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Loan by Loan
The Processing:
Supporting Brokers throughout the loan process by taking on the administrative tasks required to complete, submit and track through to settlement each loan application.
STAGE 1 - PACKAGING
Broker to complete the following tasks before we start packaging an application
- Qualify your customer and take the necessary steps to complete your aggregator compliance requirements and best interest duty, select the lender and product and confirm the customer is happy to proceed.
- Provided RBS with your Broker/Loan Notes and any supporting documents you have received from your customer. RBS will provide a format to assist.
- RBS will then finalise the CRM and complete Apply Online/LoanApp/Lender Protal.
- RBS will generate the Lender checklist, loan application forms, Credit assessment and discharge forms for signing.
- Once the Customer returns the signed credit assessment and application forms, RBS will finalise the application and advise you that the application is ready for review and submission.
RBS can assist you with the following if required:
- Prepare FHOG/HGS forms
- Order valuations
- Submit pricing requests
Prepare a servicing calculator (if you have not done so already). Broker to provide figures required for entry. - Generate credit reports from Broker’s aggregator software
STAGE 2 - Loan Application Tracking
RBS will complete:
- All lender, solicitor and conveyancer follow up from submission to settlement, including updating milestomes in Broker CRM, if applicable.
- Provide the Broker with regular updates.
- Missing information requests: RBS will liaise with the broker to obtain any outstanding information required from the bank. If the missing information is credit critical, we will liaise with the broker to work out the best course of action.
- Send outstanding documents to the lender when provided by Broker.
STAGE 3 - APPROVAL
- RBS will email the Broker the formal approval letter and outline the next steps.
- RBS will complete all associated tasks for the Discharge and make sure the OFI is ready for settlement.
- Broker to assist customers with Loan Documents sign up.
STAGE 4 - SETTLEMENT
- RBS will liaise with all parties to ensure the file is ready for settlement and provide the Broker regular updates and final settlement data.
