Over recent years, many lenders have chosen to customise the way they categorise a customer's living expenses for affordability and serviceability calculations. This presents mortgage aggregators, software providers and brokers with a significant challenge. How can enquiries into a customer's expenses be performed and verified in order to lend responsibly when every lender on the panel demands the data to be categorised differently?
The current departure from the published standards ultimately results in a poor customer and broker experience and leaves room for serious errors.
In this session, learn:
How standardising living expense categories will help provide tools and processes to brokers for expense analysis making loan origination simpler and more efficient.
What the latest changes to the living expense categories are and why they were necessary.
Why previous efforts to standardise the categories were not fully adopted and why the environment is set for adoption now
Check out the incredible speaker line-up to see who will be joining Shane.
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