Reminder: Replacing BIG with customer home loan conversation playback
Key points:
From Saturday 26 September 2020 (or as soon as aggregator systems are updated from Thursday 1 October 2020) customers will start to receive an email playback summary of their home loan conversation with you.
You’ll be required to collect a customer’s unique email address and let them know that all applicants will be receiving this playback separately.
Capturing a unique email address for each customer is now a mandatory part of the application process.
You’ll no longer need to submit the Broker Interview Guide (BIG) for new home loan applications.
To help you get submission right the first time and to improve turnaround times, from Monday 28 September 2020 we’re introducing some changes to Loanapp.
Loanapp changes for a seamless submission ID verification
In Loanapp you’ll find a new ID verification option field from which to select which ID method you used – IDyou or Australia Post.
The ID verification option selected as IDyou will drive the supporting document condition which appears in the Supporting Documents tab.
The Document Type list has been updated to align with IDyou and documents are now labelled as Photographic and Non-Photographic.
If Australia Post is selected, no supporting document condition will be required.
COVID-19 commentary
To assist you with providing information about any COVID-19 financial impacts on the customer’s financial position, we have created a dedicated COVID-19 template.
The template will be available via aggregator sites only in Loanapp.
The template should be uploaded to the mandatory Supporting Documents condition.
Alternatively you may upload your notes answering these same questions to the Supporting Documents condition, instead of using the template.
Customer legal name check in Loanapp
Loanapp will check that your customer’s legal name is correctly captured and is the same across all ID documents provided. If there is a discrepancy, you will be asked to verify the customer’s full legal name.
IMPORTANT: Ensuring the applicant’s legal name is captured correctly is an important part of the application process. To determine an applicant’s legal name refer to key primary documents such as a Passport, Birth or Citizenship Certificate.