Unit of competency Outline

Date retreived
23/07/2026 7:01 AM AWST

Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.

Prepare loan application on behalf of finance or mortgage broking clients

Prepare loan application on behalf of finance or mortgage broking clients

Unit of competency
National Code
FNSFMB401
State Code
AUR04
TGA Status
Replaced
DTWD Status
Replaced
Current Release Number
1.00
Current Release Date
25/03/2015
View on TGA
State Implementation and Classification
Approved Date
16/09/2015
Field of Education
081101 - Banking And Finance
Original Release Date
16/09/2015
Nominal Hours
20
Description
This unit describes the skills and knowledge required to prepare a client loan application to a relevant lender, and present and process the loan using appropriate channels. Assistance with loan settlement may also apply.It applies to individuals who use analytical and organisational skills to complete administrative requirements and use interpersonal skills to work effectively with a range of clients and personnel.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Notes
Elements and Performance Criteria
1. Compile necessary information
  • 1.1 Collect and complete appropriate and relevant lender forms and gather relevant signatures in appropriate format
  • 1.2 Source information required to support loan application in accordance with National Credit Code, compliance requirements and security policies
2. Prepare loan documentation
  • 2.1 Prepare documentation that accurately reflects client’s financial situation and personal information, and complies with lender requirements and guidelines
  • 2.2 Confirm basic requirements of loan, including amount, term and interest rate, and check all documentation for accuracy and readability
  • 2.3 Complete all relevant processes for proper execution of documentation efficiently and in an appropriate timeframe
3. Present documentation for assessment
  • 3.1 Submit documentation to appropriate lender or approving officer in appropriate manner to protect client confidentiality
  • 3.2 Notify client in timely manner of lender or approving officer's determination of offer or non-offer of loan
  • 3.3 Provide clear, comprehensive and accurate information to client on their rights, obligations, responsibilities and manner in which to proceed if loan application is non-offer
4. Maintain communication with relevant parties
  • 4.1 Maintain clear and open communication throughout loan preparation and presentation process with lender and client
  • 4.2 Gather additional information requested by lender to support loan application in efficient and timely manner
  • 4.3 Provide clear, comprehensive and accurate information to client on manner in which to proceed immediately following loan approval
No information
No information
Replaces
State Code National Code Title Type
D4102 FNSFMB401A Prepare loan application on behalf of finance or mortgage broking clients Unit of competency
Replaced By
State Code National Code Title Type
OCZ69 FNSFMB411 Prepare loan applications on behalf of clients Unit of competency