Don't forget… all supporting documents needed so assessment can begin
It's not uncommon for a customer to need finance 'ASAP'. They've found their ideal property and have committed to buying it even before organising finance. Now you're expected to pull a rabbit out of a hat to make it happen.
Admirably, some brokers lodge an application on behalf of their clients with incomplete supporting documents in the hope of getting the app in the queue and partially assessed – with the intent of providing the remaining documents at a later time. The idea being that this would save time.
Unfortunately, this doesn't achieve the desired goals as, for many lenders, applications can't begin to be assessed until all required supporting documents are received. Incomplete applications simply sit in the queue until all the documents are received before they're reviewed.
Resimac's new Supporting Documents tab in ApplyOnline will help overcome this issue. It ensures the required documents are submitted before an application can be lodged, meaning our assessment teams can work on the application as soon as they receive it.
Our Supporting Document Checklist is also an extremely useful tool to help you set expectations with your customers. The Checklist can be used upfront to outline all the documents your clients need to provide in order to have their application assessed (it also forms part of the Required Documents Checklist and needs to be submitted as part of the application).
Watch one of our Regional Managers, Steve Wallace, navigate this document and make the most of it.
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We apologise for any inconvenience caused.