Residential Mortgage Broker Mentoring

The Residential Mentoring Program is approved and recognised by the MFAA and FBAA.

The program is exclusively delivered online only. There are 13 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)VenueScheduleBenefits
13 Lessons delivered by Trainer / MentorOnline Zoom MeetingsWeekly or Individual Schedule tailored to your needsAble 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
Mr. Mentor Toolkit
Online24 Hours a DayImproves 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
• Email
• 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 – The Successful Broker

  1. Getting the Business and Doing the Business
  2. Communication
  3. A Loan Scenario – Think like an assessor
  4. The Funding Summary – Transaction Terms
  5. First Homeowner Grants and State Revenue Office
  6. Mortgage Insurance

Module 2 – Serviceability

  1. Living Expenses
  2. HEM
  3. Borrowing Capacity and Ratios
  4. Bank Calculators
  5. Other Income Interest/ Pension/ Family Maintenance

Module 3 – 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 4 – 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 5 – Compliance

  1. Why be Compliant – Regulated and un-regulated 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 6A – Loan Processing

    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 6B – 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 7 – Contract Law – House and Land Package

  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 8 – 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?

Module 9 – 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 10 – Start to Finish

  1. Fact Find
  2. Credit Guide and Privacy
  3. CCR and Legends
  4. File Set-up
  5. FIle Invite
  6. Electronic Bank Statements
  7. Ordering Valuations
  8. Accreditation Checklist Codes – Password Software – MSA and MFA Settlement Logins
  9. TFN Removal Software
  10. VOI Software IDU – Zip ID
  11. Pricing Requests
  12. Cash Back Requests for Lender Rebates
  13. Loan Tracking Process and Client Communication

Module 11 – Complex Structuring

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

Module 12 – Other Loans

  1. Personal Loans
  2. Bridging Loans
  3. Low Documentation Loans
  4. SMSF Loans
  5. Reverse Mortgages

Module 13 – Marketing

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

Residential Program Pricing

24 Month Plan

Online pricing

DescriptionCostGSTTotal 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 Accepatble

Dates

DateModuleModule Description
25/02/20221The Successful Broker
4/03/20222Serviceability
11/03/20223Income: Pay slips & Self Employed Income
18/03/20224Lending Products
25/03/20225Compliance
1/04/20226AProcessing Loans
8/04/20226BThe Appointment
15/04/20227Contract Law: House and Land Package
22/04/20228Security Guarantees
29/04/20229The Settlement Process
6/05/202210Start to Finish
13/05/202211Complex Structuring
20/05/202212Other Loans
27/05/202213Marketing