Mortgage Consultant Qualifying Certificate for ASIC RG206
This nationally recognised, comprehensive course is recognised by the Mortgage & Finance Association of Australia (MFAA) as suitable for the professional development of mortgage originators. It meets ASIC’s educational requirements for those in the finance industry. Successful completion of this course along with successful completion of the MFAA’s Initial Compliance Pack will fulfil the education requirements for a Finance Broker membership with the MFAA and FBAA.
Options and Pricing:
- A 3-day workshop (small groups to allow for individualised attention), $1295. Click here to see our scheduled workshop DATES. Click here to see our VENUES.
- Distance learning (correspondence study with hard copy of course material express mailed), $895
- Online learning (at home study via NFI’s online course platform), $695
- RPL (Recognition of Prior Learning, ie. experience of 2+ years in residential lending), $695 (application form below)
You have six months to complete the course but you can complete as quickly or as slowly as you wish within this timeframe. This Certificate IV course provides a balance between theory, industry-based case studies and practical skills to deliver results that can be immediately applied in a competitive marketplace. We believe this is what makes our course different from the rest – it’s more than just academic, it provides the practical tools for success in the mortgage industry.
The course has been developed for:
- People who believe they would enjoy working in the mortgage broking industry and are looking to gain not only the formal qualification but the guidance, skills and tools necessary for future employment; or
- People currently working for, or as, a mortgage broker or similar who are looking to formalise their skills and knowledge; or
- People working for a mortgage manager, bank, credit union, building society or similar and are seeking employment (including self-employment) as a mortgage broker; or
- People outside the industry who are considering entering the mortgage broking or lending industry. Click here for the MFAA’s education requirements for membership.
This comprehensive course delivers industry-specific concepts and proven techniques to both aspiring and experienced mortgage brokers. The latest version of the course is FNS40815 and this is provided to all new students. Adopting an A to Z approach to mortgage broking, this course covers a broad array of information, including:
- Introduction to the Australian Mortgage Industry: Licensing and Accreditation; Mortgage Broker Requirements; Finance and Real Estate Terminology; Industry Bodies and Related Organisations.
- Legislation and Regulatory Framework: National Consumer Credit Protection Act (NCCP); Competition and Consumer Act (ex Trade Practices Act); Code of Banking Practice; Privacy Act; Commission Disclosure; Comparison Rates; Code of Conduct (WA only); Financial Services Reform Act (FSRA); Financial Transactions Report Act; Occupational Health and Safety (OH&S).
- Lending Institutions and Loan Types: Banks; Credit Unions; Building Societies; Securitised Lenders; Non-Conforming Lenders; Owner Occupied Mortgage; Residential Investment Mortgage; Bridging Finance; Residential Business Loans; Personal Loans; Commercial Lending; Deposit Bonds; Lender Peripherals.
- Loan Fundamentals: What Influences Interest Rates; Core Lending Products; Loan Features and Packages; Risk Management through Insurance; Negative Gearing.
- Lending Fundamentals and Ethics: The Initial Assessment; The Eight Cs of Credit; Employment/Income Considerations; Qualifying Rates; Debt Servicing Ratio (DSR); Net Servicing Ratio (NSR); Loan to Value Ratio (LVR); Lender’s Mortgage Insurance (LMI); Loan Serviceability Calculators; Statement of Position; Risks and Mitigants; Credit Reports; Non-Resident Lending; Ethical Considerations.
- The Loan Process – From Interview to Settlement: Client Needs Analysis; The Application; Submission and Approval; Settlement; Roles of Each Party; Residential Mortgage Process Diagram; Record Keeping; Filing Systems; Finance Software; Commission Payments.
- Calculation of Fees; Use of Grants and Concessions: Stamp Duty and Other Duties; Miscellaneous Fees; State-Specific Grants and Concessions.
- Understanding Financials and Corporate Entities: Balance Sheet; Profit and Loss Statement; Corporate Entities; Self-Employed Client and Case Study.
- Productivity and Marketing Skills: The Design and Production of Business Documents; Time Management Strategies; Goal Setting Techniques; Effective Communication; Prospecting for Mortgage Business; Prospect Enquiry Strategies; Interviewing Techniques; Client Retention Program.
DURATION: Trainees have six months in which to complete their course but the structure of the course is such that the course can be completed as quickly or as slowly as a trainee prefers within this time. Those with some experience will complete more quickly than those without.
This program allows three flexible delivery options to suit your needs, including:
- 3 day face-to-face workshops at appointed venues (offered in all major Australian cities). Click here to see more information on our venues.
- Distance education (self-paced correspondence), fully supported by phone and email
- Online e-Learning – study online at your own pace, fully supported by online forum, phone and email
Please refer to the Fact Sheet for further information and pricing regarding this course.
- Fact Sheet (pdf)
- Scheduled Dates
- Cert IV Extension Request Form for existing students (pdf)
- RPL Application form (pdf)
- ENROLMENT FORM – if you are unable to access our online enrolment process using the green Enrol Here button you can Click here to access an enrolment form as a pdf (which you can fax, mail or scan/email).
CENTRELINK ASSISTANCE – NFI’s Certificate IV courses have been approved for Centrelink Student related assistance. Generally trainees are required to enrol in and undertake a course on a full-time basis and make satisfactory progress toward completing their course. Students who wish to study part-time should contact Centrelink to determine eligibility for assistance. Click here for information on what Government financial assistance may be available to you.
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