Country : Australia
Assignment Task :

Case study 3 — Mary Jane Smith

Task 1 — Prepare and check a loan application

Mary Jane Smith is a young professional, excelling in her career within the IT industry. She has saved hard and is ready to purchase a property of her own. Her objective is to pay the loan down quickly and then use the equity in the property to purchase another. She would like to build a small property portfolio over the next eight to 12 years.  You have met with her a few times and exchanged several emails and telephone calls. She has complimented you on a few occasions for the service and guidance you have provided so far.  Mary has been cautious in finding and then negotiating the purchase of this property. It is now time to get an application to a lender. You have gathered appropriate documents and completed all necessary checks. Everything is looking positive to proceed. 
1. Using the details in the Example Fact Find for Mary Jane Smith in the Toolbox, prepare a loan application by completing Appendix 3 in this written assignment.                                                       

2.  Using the following list, select which basic items below will need to be gathered from Mary as the supporting documentation necessary for her loan application:

 

3. Before submitting Mary’s loan application, you must check her details thoroughly to ensure accuracy. Using the following two items available in the toolbox, check that the personal details and current employment details section of Mary’s Fact Find document and loan application are accurate and identify three (3) errors. Write your answer in the box below.
•example driver’s license
•example pay slip.
4. Refer to the ‘Example of an Organisations Policies and Procedures’ document in the toolbox and provide at least two examples in each question of how Mary’s loan application complies with each of the below:
(a)The organizational credit policy.

 

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  • Uploaded By : Grace
  • Posted on : February 12th, 2019
  • Downloads : 238

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