Update on Current SLA Timeframes

The LOS team continues to work through our current workflow as quickly as possible, with the majority of our refinance backlog cleared.  We currently have 83 files remaining.

We appreciate your continued patience and understanding during the time it has taken us to work through the backlog.

Please reach out to your BRM if you have any questions or concerns. You can also stay up to date via your Service Centre in the Broker Portal. The Modified Date will identify the date the file was last worked on.

Refinance Pipeline position as of 1^st February 2024: 

Current Status: Application Submitted
We are now back to our normal process and timeframe for file allocation. Purchase files with finance dates continue to be prioritised and refinances are being worked on in order of date received, provided that we have received correctly executed privacy consent and application form documents on submission (i.e. all documents have been ‘wet’ signed). 

Current Status: Verification
The team is finishing files submitted on the 8^th and 9^th January 2024 this morning and will also commence working on files submitted on the 10^th January, completing the verification process and issuing MIRs within the next 24-48 hours. 

Current Status: Verification - Review Returned Documents
Files issued with MIRs that had outstanding documents returned up to and including the 30^th January is currently being worked on and it is anticipated we will have the document reviews completed today. An update to the file status is anticipated within the next 48 hrs.

NB: All documents issued under an MIR must be returned before the file can be reviewed.

Current Status: Final Assessment
Files in this status that have a last modified date up to an including the 31st January are currently being worked on and will be submitted to Credit for decisioning within the next 24hrs.

Current Status:  MIR/AIR/CAR
Files in this status are currently waiting on the return of outstanding documents or information requests. The files cannot be progressed until ALL outstanding items have been provided.

The Biggest Impact on our Ability to Work on Your File:

1. Privacy Consent, Application documents and Responsible Lending Summary Form not being ‘wet signed’. 
If you have submitted an application that has digital or electronic signatures on any forms, please have these forms re-executed with a ‘wet signature’ and upload the correctly executed document to the Supporting Doc tab in ApplyOnline.

This will allow us to bring the file into our workflow as soon as it is picked up, removing an average delay of 48hrs before we can commence working on the file.

2. Mandatory documents not provided at time of submission.
We must be provided with the mandatory documents as specified on the Supporting Documents Checklist to enable us to start working on your file, this includes VOI.
Ensure you refer to our Supporting Documents Checklist to cross reference the required documents for Auswide Bank to avoid any unnecessary delays to processing your application.


3. Not following the required process when submitting applications. 

HGS applications require a Scheme Place reservation confirmation PRIOR to the loan application being submitted to us.

We have been receiving an increased volume of Scheme Home Loan applications that have not requested a Scheme place reservation from us first.

Full details of our Loan Application Process and Home Guarantee Scheme requirements can be found on our website or speak to your BRM.