Thursday, 21 July 2011
Wanna be an Originator Apply here!
So as business owners we have searched for the best of breed and this is the way i see it:
1. You need to be a 100% peoples person – as people will only do business with you if they trust you and like you. So APPLY TODAY
2. You need to be extremely confidential – and this must be legally set out and signed before your start as a consultant or originator.
3. The educational aspect most times means
a. Financial experience – accounting, auditing
b. Understanding income and expenditure
c. Understanding credit risk management, scoring systems, high and low risk
d. Understanding affordability for now and future as rates rise and change and impact on the client
e. Doing due diligence on a client and understanding 100% their involvement, business, employment and exposure
f. Understanding how to read:
i. A balance sheet
ii. Assets and liabilities
ii. Bank statements
g. Understand how to look for fraudulent activities with employer, employee, business and banking
4. Legally a detailed employment contract together with multiple clauses covering the lenders, the originators and the clients is signed.
5. Skills looked for:
a. Banking experience
b. Any finance experience
c. Credit risk management experience
d. Property type experience
6. Lastly, the banking rules change often, so training is needed all the time and you need to be updated and accurate
One of the key things is to declare the truth to the banks as we abide by the banking code of conduct.
The originator warrants that this application and supporting documentation is submitted by the originator on behalf of the applicant/s with the applicant/s knowledge and consent. The originator warrants that the applicant/s have chosen the mortgage originator’s address for delivery of the quotation to the applicant/s. If signed on the applicant/s behalf, the originator warrants that is has been duly authorised by the applicant/s for this purpose. The originator further warrants, to the best of its knowledge, that the documentation / information submitted by the applicant/s in support of this application is not fraudulent, incorrect or misleading.
So this is a serious business..