[Outsource Financials] Free Commercial Mentoring Program Modules + Session Outline
- March 17, 2023
![[Outsource Financials] Free Commercial Mentoring Program Modules + Session Outline](https://agents.oxbridge.com.au/wp-content/uploads/2023/03/outsourceawards2023-300x153.png)
Dear Oxbridge Partners and Affiliates,
Oxbridge is one of the largest mortgage brokers in Australia with over 100+ mortgage and private finance brokers attached to Oxbridge Finance and Oxbridge Capital. We work with 3 aggregators, Connective, Outsource and Finsure. Oxbridge brokers won the “broker of the year award” with Outsource Financials. If you are thinking of becoming a residential or commercial mortgage broker this session is not to be missed. There are a few professionals within Oxbridge that hold the unique combination of mortgage brokering, migration agent and real estate full license qualification.
In this exclusive, invite-only program from Outsource Financial, participants will increase confidence and management competencies of commercial loan writing. Through content review, peer-driven workshops and lender partner interaction, attendees will: gain a holistic understanding of the commercial client needs, heighten success with loan submissions, establish commercial relationships and develop a commercial lending arm within their business.
MODULES
1. Commercial Lending Fundamentals w/ANZ – 1/8
2. Pre-Submission ‘Deep Dive’ w/Thinktank – 15/8
3. Borrower Analysis and Financial Analysis w/Suncorp – 29/8
4. Effective Commercial Loan Submission – Part A w/ Pepper – 12/9
5. Effective Commercial Loan Submission – Part B w/ NAB – 26/9
6. SMSF, Private Lending & Cash Flow Lending w/ La Trobe, Prime Capital & OnDeck – 12/10
7. Asset Finance Deep Dive – Westpac and Macquarie, – 24/10
ABOUT THE PROGRAM:
Facilitated by our Training Officer, Sarah Chan and run by our Lender Partners, the program is delivered across 7 fortnightly, 3-hour digital sessions specifically designed to give you the tools and acumen to confidently enter the commercial lending space.
In order to be considered for the program you must:
- Have completed a minimum of 2-years residential lending (some exceptions may be made).
- Have a genuine need for commercial lending in your business.
- Be available to attend fortnightly digital sessions starting Tuesday 1st August from 1:00pm – 4:00pm
TO APPLY:
Please complete your expression of interest form and submit it to Sarah Chan (sarahc@outsourcefinancial.com.au) by COB Friday 21st of July.
Successful candidates will be notified by COB on Wednesday 26th of July.
ABOUT THE MORTGAGE BROKERING BUSINESS
Although the details around when and how brokers receive commission varies from lender to lender, generally speaking: Upfront commission: 0.65% (+GST) to 0.85% (+GST)
The upfront commission is the largest component of the commission. The broker receives this once your loan settles. Trail commission is what the broker receives every month for the life of the loan. Usually, this trail is set at 0.15%-0.40% per annum based on the remaining loan amount each year. To be clear, mortgage brokers don’t work for the banks, although there are some mortgage brokerages that are partly-owned by banks and larger lenders. Oxbridge is always 100% independent (e.g. Aussie is owned by Lendi which is owned by numerous shareholders including CBA, 1835i (ANZ’s external venture capital partner) and Macquarie Bank, RAMS is owned by Westpac, REA owns Mortgage Choice etc)
The key to a successful mortgage broking business are the leads. With over 4,100+ online listings and another 1,000 off market listings the Oxbridge Real Estate business provides an excellent source of lead generation.
Working on a typical loan size of $750,000 and writing 20 loans in the first year. The commission received by the broker would be
$750,000 (20 x 0.70% + 20* 0.45%) = $105,000 (upfront) + $67,500 (Trail) = $172,500.
Top brokers in Australia (See https://www.mpamag.com/au/best-in-mortgage/top-100-brokers-2022/429801) receive well in excess each year of $3M upfront commission and at least 3x that in terms of trail commissions for the life of the loan. Several Oxbridge brokers are doing exceptionally well earning 6 figure income. Some Oxbridge members are dual qualified in mortgage brokering and real estate which is a huge competitive advantage in the market place. Trail commission is really true passive income
The Oxbridge Finance and Oxbridge Capital Team
