The Residential Mentoring Program is approved and recognised by the MFAA and FBAA.
The program is exclusively delivered online only. There are 14 modules to the Residential Mentoring Program. Each Module takes approximately 2-3 hours to complete – This allows interaction with the Mentees which is an excellent form of reinforcement and learning.
Each Module is designed to be skill building and from the outset the Mentee will definitely feel like they are learning and this will in turn boost their confidence and their outcomes.
The Assessments for the Residential Modules
There are 4 Assessments for Each Module and there is Homework allocated for each Module – The students have one fortnight to complete these assessments. The Assessments are not onerous and are only there as knowledge based reinforcement.
Course Delivery
The Online delivery mode which is as the term describes delivered Online The inclusions and benefits are outlined in the table below
Inclusions of the Residential Mentoring Program Online
Inclusions (Online) | Venue | Schedule | Benefits |
---|---|---|---|
14 Lessons delivered by Trainer / Mentor | Online Zoom Meetings | Weekly or Individual Schedule tailored to your needs | Able to meet with other Mentees via Zoom Q&A sessions in class Practical Feedback Immediately |
Continuous Professional Development Sessions (CPD) | Online Zoom Meetings | • Weekly Fortnightly or Monthly • (No sessions in December or January) | Able to meet with all Mortgage Brokers Lenders and other Professionals via Zoom meetings |
Online | 24 Hours a Day | Improves your professionalism and your mortgage broking outcomes | |
• You will be allocated to an individual Mentor • Help with all of your queries and scenarios • Guaranteed Service Levels from your Mentor | • Mentor Access • Zoom • Phone • Text • Team Viewer | You can conduct appointments via zoom – you can have a mentor assist with your appointments Your Mentor will insist on reviewing your first 10 Loans before Submission | • Great Help with the ever changing lending market • Help with scenarios • Help with Submissions • Help with Product Selection • Help with Policy • Help with Calculations • Help with growing Your Business |
Course Overview – 13 modules
- Module 1
- Module 2
- Module 3
- Module 4
- Module 5
- Module 6A
- Module 6B
- Module 7
- Module 8
- Module 9
- Module 10
- Module 11
- Module 12
- Module 13
Module 1 – The Successful Broker
- Getting the Business and Doing the Business
- Communication
- A Loan Scenario – Think like an assessor
- The Funding Summary – Transaction Terms
- First Homeowner Grants and State Revenue Office
- Mortgage Insurance
Module 2 – Serviceability
- Living Expenses
- HEM
- Borrowing Capacity and Ratios
- Bank Calculators
- Other Income Interest/ Pension/ Family Maintenance
Module 3 – Income, Pay Slips and Self-Employed Income
- A Normal Pay Slip – What to look for
- A Complex Pay Slip- What to look for
- A Casual Employee- How to annualise
- No Pay Slips
- Self-Employed Income
Module 4 – Lending Products
- Best Interest Duty – Recommending products
- Structuring Loans
- Loan Terminology
- Amortisation – The deletion of debt
- Comparison Rates – Annual percentage rates
- The Lending Product Maze – Types of loans
- Product Comparisons
- 10 Lending Tips for your Clients – Helping clients make the most of their home loan
Module 5 – Compliance
- Why be Compliant – Regulated and un-regulated loans
- The Process and The Fact Find
- Comprehensive Credit Reporting
- Debt Negotiation
- Open Banking – Online lending
- The Process and Living Expenses
- The Process and A Credit Guide
- The Process and Privacy Consent
- The Credit Quote
- The Process and The Credit Proposal and Disclosure
- The Process and Best Interest Duty
- The Process and The Lender Acknowledgement and Consent
- The Process and File Notes
- The Process and Referrers
- The Process and Gift Register
- The Process and Compliance Checklist
Module 6A – Loan Processing
-
- The Fact Find and Verifying Data
- Policy Research
- Workshop Documents – Initial Workshop Numbers UMI – Funding Summary – SOP
- Pricing
- Product Comparisons
- Scenario Inputting to Software
- Generating Compliance Documentation
- Transition to Apply Online – Loan App
- Uploading Supporting Documents
- Post Lodgement Tracking
- File Notes
- File Set-up
Module 6B – The Appointment
- My Profile and My Introduction
- The Fact Find
- The Appointment
- The 4 Step Process
- Tips and Tools for the Successful Appointment
Module 7 – Contract Law – House and Land Package
- What is a Contract
- Security
- What are the components to a building contract?
