Client reviews identify ways to improve service and better understand client needs. An annual review is done by updating the client's loan record, calling the bank to gather current details about the loan (e.g. interest rate, current balance, etc.), and making a recommendation to the client.
Below is a suggested client review checklist.
A different article shows you how to enable and configure task and board card review reminders for all broker clients.
Contents
Step 1: Confirm contact details
Open a deal, go to the Applicants widget, and click the arrow.
Expand the Personal Details folder and confirm the information in the following fields:
Preferred Name
Current Home Address
Phone Number (i.e. mobile, home, or business)
Email Address
Step 2: Update review details
Inside the Applicants window, click the three-dot icon next to the applicant's name and select Open in Contact.
The Contact page displays in a new browser tab. Scroll down the page and click the REVIEWS tab in the side menu.
In the Review Schedule window, you can make two changes.
To update the review date for this contact, go to the Next Scheduled Review field and select a different date.
You can also adjust the interval between future reviews. Click the Review Frequency field and select an option. The default setting is 12 Monthly.
Click Save to keep the changes.
Step 3: Confirm security details
Follow these steps to fill in or update security fields.
Open a deal or lead. Go to the side menu, expand the Strategy field, and click the Security tab. A new window displays in the centre of the page.
If you need to create a new security record, click the Add New Security button.
To open an existing security record, go to the table and click a link.
Expand the Property Details and Address folders to add or update information to the following fields:
Property Type
Usage
Purpose
Ownership
Outgoing Lender
Property address fields
Step 4: Order an AVM/desktop valuation
Contact the lender for the security property and ask for a valuation.
Go to realestate.com.au and get the current estimated value of the security property.
You do not need to send the broker a copy of the AVM. The broker will know the AVM result when they review the Valuation tab.
The AVM report is emailed immediately to the admin or broker, which we can update.
If CBA cannot provide an AVM, make a note in the BrokerEngine Notes tab so the broker can decide what type of valuation to order.
Valuation reports go directly to the broker's email. When available, inform the broker so they can forward the AVM reports to the team for updates.
Valuation
Return to the BrokerEngine deal and go to the Security window. If this is the first time entering a valuation, click the Add New Valuation button.
With a new or existing record, expand the Order Details folder. Complete or update the following fields and then click Save.
Lender
Status (Select Valuation Received)
Valuation Type (Select AVM)
Date Ordered
Reference Number
Estimated Value (Enter the value used when ordering the AVM.)
Estimated Value Reason
Step 5: Update the funding and loan structure
Open the deal, expand the Security tab, and click Funding Position. In the centre window, locate the record name, click the three-dot icon, and select Duplicate.
Click the new file name to make it the active funding position. Then click the pencil icon to rename the position (e.g. Review Funding Position).
Call the bank and get the current loan details. Update the new funding position with these values and click Save as Default at the bottom of the page.
Ask the lender for the following information:
Loan current balance
Repayment amount
Interest rate
Product type
Package (if applicable)
Loan account number (if missing)
Loan Type (variable or fixed). Ask for the fixed rate term expiry date and make a note on the Notes tab if fixed. There is also a field on the Loan Structure tab to enter the expiry date.
Repayment Type (principal and interest or interest-only). Ask for interest-only term and expiry date.
The next repayment due date.
Your team should make a note against the contact and notify the broker when the review details are up-to-date.
The broker should review the contact's deal summary page and make a recommendation (e.g. pricing, refinance, no change, etc.). The broker then makes a note with the recommendation (notifying the team members) and moves the card into the appropriate stage on the Reviews dashboard.
Finally, the team member runs the report per the broker's recommendations, makes necessary amendments, and forwards the report to the broker, who then sends it to the client.