Mortgage Credit Analyst

Company Overview:

Outsourced Experts is a forward-thinking company dedicated to empowering small businesses through exceptional outsourcing services. Our mission is to help these businesses reach their full potential, and we pride ourselves on offering comprehensive paid training to ensure our team members succeed. Enjoy a balanced work schedule with weekends off and be part of a dynamic team that values your growth.

Position Summary:

As a Mortgage Credit Analyst at Outsourced Experts, you will play a crucial role in evaluating the creditworthiness and risk profiles of individuals or businesses seeking mortgage loans. Your analytical skills will help determine whether to recommend clients for credit approval, ensuring that the lender's interests are safeguarded while maintaining regulatory compliance.

Key Responsibilities:

Income Calculation:

*** For PAYG Customers: Determine income by analysing payslips, including hours worked and pay rates.

***For Self-Employed or Business Owners: Calculate income by examining Individual Tax Returns (ITRs), Company Tax Returns (CTRs), business financial statements, and Notices of Assessment (NOAs).

Loan Packaging:

***Prepare Submission: Assemble the loan package for lender review by generating comprehensive Credit Proposal Disclosures.

***Create Summaries: Develop detailed loan submission summaries outlining the loan structure, purpose, security, and Loan-to-Value Ratio (LVR).

***Income Breakdown: Include a thorough breakdown of the client's income, specifying calculation methods and sources.

***Exit Strategy: Draft a detailed exit strategy, presenting options for managing loan repayments at retirement.

***Approval Conditions: Clearly outline the conditions required for loan approval.

***Expense Analysis: Provide a detailed breakdown of the client's monthly expenses.

***Client Notes: Include extensive notes on the client's circumstances to offer a complete picture.

• Assistance: Assist colleagues, when necessary, in addressing Missing information required at submission and approval stage
• Re-assessment: Re-evaluation of clients circumstances when necessary should it change post loan packaging stage

Scenario Analysis:

Conduct comprehensive research to identify the most suitable bank for the client by evaluating their financial circumstances, income, preferred lending strategy, and overall financial position. This involves:

***Assessing Financial Circumstances: Review the client's financial situation, including income sources, liabilities, and assets.

***Evaluating Lending Preferences: Consider the client's preferred lending strategy and loan features.

***Analyzing Financial Position: Examine the client's financial position to match with suitable bank policies and loan products.

*** Researching Bank Options: Compare various banks' offerings to find the best fit for the client's needs, ensuring alignment with their financial goals and circumstances.

Living Expenses Analysis and Validation:

Conduct a detailed review of the client's declared living expenses to:

***Assess Applicability: Evaluate which expenses are relevant based on the client's circumstances and loan strategy.

***Compare to HEM: Determine if the declared expenses are in line with, exceed, or fall below the Household Expenditure Measure (HEM).

***Ensure Accuracy: Validate that the reported expenses accurately reflect the client's financial situation.

Review Broker Notes:

***Examine Details: Carefully read and analyze the broker's notes to understand key aspects    of the client's financial profile and loan requirements.

***Identify Key Information: Highlight important details, such as client preferences, specific needs, and any relevant observations or recommendations provided by the broker.

***Integrate Insights: Incorporate the insights from the broker's notes into your analysis to ensure a comprehensive understanding of the client's situation and to tailor the loan strategy accordingly.

Data Management:

***Opportunity Creation and Updates: Create new opportunities in the CRM or update existing ones to reflect any changes in the client's circumstances.

***Accuracy Verification: Ensure all details in the CRM are accurately matched with supporting documents, such as IDs and bank statements, for consistency and correctness.

***Ongoing Maintenance: Regularly review and update client information to maintain an accurate and current CRM record.

Financial Position Validation:

Conduct a comprehensive review of the client's savings and loan statements to verify the accuracy of declared monthly expenses, assets, and liabilities. This involves:

***Reviewing Financial Statements: Examine savings and loan statements in detail to ensure they accurately reflect the client's financial status.

***Verifying Accuracy: Confirm that declared monthly expenses, assets, and liabilities align with the information provided in the statements.

***Ensuring Consistency: Check for consistency between the client's declared financial details and the supporting documentation.

UMI Completion:

Prepare precise and compliant UMI (Universal Mortgage Identifier) reports by thoroughly analysing the client's financial position, circumstances, and documentation in accordance with bank policies.

Folder Management:

***Organize Client Folders: Efficiently manage and organize client folders to ensure all documents are correctly filed and easily accessible.

***Redact Sensitive Information: Carefully redact Tax File Numbers (TFNs) and other sensitive information to maintain privacy and compliance.

***Prepare for Submission: Assemble and prepare files for submission, ensuring all necessary documents are included and properly formatted.

Email Draft:

Prepare email drafts to be sent to clients, clearly outlining the following:

***Lending Strategy: Provide a detailed explanation of the proposed lending strategy, including key aspects of the loan and how it aligns with the client's needs.

***Approval Conditions: Specify the conditions required for loan approval, ensuring the client understands all necessary steps and requirements.

***Next Steps: Include any next steps or actions required from the client to proceed with the loan application. Ensure the email is clear, concise, and professionally formatted to effectively communicate the information.

Regulatory Compliance:

Ensure strict adherence to mortgage loan regulations and company policies by: Keeping abreast on relevant mortgage regulations and industry standards and ensuring that all client files and loan applications are accurately completed and comply with legal and company standards.

Recommend:

***Provide Guidance: Offer expert advice to brokers on loan applications that deviate from standard lending policies or require exceptional consideration.

***Highlight Exceptions: Identify and articulate any areas where the application falls outside typical guidelines and provide insights on potential solutions or alternative approaches.

***Suggest Strategies: Recommend tailored strategies or adjustments to address any issues and facilitate a favourable review of the application.

Credit Checks:

***Conduct Comprehensive Reviews: Perform thorough credit checks to assess the client's creditworthiness.

***Analyse Results: Carefully review and analyse credit reports to identify key factors, such as credit history, outstanding debts, and payment patterns.

***Ensure Accuracy: Verify the accuracy and completeness of the credit information to support informed lending decisions.

Detail Orientation:

Maintain a high level of accuracy and attention to detail.

Multi-tasking & Time Management:

Manage multiple tasks efficiently while meeting deadlines.

Qualifications:

• Educational Background: Bachelor's degree in Business Administration, Finance, or a related field, or at least 2 years of robust experience in Australian mortgage processing.
• Experience: Minimum of 2 years of experience in Australian mortgage credit analysis.
• Communication Skills: Excellent written, verbal, and interpersonal communication skills.
• Analytical Skills: Strong critical thinking and innovative problem-solving abilities.
• Technical Proficiency: Highly computer literate with proficiency in MS Office, Nexus, Apply Online, and related business tools.
• Organizational Skills: Exceptional organizational and time management skills with meticulous attention to detail.
• Mindset: Strategic thinker with a creative approach to problem-solving.