Finance and mortgage broking industry

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FNSFMB501 Settle Applications and Loan Arrangements in the Finance and Mortgage Broking Industry Assessment 2
FNSFMB501 Settle applications and loan arrangements in the finance and mortgage broking industry
Unit Description This unit describes the skills and knowledge required to settle applications and loan arrangements for debt finance and undertake final arrangements to secure and complete the lending transaction for a client applying for a mortgage or related finance.
Learning Outcomes By the end of this unit, students will be able to:
Prepare for settlement
Register securities
Arrange for disbursement of funds
FNS50315-FNSFMB501 Assessment 2 Answers to Questions
Assessment information
You are a practicing settlement agent and are involved in a number of residential mortgage settlements each week.
Instructions to complete this assessment
In order to complete this assessment, you are required to complete the following sections consecutively. Details and specific instructions are provided within each section and on the form/templates provided.
Supporting documents
To find the relevant supporting documents, please refer to the Assessment Resources folder, located within the FNSFMB501 Settle applications and loan arrangements in the finance and mortgage broking industry section of your course. (Note: Not all units have assessment resources.)
Section 1 – Review the Settlement Agent Scenarios Requirements
Step 1: Download and review the Settlement Agent Scenarios, located in the Assessment Resources folder.
Section 2 – Prepare Advice for Clients Requirements
Respond to the scenarios in step 1 and, if necessary, refer to the Conveyancing Policy and Procedure Manual (Assessment Resources folder) when developing your responses:
Re. Scenario 1: As Robbie’s settlement agent: what advice would you communicate to Robbie and how will you assist your client with his settlement problem?
Read Scenario 2, then provide your client with advice about whether a vendor’s pest inspection report should be relied upon at the time of loan settlement.
Read Scenario 3, then advise your client Jane what her legal position is regarding the required devices.

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