A client funding position provides a single point of reference for building product scenarios and reports.
Contents
Prerequisites
None.
Adding a funding position
To create a funding position for a lead or deal:
Open the lead or deal in full view mode.
Locate the Strategy Heading in the sidebar - click to expand the section.
Click the Funding Position heading
Click Add New Funding Position. A new window displays.
In the new window:
Enter a unique name. (For internal use. This helps you differentiate multiple funding positions.)
Select a Deal Type.
Select a Lender.
Click Save or Save As Default. A new form displays.
Click Save As Default to use this funding position in product scenarios and reports. Click Save to keep the new funding position as an alternative option.
Filling in the Lender and Package section
Confirm the Lender field selection or select a different option. BrokerEngine updates the Package drop-down with a list of lender options.
Click the Package field and select an option.
Set a Fee Frequency and Fee. (optional)
Select a loan purpose.
Enter details important to the client.
If the loan purpose is Owner Occupier or Investment, BrokerEngine updates the Loan Purpose field on each Loan Split to save double data entry.
Filling in the Funding Position Detail section
Enter numbers for the Valuation and Purchase Price. BrokerEngine compares the valuation number with the base loan amount to calculate Base LVR and Post Cap LVR.
Fill in the other fields.
If available, click the Show Details link to display a breakdown of component costs.
If available, click the calculator icon to calculate a value. The calculator opens in a popup window.
BrokerEngine displays the balance between costs and funding at the bottom of the section.
Calculating government fees and grants
Click the calculator icon next to Stamp Duty to estimate government grants and fees payable for the purchase.
Select the state or territory of the property.
Enter the required information.
Click Apply. BrokerEngine adds the fees and grants to the funding position.
Adding loan splits
Fill in these fields if the client needs more than one loan split. Click Calculate Loan Splits to copy the loan data information you entered above. Enter information about the first split.
Click Show Account & Repayment Details to expand the section. Click a field, select an account you have already created, or add a new one. If required, click Add New Loan Split and enter information about other splits.
BrokerEngine calculates the loan splits and displays an alert if they don't match the total loan amount.
Saving the funding position
Click Save As Default to save the funding position as the standard position for product scenarios and reports. Click Save to use the new funding position as an alternative.