Compliance and Training
Trusting Centric Lending Services to look after your financing solution gives you peace of mind that you are being looked after by experts. Centric Lending Services is a full member of the MFAA. All of our staff are compliant with MFAA requirements and standards. In addition to this all employees attend continuing education lectures provided by the banks/lenders and by Centric Lending Services.
In order to become a member of the MFAA, all staff of Centric Lending Services have met the following requirements:
- Passed an examination on the Consumer Credit Code
- Passed an examination on the Privacy Act
- Passed an examination on the Trade Practices Act
- Have a minimum of 2 years experience in mortgage lending or a pass in the Certificate 3 in Mortgage Lending
In order to be alligned with our various lenders Centric Lending Services' requirements are that:
- Centric Lending Services as a group must satisfy accreditation criteria for each lender
- All MFAA requirements and standards must have been achieved
- Initial training by each bank/lender relating to lender credit policy, product features, pricing, representation and marketing material available
- Ongoing training by banks/lenders as to changes in credit policy and product offerings
The vast majority of Centric Lending Services employees come from banking and financial services backgrounds. Centric Lending Services requires that our employees must have achieved the following:
- All employees must have written and passed the exams required by the MFAA
- All employees must attend initial training by each lender and attend continuing education lectures
- All our employees are trained to use Centric Lending Services' analysis software
Centric Lending Services provides training with regard to understanding financial statements and ratio analysis
All Centric Lending Services staff and Directors sit in an open plan environment to maximise intellectual sharing. This creates an environment whereby people learn by listening and being involved in the ongoing dialogues to create effective solutions for our clients.
Centric Lending Services representatives attend the annual MFAA conference. At this conference they benefit from a variety of lectures including:
- Industry trends
- Industry projects and initiatives
- Macro and micro economic forecasts
- Mortgage industry trends and development in other countries
- Self improvement and sales seminars
Centric Lending Services is committed to compliance and ongoing education. The company was formed on the premise that the major differentiators in this market are knowledge and skill. To this end Centric Lending Services has built tools for employees to provide them with up to date and relevant information and provides ongoing education.