- Titles and Land Ownership
- Executing the contract
- How to present the House and Land package to the lender
Module 8 – Security Guarantees
- The Scenario
- Comparing the LMI Charges
- What are the security guarantee options?
- Are the lenders policies different for security guarantees?
- Should you recommend a second mortgage behind a different lender?
Module 9 – The Settlement Process
- The Conveyancing Process and Your Role
- Understanding a Credit Contract
- Explanation of Mortgage Documents
- Certification
- The Settlement Process – PEXA
- Discharge Forms
- Fast Refinances
- After Settlement Process and Your Role
Module 10 – Doing the Business and Getting the Business
- Think like an assessor and act like a salesperson – Credit Scoring
- What is comprehensive credit reporting?
- Credit File errors and how to help your clients
- Debt negotiation
- What does the future of banking look like?
- Software that is a must for mortgage broking
- Compliance Revised – File Notes
- Communication throughout the process
Part B
- Getting the business, the sales funnel
- Your USP – Positioning – Your Process
- Let’s start to get some business
Module 11 – Complex Structuring
- The Case Scenario – A Complex Scenario
- The Case Scenario – Mary and John
- Property Spreadsheets
- Product Selection and Complex Lending
Module 12 – Other Loans
- Personal Loans
- Bridging Loans
- Low Documentation Loans
- SMSF Loans
- Reverse Mortgages
Module 13 – Marketing
- Marketing Basics –Your Sales Funnel
- Google Reviews
- SEO
- Networking
- New Referrers
- Word of Mouth Referrers
Ready to enrol?
Residential Program Pricing
Online pricing
Description | Cost | GST | Total Cost |
---|---|---|---|
Sign Up Fee | $1000 | $100 | $1,100 |
Monthly Fee Payable (x24 months) | $400 | $40 | $440 |
Total Fees Payable for the 2 year Mr. Mentor Program | $10,600 | $1,060 | $11,660 |
10% Discount applies if fees are paid up front
Payment by EFTPOS, Visa or Mastercard Acceptable
Course Schedule & Next In-take
Dates
No. | Description of Lesson | Schedule | Time | Attended | Delivered by – Mentor |
1 | The Successful Broker | 09/09/2022 | 10:30am – 1:00pm | ||
2 | Serviceability | 16/09/2022 | 10:30am – 1:00pm | ||
3 | Income Pay Slips and Self -Employed Income | 23/09/2022 | 10:30am – 1:00pm | ||
4 | Lending Products | 30/09/2022 | 10:30am – 1:00pm | ||
5 | Compliance | 07/10/2022 | 10:30am – 1:00pm | ||
6a | Processing Loans | 14/10/2022 | 10:30am – 1:00pm | ||
6b | The Appointment | 21/10/2022 | 10:30am – 1:00pm | ||
7 | Contract Law – House and Land Packages | 28/10/2022 | 10:30am – 1:00pm | ||
8 | Security Guarantees | 04/11/2022 | 10:30am – 1:00pm | ||
9 | The Settlement Process | 11/11/2022 | 10:30am – 1:00pm | ||
10 | Doing the Business and Getting the Business | 18/11/2022 | 10:30am – 1:00pm | ||
11 | Complex Structuring | 25/11/2022 | 10:30am – 1:00pm | ||
12 | Other Loans | 02/12/2022 | 10:30am – 1:00pm | ||
13 | Marketing | 09/12/2022 | 10:30am – 1:00pm |