If you receive conditional approval on any file, please change the status of the file to conditional approval and do the tasks as prompted.
Check the conditions - confirm if any confusions with the team leader/broker support and email clients.
F/u clients if nothing has been heard back from them in about 5 business days (unless urgent applications that require even quick follow up).
Once the documents/information from clients have been received, email it to bank and push for formal approval.
If you receive pre-approval on any file where the clients have not yet found the property, please change the status of the file to AIP and do the tasks as prompted.
Check the loan amount that we have been pre-approved i.e., is the amount that we applied for matches the amount we have been pre-approved for?
Check with bank for the exact AIP expiry date and enter in mercury "pre-approval expiry" section.
If the loan amount matches to what we asked bank for, email the clients "Your loan is pre-approved" template from mercury along with the documents required.
Keep the AIP f/u 1 task after a month of pre-approval.
Keep the AIP f/u 2 task after two months of pre-approva.
Keep the AIP expiry task before two weeks of pre-approval expiry.
Ensure you check with bank if the AIP can be extended and ask them what documents would be required to do this - email clients once you have an answer.
If the AIP cannot be extended, advise the same to clients - email template to do this below:
Hi [clients name],
This is just a friendly reminder that your home loan pre-approval will expire on XXX date,
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Unfortunately, we would not be able to extend the pre-approval with [Bank] and will need to submit a brand-new application and submit all the documents again.
Please let us know if you want us to move forward with this and we can arrange for a time to discuss the further options.
Regards,