Actionable Submission Notes Template
Copy and paste this template in to comments, and then fill in your submission notes, when preparing a new application for assessment. This will produce the most accurate and quickest assessment turnaround time possible.
Loan writer’s submission notes:
LOAN PURPOSE BREAKDOWN
CREDIT HISTORY (if known)
REPAYMENT CONDUCT (if refinance/ consolidation) or FUNDS TO COMPLETE (if purchase)
EMPLOYMENT/ INCOME ASSESSMENT
SECURITY PROPERTY OFFERED
SUPPORTING MITIGANTS AND RECOMMENDATION OF APPROVAL
An example has been provided below:
Loan writer’s submission notes:
LOAN PURPOSE BREAKDOWN
Refinance CBA owner occupied home loan $250,000.
Consolidate SGB credit card $3,000
Provide funds for home unit refurbishment being new kitchen and bathroom $20,000 (quotes provided)
Provide funds for a holiday of $5,000
CREDIT HISTORY (if known)
Applicant advises that he is not aware of any adverse listings on their credit history, although did have a disputed phone bill with Telstra in December last year which was resolved within a week. No advices of default were received.
REPAYMENT CONDUCT (if refinance/ consolidation) or FUNDS TO COMPLETE (if purchase)
CBA owner occupied home loan – Last 6 months statements held evidencing a satisfactory repayment conduct. Debits to “ANZ credit cards” relate to a credit card which is now closed- evidence of same imaged into the system.
SGB credit card - Last 6 months statements held evidencing 1 overlimit instance in January 2011- evidence is provided that the account is now in order, and a written explanation of the circumstance has been imaged.
EMPLOYMENT/ INCOME ASSESSMENT
YTD figure on James’s payslips annualise to $60,000. The reason why this does not support his base income used of $80,000 is because his employer’s changed Payroll systems during the financial year, which reset the YTD figures. Overtime not included as received for 6 months only.
Deductions to “Child Maintenance” included as a liability in the system and on the signed application form.
SECURITY PROPERTY OFFERED
Proposed security is client’s owner occupied home unit. The unit is located in a development of 24 units, in Melbourne’s Docklands precinct, and is 52 m squared in living area excluding balcony.
SUPPORTING MITIGANTS AND RECOMMENDATION OF APPROVAL
i) Servicing capacity is achieved as demonstrated via the Borrowing Capacity
ii) Long term stable PAYG employment as a professional of 8 years
iii) Written explanation of the overlimit instance adequately explains the reason for going overlimit, with repayment conduct otherwise sound over the last 6 months, supporting a responsible financial character
iv) Clear credit history
v) Good asset position noted with $100,000 in shares and $90,000 in super held, in addition to owner occupied property, with no additional debts held after the settlement of this loan