Melbourne events
Who were the top 3 placers for Steptember last month?
- Jaskaran
- Vi
- Neha
Applicant wants to consolidate 2 credit cards (Total limit: $45000 and 1 Car loan (Limit $20000). The total cash out is $65000. How do we proceed with this deal (standard, ECR or Override) ?
- Proceed with ECR applied (if no other red flags)
What are 3 types of unacceptable purposes for Equity release/Cash out?
Consolidating large unsecured debt
Gambling
Maintain lifestyle
Meet repayments on existing commitments
Development finance
Tax debt
Any illegal activities
What is the name of Chris' band?
Torrential Thrill
Who posts the "This or That Thursday's" on the Credit Hub slack channel?, we need the full name.
Name 5 activities that has been ran be the Melb Social Committee so far this year?
Chess
Mario kart
Jeopardy
Bake off
World cup tipping
Output playoffs
Steptember
For a "knockdown/rebuild" scenario treated as a cash-out loan, if the LVR is 80% or below, what value is used for the calculation?
Land value ONLY
What are 3 types of unacceptable forms of genuine savings evidence?
- Any form of loan
- Gifts and inheritance (Not held for 3 months
- Projected savings, savings plans and/or rental purchase plans of any type
- Savings, shares or managed fund units held for less than 3 months
- Sale of assets other than real estate or investments where equity has not been held for 3 months
- Rental savings plans
- Funds held in a business account (Unless held for 3 months in personal account prior)
What is the total number of pets combined owned by the TLs in VIC?
0
Dad joke: "What do you call a fake noodle?"
An impasta!
Who was the guest speaker for "Wear it Purple week"?
Mitchell Brown - First AFL player to come out as bisexual
When reviewing an exit strategy, if an applicant plans to sell assets held in an SPV or SMSF to clear debt, what should you do?
Confirm ownership and entitlement by reviewing the latest accountant-prepared financials.
What is the maximum land size when LVR =/> 70% (subject to location category limits)
20 Hectares
- Oli (Helpful Handle Time Hints)
- Hani (Output playoffs)
- Sanjana (This week in Melbourne Credit)
- Chris (Wednesday Earworm)
Name 3 for CAs/TLs who received their DLA 5 in September and October? Cant name someone in your own team
- Brendan
- Sophie
- Jas
- Deneka
- Amira
- Liam
- Haider
- Erin
- Hani
The refer reason 'R_271 Owner occupied strata and body corporate fees are low' flagged given nil strata fees declared.
Broker comments in the Financial tab notes this is incorporated within Primary Residence Costs of $250 per month
Seek further clarification from the Broker given low Primary Residence Costs declared
What would be required for a not true CAT 4 located security with 67% LVR?
- Short form valuation
- [O4] DLA_6 & above. Override
- Evidence of proximity to Cat 1/2 locations
Name 3 team members of Melbourne Credit who celebrated their birthdays in September? Atleast 2 outside of your own team.
- Erin Fischmann
- George Maragoudakis
- Walter Neo
- Matthew Spessot
- Jane Nalayah-Seirlis
- Ashlea Harvey
With Ryan Reminding us to "Edit and resub for Rate change", What is the lowest variable rate we offer currently as per the rate card?
OO and IP included
6.29%
Name 5 CAs that participated in the Melb Bake off and what they baked, name atleast 3 outside of your team :)
- Vi (Pandan cake)
- Selween (Chocolate Mouse Cake)
- Hani (Cinnamon scrolls)
- Erin ( GF Carrot cake)
- Sally (Chilean cake)
- Deneka (Friands)
- Liz (Carrot cupcakes)
- Jamie (Zucchini Fritters)
- Acqua (Cookies)
- Momin (Brownies)
- Mystery person (almond cookies)
If CA conditioned for Centrelink statement to evidence Family Tax Benefits A + B and a bank statement is also provided during doc review, what do we need to review?
-Centrelink statement AND bank statement
What are the 5 requirements for Family court maintenance?
- Agreement is registered with the Child Support Agency and a copy is provided to MBL OR court order
- Six month’s consistent payments as evidenced via the borrower’s bank account statements.
- Maintenance payments are considered permanent for the next five years
- Dependent child must be under 11 years of age at the time of the application.
- Cannot be sole source of income.
Who on the Melbourne credit floor is a cricket umpire during summer?
Andrew!
Welcome to the Melbourne team!
In Jess' latest post in the credit hub slack channel, we hit a record breaking AHT on Thursday last week, what was the time?
40.99 Minutes ( accepting 40 or 41 )