Hello Pack
What is the Hello Pack used for?
To gather client information early in the process.
What is File Invite used for?
To collect documents from clients.
What does SmartData analyze?
Bank statements.
What is the purpose of a credit report?
To show a client’s credit history.
What does NCCP stand for?
National Consumer Credit Protection.
What consent is included in the Hello Pack?
Privacy Consent,Credit Guide, Online Fact Find
Can clients upload documents using mobile phones?
Yes
What does SmartData help verify?
Income and expenses.
Name one thing a credit report can reveal.
Defaults, repayment history, or credit enquiries.
Why is NCCP important?
To ensure responsible lending and client protection.
Which feature helps clients stay updated on deal milestones?
Why is file naming convention important in File Invite?
To ensure files are easy to identify and track.
What is one benefit of using SmartData over manual review?
Reduces time and improves accuracy.
How can a negative credit report affect a loan application?
It may lead to loan denial or conditional approval.
What documents can verify a client’s income?
Payslips, tax returns, or bank statements.
How does the Hello Pack support Best Interests Duty?
By ensuring early transparency and client understanding.
What should you do if a client hasn’t responded to a File Invite?
Follow up with a polite reminder
How does SmartData support responsible lending?
By providing reliable data for financial assessment.
Why is it important to review a client's credit report during the loan process?
To verify the accuracy of personal and financial information, detect potential identity theft or financial risks, and support responsible lending by assessing and improving the client’s borrowing potential.
What checklist helps brokers meet NCCP obligations?
NCCP Checklist.
What risk is reduced by collecting client data early through the Hello Pack?
Non-compliance with responsible lending obligations.
What are the potential consequences of mismanaging uploaded documents?
Delays in processing, errors in submission, or data breaches.
What should you check before uploading documents to SmartData?
Correct format (unaltered PDF), clarity, and completeness.
This aspect of a credit report reveals a borrower’s consistency in meeting debt obligations and is a critical factor in determining creditworthiness.
Repayment history
How does failure to meet NCCP requirements impact a broker?
Potential legal penalties and loss of accreditation.