Residential Mortgage Broker Mentoring

Residential mentoring Program

There are 2 Delivery modes for the Residential Mentoring Program. There are 12 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

There is a Face to Face (FTF) delivery mode which is as the term describes delivered in an office or learning environment.  The inclusions and benefits are outlined in the table below

Inclusions of the Residential Mentoring Program Face to Face (FTF)

Inclusions ( FTF )VenueScheduleBenefits
• 2 Years Mentoring
• 12 Lessons – Modules
7 Jeffcott Street
West Melbourne
Vic 3003
FortnightlyAble to meet with other Mentees
Q&A sessions in class -Practical Feedback
10 Monthly Continuous Professional Development Sessions (CPD) 7 Jeffcott Street
West Melbourne
Vic 3003
First Wednesday of Each Month Able to meet with all Mortgage Brokers Lenders and other Professionals
Mrmentor Toolkit

Online24 Hours a DayImproves your professionalism and your mortgage broking outcomes
Your Mentor
Contact FTF
Contact Phone - Text
Contact – Email
Access to Back Up Mentors
FTF – You can bring your laptop into the office and access the office 5 days a week
You can conduct your appointments at the office – you can have a mentor assist you with your appointments
Faster Response to your queries, faster response to your applications. Practical Learning Sessions

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
12 Lessons
Online Delivery
OnlineUp to individual Mentee
Or
Up to Online Mentor
Able to conduct classes and learning at any time form any venue
10 Monthly Continuous Professional Development Sessions (CPD)
Online – You have the ability to listen in to these sessions should you choose to do so
First Wednesday of Each Month Ensures you stay up to date with the latest news from lenders, professionals and gain understanding of the lending market.
Mr. Mentor Toolkit
Online24 Hours a DayImproves your professionalism and your mortgage broking outcomes

Course Overview – 12 modules

Module 1 – The Successful Broker and Funding Summaries

  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. Mortgage Insurance
  6. Acceptable Securities

Module 2 – Serviceability

  1. Living Expenses
  2. Borrowing Capacity
  3. Bank Calculators
  4. Other income interest / pension / family maintenance
  5. Product Selection

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 – The Appointments

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

Module 5 – House and Land Package

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

Module 6 – 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 7 – Marketing  Marketing Basics – Your Sales Funnel

  1. Facebook
  2. Linked In
  3. Google Reviews
  4. SEO
  5. Networking
  6. New Referrers
  7. Word of Mouth Referrers

Module 8 – 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 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. Fast Refinances
  7. After Settlement Process and your role

Module 10 – Credit Scoring

  1. What is Credit Scoring
  2. How will we manage Credit Scoring?
  3. Comprehensive Credit Reporting
  4. Debt Negotiation

Module 11 – Compliance

  1. Why be compliant
  2. The Process and the Fact Find
  3. The Process and Living Expenses
  4. The Process and A Credit Guide
  5. The Process and Privacy Consent
  6. The Credit Quote
  7. The Process and The Credit Proposal and Disclosure
  8. The Process and Best Interest Duty
  9. The Process and The Lender Acknowledgement and Consent
  10. The Process and File Notes
  11. The Process and Referrers
  12. The Process and Gift Register
  13. The Process and Compliance Checklist

Module 12 – Other Loans

  1. Low Documentation Loans
  2. SMSF Loans
  3. Bridging Loans