Residential Mortgage Broker Mentoring

Residential mentoring Program

There are 2 Delivery modes for the Residential Mentoring Program. 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

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
12 Lessons delivered by Trainer / Mentor7 Jeffcott Street West Melbourne Vic or Zoom Meetings
Weekly or Individual Schedule tailored to your needs• Able to meet with other Mentees in person
• Q&A sessions in class Practical Feedback Immediately
Continuous Professional Development Sessions (CPD)7 Jeffcott Street West Melbourne Vic or Zoom Meetings• Weekly Fortnightly or Monthly - (No sessions in December or January)Able to meet with all Mortgage Brokers Lenders and other Professionals
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
FTF – You can bring your laptop into the office and access the office 5 days a weekYou can conduct appointments at the office – you can have a mentor assist with your appointments Your Mentor will insist on reviewing your first 10 Loans before Submission• 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

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 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. 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. 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. The Financial Calculator – Comparison Rates – Annual Percentage Rate (APR)
  6. The Lending Product Maze – Types of Loans
  7. Product Comparisons
  8. 10 Lending Tips for your Clients – Helping them make the most of their Loan

Module 5 – 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 The Compliance Checklist

Module 6 – 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 – 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 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 – Marketing

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

Module 10 – 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 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. Fast Refinances
  7. After Settlement Process and your role

Module 12 – Credit Scoring

  1. What is Credit Scoring
  2. How will we manage Credit Scoring
  3. Comprehensive Credit Reporting
  4. Debt Negotiation
  5. Open Banking – Online Lending

Module 13 – Other Loans

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