I’ve just had a credit assessor email me ‘the client was bankrupted 3 years previous, this has not been noted in finance application – why not?’
possible answers –
a. he forgot?
b. oh, did i have to answer all the questions i asked honestly?
c. do they do a credit check??
d. brain explosion?now i’m having the bank question my integrity – (maybe i should employ answers a thru d for my defence – yeah – that’ll work…
some days a broker should…… any suggestions from the forum?
cheers
brahms
If you don’t ask, the answer is no!!
Brahms you darling sweet thing!
Never been lied to before by a client?
Tell the bank (a) he forgot and they will understand! In my experience they do not question your integrity, they know clients lie! Go to GE or Bluestone and good luck.
Somedays a broker should just…
a) call it a day[weird]
b) Have a brain explosion[wacko]
c) drink a whole bottle of wine[tongue]
d) cry[worried]
e) all of the above[upsidedown]Liz Wilson
Mortgage Lender
Brahms
I don’t think the financier is suggesting YOU lied, they have asked a fairly simple question once they found something unexplained on the credit check.
How about – well, the client didn’t inform me of that fact and therefore I didn’t put it on the application.
Truth is good!Keep smiling
Felicity
Brahms
This happens a lot, not usually bankrupts, but defaults etc. So you have now wasted a lot of time on this persons application. A way around it is getting direct access to Baycorp and do a credit check yourself before doing any work on the file.
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Terry, can you get direct access to Baycorp as a broker? That would be handy… I guess the alternative is to get the client to order it, it’s free if they can wait a week.
I just tell my clients that the bank does a credit check so they may as well tell me if they know of anything (not in such blunt words of course).
Even THEN I have still been lied to about having a clear credit report – my client had TWO defaults, but I forgave him…. and he still got his loan [biggrin]
Liz Wilson
Mortgage Lender
It’s happened to me also. If a client knowingly lies to me I will never deal with them again (and I probably won’t help them with the deal we’re working on). There are no excuses. I only want to deal with honest and ethical people. I am honest with every client so they should pay me the same respect.
Brahms, stand firm on this one. Too many people tolerate dodgy people.
Cheers
Stu
Stu,
You have a point, although I forgave my client as he was NESB and very confused about how he had a bad CRAA…
I think once you get past the lies you can move on to correcting their course of financial freedom.
Perhaps I am of too forgiving a nature…[ohno2]
Liz Wilson
Mortgage Lender
Liz, in my opinion, there are enough honest clients around not to waste my time with dishonest ones. Honesty and integrity is something that is of utmost importance to me.
Cheers
Stu
Thanks guys – we’ve been able to supply full details, notes on circumstances, and as its 4 yrs ago and not too long to fall off cra – bank has approved and docs prepared.
Oh, and had the audacity to complain about the lost days and inconvenience!!!!
Better not get a claw back or i’ll really go off..
Boy oh boy, thank god for the good ones.
cheers
brahms
If you don’t ask, the answer is no!!
Liz
yes brokers can get access through Baycorp (they also offer access of many other things, title searchs, ASIC director searches etc). But everytime you check, there will be another entry which doesn’t really look too good on the poor clients record. So it is better to get them to order their own.
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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