HSBC Online Home Loan Application Process

Transcription

1 HSBC Online Hme Lan Applicatin Prcess Versin 1.0 Nvember 2005 Cpyright. HSBC Bank Australia Limited 2005 ALL RIGHTS RESERVED N part f this publicatin may be reprduced, stred in a retrieval system, r transmitted, n any frm r by any means, electrnic, mechanical, phtcpying, recrding, r therwise, withut the prir written permissin f HSBC Bank Australia.

2 HSBC Online Hme Lan Applicatin Prcess TABLE OF CONTENTS Intrductin...3 What type f applicatins can I submit electrnically?...3 Benefits...3 Rll-ut...4 Pre-apprvals...4 Supprting Dcuments...4 Submitting an Applicatin nline...5 Re-submissins...6 FAQs fr HSBC s Online Hme Lan Applicatin...6 Cntact Details...7

3 HSBC Online Hme Lan Applicatin Prcess Intrductin HSBC s Online Hme Lan Applicatin allws brkers t submit HSBC mrtgage applicatins electrnically. It is based n the LIXI data structure, which ensures that all data transmitted by bth parties is cncise and prvides all necessary infrmatin fr a cnditinal apprval t be perfrmed autmatically. The standut advantage f submitting nline is the speed f receiving yur applicatin related decisins and apprvals. This will allw yu t prvide nly an indicative lending decisin t the custmer while yu are still in lan interview. Althugh the speed f decisins and applicatin apprval is increased with the nline system, the infrmatin required t meet the HSBC credit lgic requirements has nt changed. All business rules are validated and are cmpulsry befre an applicatin can be successfully received fr prcessing by the HSBC Mrtgage Prcessing Engine. The aim f this dcument is t briefly explain the prcess fr lan applicatin ldgement via the nline facility. What type f applicatins can I submit electrnically? Mst applicatin structures and prducts can be submitted electrnically hwever there are sme exclusins which are listed belw: Cmpany r Trust applicatins; Applicatins cntaining cmpany guarantees; Lans exceeding $1m (the Pririty Brker Unit will cntinue t lk at these manually). Fr the abve applicatins yu will need t print the HSBC lng applicatin frm and fax t either the Brker Relatinship Team r the PBU as per the current prcess. All ther applicatin types and prducts can be submitted electrnically. Benefits Applicatin data is validated by the system befre yu submit applicatins ensuring that all required infrmatin is captured crrectly t make an autmatic decisin abut the deal. Reduces the need fr yu t make multiple calls t yur custmers t btain missing infrmatin. All applicatin data is autmatically laded int HSBC s system therefre reducing turn arund times. First (indicative nly) lending decisin is received within a Service Level Agreement f three minutes. Custmer is therefre taken ut f the market quicker ensuring the deal stays with yu. Regular s ntify yu f the fllwing applicatins status s: Applicatin successfully submitted/received; Cnditinal Apprval; Referred fr Manual Assessment; Uncnditinal Apprval; Declined Withdrawn Lan Dcuments sent t Custmer; Settlement; and Errr Status. Reduced applicatin size The electrnic shrt frm cntains nly a summary f the applicatin data yu have submitted and is therefre nly 3 pages lng. Electrnic ldgement is currently nly available thrugh the brker channel nt HSBC branches.

4 HSBC Online Hme Lan Applicatin Prcess Rll-ut HSBC will be prgressively rlling ut electrnic ldgment t brker grups that are members f LIXI and have an affiliatin with a LIXI cmpliant gateway prvider such as NextGen, Pisces, etc Brker grups that are currently set up t send applicatins t HSBC electrnically are: Australian Financial Grup (AFG); Aussie Mrtgage Market; Mrtgage Chice; and. PLAN (mid-march 06) Brker grups that wish t discuss implementatin f electrnic applicatins need t: Becme a member f the LIXI grup; Negtiate and sign a cntractual agreement with a LIXI cmpliant gateway prvider; Review HSBC s LIXI guidebk ; and Review HSBC s LIXI schema and integrate brker frnt line system. Pre-apprvals Applicatins fr pre-apprvals can als be submitted electrnically even thugh the custmer may nt have fund a prperty at the time f submissin. Prviding the applicatin is submitted as a pre-apprval nly, yu will nly be required t input a suburb and pstcde fr the area the custmer is lking fr a prperty. Unit number and street address, etc can be added as TBA. Yu will hwever need t input an estimated maximum purchase price in the applicatin t allw and LVR calculatin, etc t ccur. The cnditinal apprval advice that yu will receive back will nte the fllwing cnditins in additin t any ther requirements/cnditins fr all pre-apprvals: The apprval is nly valid fr a perid f 3 mnths at the end f which time it will expire and a new applicatin alng with fresh supprting dcumentatin will be required t re cnfirm the apprval. The apprval is Cnditinal n satisfactry valuatin f the security prperty when lcated and that prperty being acceptable t the Bank in terms f its type and/r lcatin and its fitting within the Banks security prperty guidelines at that time. Supprting Dcuments The hme lan applicatin frm fr electrnic ldgements has been reduced frm 14 pages t 3 pages. It is essential that this shrt frm applicatin is signed befre the applicatin is submitted electrnically as this gives HSBC authrity t perfrm credit checks. Electrnic ldgement des nt hwever reduce the supprting dcumentatin requirements fr lan applicatins and therefre HSBC s standard plicy fr supprting dcumentatin will still apply. Yu shuld refer t the dcument checklist printed with the applicatin fr a cmplete list f required dcuments. All supprting dcuments, including HSBC 100 pt ID, Brker Intrductin Certificate and dcument checklist shuld be faxed t alng with the shrt frm lan applicatin within 24 hurs f electrnic submissin t maximize the benefits f electrnic submissin. Failure t n-frward dcuments within this time frame will delay the uncnditinal apprval f the lan applicatin.

