Skip to main content

Create a Lodgement Funding Position

  • Updated

Learn how to create a funding position with BrokerEngine's updated template design. Save time by importing information from a client Fact Find.

In This Article

  1. Open a Blank Funding Position Template
  2. Add Security Information
  3. Add More Details
  4. Add Solicitor Fees and Incidentals
  5. Add Existing Mortgage Information
  6. Enter the Proposed Loan Structure
  7. Add Borrower Contributions
  8. Consolidate Personal Debt

Prerequisites

Know how to navigate the funding position template layout.

Step-by-Step Guide

Follow these steps to create a lodgement funding position:

Step 1 — Open a Blank Funding Position Template

Open a Deal card in full view mode. Go to the left-hand menu, expand the Strategy folder, and click Funding Position (new).

If you are working with a new Deal card, BrokerEngine displays a blank funding position template called Primary Loan Structure.

Note: To create a new funding position for an existing card that already has one or more scenarios, go to the top of the page and click the plus (+) icon.

The workflow inside each folder is very intuitive, so filling in the fields is pretty straightforward.

Step 2 — Add Security Information

Expand the folder and click the security button. If you select Add New Security, a blank form displays. Manually fill in the required fields.

If you select Import from Fact Find, a popup displays. Choose a security option on the list and click Add.

Review the information in the fields and update as required.

Step 3 — Add More Details

Click the More Details link to unhide a form in the Security folder. Add contract, property, and ownership information. Click the Calculate icons to auto-fill Stamp Duty, Transfer Fee, and Mortgage Registration Fee fields with system-generated values (indicated by the green check mark). You can also manually enter figures.

Step 4 — Add Solicitor Fees and Incidentals

Manually enter one value to cover these costs, or click the Details link to display a detailed form in a popup. After you fill in the form and click Save, BrokerEngine greys out the Solicitor Fees/Incidentals field. To update the number, you have to open the form again.

Step 5 — Add Existing Mortgage Information

There are two pathways for adding existing mortgage information. You can manually enter the data or import information from a Fact Find.

If you choose Fact Find, select an option in the popup and click Save. Be sure to review the information and add values to any blank required fields.

To edit the fields, click the pencil icon. To clear all the fields, click the trash icon.

Step 6 — Enter the Proposed Loan Structure

Expand the next folder, click the Add Proposed Loan button, and fill in the fields. Click the LMI icon to display a calculator in a new window. Fill in the fields and select a lender option. BrokerEngine loads that value into the field. You need to copy that value into the loan's LMI (Split) field.

Manually enter a value for Bank Fees or click the Details link and fill in the form to provide a detailed breakdown. Optionally, click the plus (+) icon to add a loan split.

Step 7 — Add Borrower Contributions

Expand this folder and fill in the fields.

Step 8 — Consolidate Personal Debt

Expand the field and fill in the fields to roll in personal debt settlement. You can start with a blank field or import information from the Fact Find. BrokerEngine adds this total to the Existing Loans to Refinance line on the side column.

Related Articles

Related articles