DIPMB1_AS_v3A1: Industry Knowledge and the Lending Process - Management Assignment Help

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Before you begin
Read everything in this document before you start your written assignment for Industry Knowledge and the Lending Process (DIPMB1v3) subject.

About this document
This document is the written assignment — half of the overall Written and Oral Assignment.
This document includes the following parts:
• Instructions for completing and submitting this assignment
• Section 1: Case study 1 — Philip and Jennifer Brown
A case study with a series of short-answer questions:
– Task 1 — Key terms, gathering and documenting client information
– Task 2 — Assessing the clients’ situation
– Task 3 — Borrowing options
– Task 4 — Reasonable enquiries
– Task 5 — First Home Owners Grant and home buyer assistance schemes
– Task 6 —Professional network and loan settlement process
– Task 7 — Interest rates
• Section 2: Case study 2 — Richard and Pauline Jackson
A case study and a series of short-answer questions:
– Task 8 — Responsible lending obligations
– Task 9 — Self-employed special considerations
– Task 10 — Advising on strategies
– Task 11 — Impact of credit history
– Task 12 — Dispute resolution
• Section 3: Case study 3 — Mary Jane Smith
A case study and a series of short-answer questions:
– Task 13 — Prepare and check a loan application
• Section 4: Working in financial services
– Task 14 — Financial services legislation and industry codes of practice
– Task 15 — Design and produce a document
– Task 16 — Applying principles of professional practice to work in the financial services industry
• Appendix 1: Key terms
• Appendix 2: Client information collection tool/Fact finder
• Appendix 3: Loan application.

How to use the study plan
We recommend that you use the study plan for this subject to help you manage your time to complete the written assignment within your enrolment period. Your study plan is in the KapLearn Industry Knowledge and the Lending Process (DIPMB1v3) subject room.

Instructions for completing and submitting the written assignment

Completing the written assignment

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(e.g. 12345678_DIPMB1_AS_v3A1_Submission1).
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Section 1: Case study 1 — Philip and Jennifer Brown

Background
Philip and Jennifer Brown are a young couple about to buy their first home. They have been married for five years and during that time have rented an apartment while saving for their own home.

Following a personal referral from Glenn Brown, Philip’s brother you have already had a first meeting with Philip and Jennifer to discuss their objectives and needs. They admitted they have little time to do much research of lenders, have limited knowledge of the loan products available and have approached you to guide them through the process as they are confused. During (and subsequent) to your first meeting, Philip and Jennifer have provided the basic information documents — pay slips, tax returns, bank statements, property details for review/verification. You have now undertaken your preliminary assessment and need to discuss and present to them the proposal covering the options and your recommendations. It is important to get the proposal moving quickly, as the agent has indicated other parties are interested in the property. They have been looking at properties for the past three months and have found a 10 year old established apartment that has really caught their eye, although they have some concern over the kitchen which requires some minor renovations.
They have not paid a deposit at this stage, but the Real Estate Agent has provided some guidance on additional fees and charges.

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