5 HSBC Online Hme Lan Applicatin Prcess Submitting an Applicatin nline Cmplete applicatin within brker in-huse system; Print HSBC shrt frm, which includes a privacy disclsure, and btain custmers signature; Applicatin data is validated befre submissin; Applicatin is assessed by HSBC s credit scring system which prvide ne f the fllwing decisins: Cnditinal Apprval Referred fr Manual Assessment Cllect supprting dcumentatin including Shrt Frm, HSBC 100 pt ID, brker intrductin certificate and dcument checklist frm custmer and fax t HSBC alng with signed shrt frm applicatin frm fr verificatin within 24 hurs f electrnic submissin; and Frmal cnditinal apprval prvided by the Brker Relatinship Team. Online Mrtgage Applicatin and Prcessing Brker HSBC Obtain signed privacy declaratin and credit check cnsent frm frm Applicants Cm plete nline applicatin and subm it t HSBC HSBC Mrtgage Prcessing Engine Brker recieves ntificatin that applicatin has been registered and a Cnditinal Apprval Status Brker faxes supprting dcum entatin fr applicatin Brker Realtinship team s cntacts Brker t infrm acceptance f dcum entatin

6 HSBC Online Hme Lan Applicatin Prcess Re-submissins Applicatins that are missing infrmatin in the riginal submissin cannt be re-submitted electrnically. If HSBC requires additinal infrmatin after receiving the electrnic submissin, yu will be required t prvide this infrmatin either verbally r via fax as per the current manual prcess. FAQs fr HSBC s Online Hme Lan Applicatin Q. What happens if I get an errr status message A. There are a number f errr messages that yu may receive, these are listed belw: Errr Status This means that the applicatin either has missing data r has invalid cmbinatins f data. Yu will need t re-submit the applicatin after crrecting any data issues. System Errr (Baycrp Dwn) This means HSBC s link with Baycrp is dwn and n autmated CRAA check can be perfrmed. N actin is required by the brker, as HSBC will perfrm a manual credit check. System Errr (AAPS 21Dwn) This means that the link t ur credit scring system is dwn. Yu will receive a Referred fr Manual Assessment ntice and we will run the apprval manually. N additinal actin is required by the brker. System Errr (System Dwn) This means ur cre system is dwn. This will delay the assessment f the applicatin hwever applicatins will be queued and resubmitted autmatically when the system cmes back n-line. N actin is required by the brker. Q. Hw will I receive the applicatin status messages? A. HSBC will return the status f the applicatin back t yu via an electrnic message. Depending n yur brker grups individual systems yu may receive this as either an message, an SMS message r a cmbinatin f bth. Q. What infrmatin will be cntained in the cnditinal apprval advice? A. The initial cnditinal apprval advice will cntain the fllwing cnditins: Subject t validatin f the supprting dcumentatin; Subject t satisfactry valuatin; and Subject t LMI (if applicable). Once the supprting dcumentatin is received yu may be prvided an updated cnditinal apprval detailing any additinal infrmatin that was missed r is required due t the cmplexity/structure f the applicatin. Q. D I still have t check the supprting dcumentatin? A. Yes, it is still yur respnsibility t check all supprting dcuments prvided match the infrmatin that yu have entered int the electrnic applicatin. Any arrears n lan statements, etc still need t be explained and full ntes need t be prvided t supprt the applicatin. Q. If my applicatin is referred fr manual assessment des my applicatin still get pririty?

7 HSBC Online Hme Lan Applicatin Prcess A. Yes, fr any applicatin that is referred fr manual assessment a HSBC Accunt Officer will cntact yu within 1 business hur t discuss the reasn fr referral and fllw up the shrt frm and supprting dcumentatin. Q. What are yur hurs f peratin? A. Whilst yu will be able t submit applicatins electrnically 24 hurs a day 7 days a week ur prcessing centre will nly be available between the hurs f 8.30am and 5.30pm AEST Mnday t Friday. Q. Wh d I cntact if I am having truble submitting the applicatin? A. Yur first pint f cntact shuld be the IT supprt team within yur rganisatin designated t handle these calls. Yu can als cntact HSBC directly n the numbers nted in the cntacts table belw accrding t the specific issue yu are experiencing. Q. Are there any prducts that require additinal supprting infrmatin? A. Yes, in additin t the Shrt Frm, 100 pt ID, Brker Intrductin Certificate and nrmal supprting dcumentatin Lw Dc applicatins will als require a cmpleted lw dc declaratin frm. Cntact Details The initial cntact pint fr any submissin issues shuld be thrugh the dedicated helpdesk at the individual brker grup that yu are affiliated with as listed belw: Brker Grup Phne AFG [email protected] Aussie [email protected] Mrtgage Chice * [email protected] PLAN [email protected] * Franchisee use nly The fllwing HSBC cntacts can hwever be used if yu are unable t reach yur respective helpdesk: Supprt Service Descriptin Cntact Details Manager Brker Feedback n credit scring Peter Few Sftware issues P: (02) Imprvement f n-line M: prcess E: [email protected] HSBC Brker Relatinship Team Htline Brker Relatinship Team, Manager Enquiries arund cnditinal apprval cnditins Applicatin fllw up Escalatins frm Brker Relatinship Team Htline P: ptin 2 F: E: [email protected] Gerge Duveas P: (03) F: (03) E: [email protected]