PAYG
NTB Customer is employed casual for 2 months in current role . Previously was employed casual for 1 month . No gap in employment . Prior to same was employed for 3 months casual. Gap in employment was 20 days . What action will you take ?
Considering no stability we will need customer to complete 6 months in current role before offerring a PL .
Customer listed other income which she receives from husband, can we proceed?
Ans: No
1) Name the Sanction countries?
Cuba, Iran, North Korea, Syria, Crimea,
Name any 3 unacceptable LP .
Answer: paying for visa, buying/deposit a property, set up a business, illegal purpose,
Meal card salary sac will it be
taxable or non taxable addback
Ans: Non taxable addback
Customer is employed with partner’s company as a manager and is getting paid as wages per month. What are the documents required for IV within policy? *
3 months of salary credits; and
- Individual tax return as well as ATO Notice of Assessment/ATO Income statement to be within 18 months of SP date.
- The lower amount from the documentation provided below will be applied:
App referring for Income verification customer gets income from FT job and other income from Centrelink
FTB A & B, What is the Centrelink Inc verified and Criteria? What is that we need to ensure is expensed on SP
FTB part A $100
FTB part B $352
Energy supplement $60
Rent assistance $120
Deduction $100
A: Inc verified 100 + 352 – 100 = 352
353*26/12= 762.66. List dependant as per clink doc.
check if rental expneses is declared in SP
A: Inc verified 100 + 352 – 100 = 352
353*26/12= 762.66. List dependent as per clink doc.
check if rental expenses is declared in SP
what is the policy regarding acceptance of VEVO document ?
A: Need to ensure customer has send in the document and the VEVO check date should be within 60 days of SP date
Jacob wants to avail a PL of $20k to invest in cryptocurrency. Can we proceed ?
A: No we cannot
2) If a customer is paid through Cheque and the customer deposits in bank. We have bank statement which states income as “CBA Pay/transfers”. We can consider this and finalize the application?
A: NO we cannot consider this Income.
What is the Policy around accepting income from a recently approved mortgage/cc ?
Ensure income has been verified and application has been approved
- Ensure income verification was completed in the last 80 days
where
-Income in the Personal Loan app is higher than the income verified via the Mortg/CC app, use the figure in the Mortg/CC app
-Income is equal to, or within 5% less than, the income verified in the Mortg/CC app, use the figure in the Mortg/CC app.
-Income in the Personal Loan app is less than 95% of the income verified in the Mortg/CC app, the figure in the Mortg/CC app cannot be used. New income verification documents will be required.
Customer listed Other income from pension office of Austria. Docs held in file and
regular credits sighted into ANZ. Can we proceed?
A: Not acceptable under policy
3) Customer has submitted the following., Is this sufficient, Can I proceed,
Income documents, Visa- Bridging Visa A, Grant- 01/04/2021, PP- **** Iraq?
Ans: Yes we can proceed, as Iraq is not a sanctioned country
Customer needs loan to help family in overseas to maintain their daily expenses . Can we proceed with the loan ?
A: No we cannot proceed
1) What sensitive customer details needs to be masked on documents? Name any 3
Ans : TFN, CRN, PNR,
Name the components that are used after Shading
OT, Commission and Bonus
2) Portfolio statement received with a market value of investments is $500000 dated 19/04. How do we verify Income. Is this Document sufficient OR do we need more supporting docs as per policy.
: We will use the DNA to verify Income. Under Interest and Dividend Income.
Update $500000 under Asset value- NPM derived- 1260
This alone is not sufficient, we need the ITR and NOA latest). The above
Income needs to be compared to the dividend received on the ITR.
The lowest amount is considered.
Can we proceed with the loan application if received passport is about to expire ?
Answer: Yes we can proceed
Purpose debt conolidation CBA 20k
CBA pl RHI :
Year 2021 2021 2021 2021 2021 2021 2021 2021 2021 2021 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020
Month OCT SEP AUG JUL JUN MAY APR MAR FEB JAN DEC NOV OCT SEP AUG JUL JUN MAY APR MAR FEB JAN Status P P 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Do we need to ask for recent 2 months statements or we can proceed ?
Ans: We can proceed as customer' willingness to
repay and character is proven from previous long records.
what is the actin required if there is a BAN period in the customer' credit report?
Ans- need to refer to fraud
Given Please calculate Income? Pay Period : 22/05-04/06
INC VRFD USING NET YTD- 136,023.51
INC VRFD AS 18813 GPM
TOTAL- 225759
BASE INC- 7,024.94 PER FN GROSS
WHICH IS 15273 PM
TOTAL- 183276
225759- 183276 = 42483/26= 1634 PER FN
FACTORED THE SAME UNDER COMM PER FN
UNDER A1 CALCULATIONS
INC VRFD AS 15261 GPM
OTHER INC- 2306
6) If rental income is into DDA account or OFI account and if there are variations in payments over the last 3 months how do you verify income?
A: In the event of fluctuating credit payments, use the highest amount over the previous 3 months.
Jack was on 500 visa, he holds an UK PP, Jack is currently now on Bridging visa A , has applied for a 482 visa ? What action will you take ?
Ans: Jack's education and line of emp needs to match, Loan amt : max 20K, if bridging visa is approved within 1 yr loan term is 2 yrs and if approved more than 1 yr back loan term will be 1 yr
Customer selling property in NZ, he is in the process of buying a property in QLD. Purchase price is $500k and NZ property selling price if $470k . Customer applies for a PL to cover the shortfall . Is this acceptable ?
A: No it is not an acceptable LP
Our customer Jenny is living with her daughter Trisha. She pays Trisha $50/week as goodwill money for letting her stay in her house . If you list the same as rental expenses UMI will go negative . Customer is asking you to remove the same . What will be your action ?
A: BOSL should be updated as Boarding and rental expenses should not be removed .