30
Jan
2024
Update on Current SLA Timeframes
The LOS team is continuing to work through our current pipeline.
The LOS team is continuing to work through our current pipeline, which was created by a higher than anticipated volume of purchase applications received prior to Christmas with shorter finance clauses. This has impacted on the team’s ability to process our refinance applications within our normal SLA timeframes. With the flow slowing over the Christmas / New Year break the team is working through the backlog as quickly as possible.
We appreciate your continued patience and understanding whilst we work through this.
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 30 January 2024:
Current Status: Application Submitted
Files submitted from the 16th to 29th January 2024 will be picked up to complete the verification process from next Monday 5th February.
Current Status: Verification
The team is picking up files submitted on the 4th and 5th January 2024 to complete the verification process and issue MIRs within the next 24-48 hours.
Files issued with MIRs that had outstanding documents returned up to and including the 24th or 25th January will have the initial review of these documents completed. 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 will be reviewed.
Files in this status that have a last modified date up to an including the 25th and 29th 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.