17 February 2014

La Trobe Financial launches online valuation ordering system for brokers

At La Trobe Financial we are committed to constantly improving the broker experience by maintaining a simple and flexible process.

As part of this commitment, we are pleased to launch a new online valuation ordering system for all accredited brokers to use from today for residential properties located in metropolitan or major regional areas.

Simply click on this link to order a valuation now: https://latrobefinancial.rppropertyhub.com

The new valuation ordering system will make the La Trobe Financial experience faster, simpler and more efficient for brokers and customers alike.

Key features of the system include:

  • brokers can enter and submit valuation orders to approved valuers directly online;

  • online valuation tracking;

  • the ability to print and save completed valuation reports;

  • brokers can receive email notification upon completion of valuation orders; and

  • brokers can forward any supporting documentation directly to the allocated valuer to expedite the process.

La Trobe Financial’s Head of Credit Operations, Mr Justin Coates says the “technology engages brokers early in the approval process, and removes the frustration of spending considerable time packaging an application only to find the valuation comes in lower than expected. By giving brokers the opportunity to order valuations upfront, they are able to achieve certainty on the security property’ value prior to doing a large amount of work on the file. Early feedback from brokers has been extremely positive, as it allows them to focus their time on applications that will actually make it to settlement.

Over the past 5 years the percentage of valuation reports coming in lower than owner’s expectations has increased from 5% to over 15% so what this means is that almost 2 out of every 10 files a broker works on could result in a cancellation down the track due to a lower than expected valuation. The frustration caused by this is not only limited to brokers, as lenders and borrowers also feel the angst as they invest their time and effort for no return.

Obtaining a valuation earlier in the process will obviously not change the percentage of valuations that are coming in under owner’s expectations; however it does prevent all parties involved from investing considerable time and effort in 20% of their applications, where the equity is insufficient to allow the application to proceed in any case. Our experience is that people understand and cope with disappointment better the earlier in a process than when a great amount of work is invested and then finding out in the later part that it was all wasted because of a lower than expected valuation.

The online ordering system is managed by RP Data who has implemented a series of controls to ensure the ordering and management processes are kept separate, mitigating the risks that prevented brokers from having the ability to order valuations in the past.

To assist brokers unfamiliar with the online ordering process we have prepared a “how to” guide that can be accessed by clicking on the following link: How To Guide

Regain 20% of your time by utilising the La Trobe Financial online valuation ordering system for your next application.

... That's Lending

Best regards,
Paul Wells, Chief Investment Officer
La Trobe Financial Asset Management Limited

La Trobe Financial is one of Australia's leading independent credit specialist Fund Managers. Its business includes residential mortgages, commercial mortgages, and investment services operating one of Australia's largest Mortgage Funds under AFSL 222213. It employs over 123 staff and has managed over AUD$10Billion covering over 100,000 investment grade assets since inception in 1952.

Copyright 2013 La Trobe Financial. All rights reserved. No portion of this may be reproduced, copied, or in any way reused without written permission from La Trobe Financial. Disclaimer

The following awards and ratings were given to the Pooled Mortgage Option within the La Trobe Financial Mortgage Fund and may be viewed on our website

Ratings And Awards

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Please Note: This publication is for accredited broker use only and is not for distribution to consumers.

^ Depends on risk grade of Borrower

All loan applications are fully assessed to ensure the loan is not unsuitable and that we meet our responsible lending obligations in accordance with our usual underwriting requirements. All features and interest rates are current as at the date of publication. Conditions, fees and charges apply. This message, together with the La Trobe Financial website (www.latrobefinancial.com.au) and all its contents have been prepared for general information only and should not be taken as legal or financial advice, and as such the specific needs, investment objectives or financial situation of any particular user have not been taken into consideration. Individuals should therefore talk with their financial planner or advisor before acting on any information present on this message or the La Trobe website. La Trobe Financial Asset Management Limited ABN: 27 007 332 363 and AFSL No: 222213 is the issuer and manager of the La Trobe Australian Mortgage Fund. It is important for you to read the Product Disclosure Statement for the Fund before you make any investment decision. You can get a copy of the PDS by calling 1800 818 818. You should consider carefully whether or not investing in the Fund is appropriate for you. The rates of return from the Fund are not guaranteed and are determined by future revenue of the Fund, and may be lower than expected. Investors risk losing some or all of their principal investment. The investment is not a bank deposit.

La Trobe Financial Services Pty Limited - Australian Credit Licence Number: 392385
La Trobe Financial Asset Management Limited - Australian Credit Licence Number: 222213

Terms, conditions, fees, charges and La Trobe Financial lending criteria apply.

1. Zenith's "recommended" rating indicates that it has high confidence in the manager meeting its objectives. The Zenith Investment Partners ("Zenith") ABN 60 332 047 314 rating referred to in this document is limited to "General Advice" (as defined by section 766B of Corporations Act 2001) and based solely on the assessment of the investment merits of the financial product on this basis. It is not a specific recommendation to purchase, sell or hold the relevant product(s), and Zenith advises that individual investors should seek their own independent financial advice before investing in this product. To view the relevant research information, please visit www.latrobefinancial.com.au The rating is subject to change without notice and Zenith has no obligation to update this document following publication. Zenith usually receives a fee for rating the fund manager and product against accepted criteria considered comprehensive and objective.
2. SQM Research - 4 stars to 4.25 stars - superior, suitable for inclusion on most Approved Product Lists. To view the relevant research information, please visit www.latrobefinancial.com.au This rating will not take into account your, or your clients' objectives, financial situation or needs. It is up to investors to consider whether specific financial products are suitable for your objectives, financial situation or needs. Research houses receive a fee from La Trobe Financial for rating the product.
3. Lipper Leaders Rating Total Return (Score – 5) Lipper Ratings for Total Return reflect funds’ historical return performance relative to peers. The ratings are subject to change every month. The highest 20% of funds in each peer group are named Lipper Leader or a score of 5 for Total Return. Lipper Leader ratings are not intended to predict future results and does not guarantee the accuracy of this information. More information is available at www.lipperweb.com. Thomson Reuters Copyright, All Rights Reserved.
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