2 – Serviceability

  1. Living Expenses
  2. Household Expenditure Measure HEM
  3. Borrowing Capacity UMI and DTI
  4. Negative Gearing
  5. Acceptable Income
  6. Bank Calculators – CBA and Westpac

Module 3 – Bank Calculators AOL

  1. Lender Calculators
  2. Pricing
  3. Bank Valuations- Core Logic

Module 4 – Income, Pay Slips and Self-Employed Income

  1. A normal pay Slip – What to look for
  2. A complex pay Slip- What to look for
  3. A casual employee- How to annualise
  4. No Pay Slips
  5. Self Employed Income

Module 5 – Lending Products

  1. Best Interest Duty – Recommending Products
  2. Structuring Loans
  3. Loan Terminology
  4. Amortisation – The deletion of debt
  5. Comparison Rates – Annual Percentage Rates
  6. The Lending Product Maze – Types of Loans
  7. Product Comparisons
  8. 10 Lending Tips for your Clients – Helping clients make the most of their Home Loan

Module 6 – Compliance

    1. Why be compliant – Regulated and Unregulated Loans
    2. The Process and the Fact Find
    3. Comprehensive Credit Reporting
    4. Debt Negotiation
    5. Open Banking – Online Lending
    6. The Process and Living Expenses
    7. The Process and A Credit Guide
    8. The Process and Privacy Consent
    9. The Credit Quote
    10. The Process and The Credit Proposal and Disclosure
    11. The Process and Best Interest Duty
    12. The Process and The Lender Acknowledgement and Consent
    13. The Process and File Notes
    14. The Process and Referrers
    15. The Process and Gift Register
    16. The Process and Compliance Checklist

Module 7 – Processing Loans

  1. The Fact Find and verifying data
  2. Policy Research
  3. Workshop Documents – Initial Workshop Numbers UMI -Funding Summary – SOP
  4. Pricing
  5. Product Comparisons
  6. Scenario Inputting to Software
  7. Generating compliance documentation
  8. Transition to Apply online – Loan App
  9. Uploading Supporting Documents
  10. Post Lodgement Tracking
  11. File Notes
  12. File Set Up

Module 8 – The Appointment

  1. My Profile and My Introduction
  2. The Fact Find
  3. The Appointment
  4. The 4 Step Process
  5. Tips and Tools for the Successful Appointment

Module 9 – Contract Law – Construction Loans

  1. What is a Contract
  2. Security
  3. What are the components to a building contract?
  4. Titles and land ownership
  5. Executing the contract
  6. How to present the House and Land package to the lender

Module 10 – Security Guarantees

  1. The Scenario
  2. Comparing the LMI Charges
  3. What are the Security Guarantee Options?
  4. Are the lenders policies different for Security Guarantees?
  5. Should you recommend a second mortgage behind a different lender?
  6. AOL Structuring for Security Guarantees

Module 11 – The Settlement Process

  1. The Conveyancing Process and your role
  2. Understanding a Credit Contract
  3. Explanation of Mortgage Documents
  4. Certification
  5. The Settlement Process – PEXA
  6. Discharge Forms
  7. Fast Refinances
  8. After Settlement Process and your role

Module 12 – Putting it into Practice

  1. Think like an assessor and act like a salesperson – Credit Scoring
  2. What is comprehensive credit reporting?
  3. Credit File errors and how to help your clients
  4. Debt negotiation
  5. What does the future of banking look like?
  6. Software that is a must for mortgage broking
  7. Compliance Revised – File Notes
  8. Communication throughout the process

Module 13 – Complex Structuring

  1. The Case Scenario – A Complex Scenario
  2. The Case Scenario Mary and John
  3. Property Spreadsheets
  4. Product Selection for Complex lending

Module 14 – Other Products

  1. Personal Loans
  2. Bridging Loans
  3. Low Documentation Loans
  4. SMSF Loans
  5. Reverse Mortgages
  6. Deposit Bonds
  7. Insurance and Cross Selling

Module 15 – Marketing and Prospecting

  1. Marketing Basics –Your Sales Funnel
  2. Google My Business – Google Reviews
  3. LinkedIn
  4. Socials
  5. SEO
  6. Networking
  7. New Referrers
  8. Word of Mouth Referrers

Ready to enquire?

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Mr Mentor offer industry leading Mentoring at a competitive price.

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  • Total Cost – $3,630 including GST
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  • Sign Up Fee – $1,100 including GST
  • Monthly Mentoring Fee – $226.75 pm (x12 months) – $2,721 including GST
  • Total Cost over 12 months – $3,821 including GST
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 Next courses scheduled and open for enrolment

1
The Successful Broker
Wednesday 14th Feb 2024
10:30am - 12:30pm AEST
2
Serviceability
Wednesday 21st Feb 2024
10:30am - 12:30pm AEST
3
Bank Calculators AOL
Wednesday 28th Feb 2024
10:30am - 12:30pm AEST
4
Income Pay Slips and Self -Employed Income
Wednesday 6th Mar 2024
10:30am - 12:30pm AEST
5
Lending Products
Wednesday 13th Mar 2024
10:30am - 12:30pm AEST
6
Compliance
Wednesday 20th Mar 2024
10:30am - 12:30pm AEST
7
Processing Loans
Wednesday 27th Mar 2024
10:30am - 12:30pm AEST
8
The Appointment
Wednesday 3rd Apr 2024
10:30am - 12:30pm AEST
9
Contract Law – House and Land Packages
Wednesday 10th Apr 2024
10:30am - 12:30pm AEST
10
Security Guarantees
Wednesday 17th Apr 2024
10:30am - 12:30pm AEST
11
The Settlement Process
Wednesday 24th Apr 2024
10:30am - 12:30pm AEST
12
Doing the Business and Getting the Business
Wednesday 1st May 2024
10:30am - 12:30pm AEST
13
Complex Structuring
Wednesday 8th May 2024
10:30am - 12:30pm AEST
14
Other Loans
Wednesday 15th May 2024
10:30am - 12:30pm AEST
15
Marketing
Wednesday 22nd May 2024
10:30am - 12:30pm AEST