The Compliance Wizards helps you to meet your responsible lending obligations.
What is the Compliance Wizard
The Compliance Wizard is a process flow in Mercury that assists you to capture all of the documentation required for adherence to your responsible lending obligations.
The Compliance Wizard consists of:
- Credit Guide
- Quote
- Needs Analysis
- Preliminary Assessment
- Credit Proposal Disclosure
- Broker Checklist & Declaration
You can use the Master template for these documents, or customise your own. Refer to Customising and Creating Document Templates.
-
If you use the Master template, the document will be automatically generated when you click the relevant button in the Compliance Wizard.
-
If a single custom document exists, Mercury will pick up this version and automatically merge the opportunity.
-
If two or more custom templates exist, Mercury will prompt you to choose which one to use.
Once a document is generated from the Compliance Wizard, it will download to your computer if you're using Mercury in a browser, OR it will open in Word if you're using Mercury Desktop. The document will be visible in the Attachments section of your Opportunity. Click the refresh button if you don't immediately see it.
Accessing the compliance Wizard in M5
Once in the opportunity, the compliance wizard will be visible in the toolbar.
Credit Guide
The Credit Guide pulls together data from an opportunity and produces a Word document outlining the services provided and the activities of the credit representative operating under a credit license.
It also contains:
-
information about fees and charges that may be payable by the client.
-
commissions that may be received by a credit representative.
-
commissions that may be paid to third parties for the introduction of business
-
information about a complaint or dispute resolution.
Quote
The Quote gathers data from an opportunity and produces a Word document that provides information on the maximum amount of fees and charges payable by the client in relation to the credit assistance and services provided.
Needs Analysis
The Needs Analysis is a fact-finding questionnaire.
-
Select Questionnaires from the left-hand panel.
-
Click on the
to add a new questionnaire. -
Select MASTER: Needs Analysis and click Choose.
Preliminary Assessment
The Preliminary Assessment pulls together data from an opportunity and produces a summary report in Word, outlining various aspects of a loan application.
You must have a Funding Position and Borrowing Capacity calculation in the Opportunity in order to generate a Preliminary Assessment.
Credit Proposal Disclosure
The Credit Proposal Disclosure gathers data from an opportunity and produces a Word document with the information that must be provided to your client when you are providing credit assistance.
Broker Checklist & Declaration
The Broker Checklist & Declaration is a fact-finding questionnaire.
-
Select Questionnaires from the left-hand panel.
-
Click on the
to add a new questionnaire.
-
Select MASTER: Checklist and Declaration and click Choose.
Comments
0 comments
Article is closed for comments.