This checklist is to help make the transition to Comprehensive Credit Reporting (CCR) as smooth as possible and to ensure you’re equipped for enquiries relating to CCR from our credit team.
Ensure all existing financial commitments are captured
When first interviewing your client as part of your standard credit history review, it’s a good idea to ask them about some of the more commonly forgotten items such as store cards and interest free facilities they may have taken up for big ticket purchases.
Head to Vedacheck
Log in to Vedacheck and run a credit report on clients using the Equifax login details provided to you during your Macquarie onboarding. Your username will be the email address associated with your Macquarie accreditation plus MBL added at the end (i.e. name@homeloans.comMBL) As a committed partner, we’ll provide this service for a limited time while you get up to speed.
Critical items to review on the client’s CCR
Limits of facilities shown as ‘Open’ ensure all active facilities have been factored into servicing. Include in your coversheet or file note commentary on any facilities reflected in the CCR which are to be closed or reduced.
Where the repayment history information (RHI) has been updated with an “A”, which exhibits missed repayments, your application may be subject to greater scrutiny.