Home Loan Process Quiz
Home Loan Process Quiz
Welcome to the Home Loan Process Quiz! Test your knowledge on the essential steps and considerations for home loan applications. This quiz is designed for individuals involved in the lending industry or those who want to improve their understanding of the process.
- 11 Engaging Questions
- Multiple Choice Format
- Assess Your Knowledge
Sub notes say first home buyer - what do you?
Yes , no
No , no
Yes, Yes
No , yes
Submitter notes indicate that applicant is going to demolish and rebuild their house. The property is set as 'House' on RLS as demolition has not yet occurred. How do you set the loan purpose?
Construction - Build
Construction - Major Renovation
Other - Major renovation
Other - other
Applicants have not delcared afterpay account on SP - however submitter has stated they do have an account with a limit of $2,000 how do you proceed?
Add it on RLS and make a note
Address to CAD
Ignore it - not flagged by EV
When do we need a letter of closure?
Debt consolidation + Cancelling of OFI CC
Debt consolidation + Cancelling of ANZ CC
Cancelling of OFI CC
Cancelling of ANZ CC
The applicant has requested an LMI waiver and their occupation is confirmed through AHPRA, however the option to apply a waiver is not available. Where do you go to fix the problem?
Customer Details
Manual refresh from CAP
We don't fix it - CAD to address
Restart RLS
Applicants are buying a property - it has been entered as 123 TBA street. The SP states they have $10, 000 in OFI savings and $120,000 for contribution paid on deposit. The required FTC to complete the purchase is $90,000. What do you do?
Verify contribution as per SP
Do not verify contribution
You have 2 duplicate properties on RLS. Both have real ANZ loans attached to them. Which do you 'Flag as Duplicate'?
The property with a higher loan amount
The property with a higher value
Either one , it doesn't matter
Neither, CAD to address
A son is buying a house from his father. Only a fully executed transfer of land is held. Is this acceptable?
Yes
No - require stat dec
No - require contract of sale
No - CAD to address
UMI living expenses are higher than SP, however UMI calculator does not give break down of living expenses. What do you do?
Add difference to Primary running costs
Add difference to groceries
Add difference anywhere and make a note
Loan is attached to OO and investment property - Can we set it as fully tax deductible?
Yes
No
Address to CAD - not my problem
Commercial is ticked on HLIG and there is a commercial loan. This app is doing an OO ANZ refinance. Can we work on this app?
Yes - Address to CAD
No - we don't do commercial
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