Capturing requirements and objectives

For each application you submit, you must complete the Originator declarations by confirming you’ve completed all activities outlined by Macquarie. In summary, these include:

1. I have established that each borrower and guarantor can speak English sufficiently to understand the nature of the application
2. I have provided the applicant(s) with a link to Macquarie’s Important Application Information and have informed them that it explains how Macquarie handles their information and discloses it to credit reporting bodies such as Equifax
3. I have made reasonable enquiries about the borrower(s) requirements, objectives and financial situation (as disclosed in the Needs and Objectives Interview Guide), taken reasonable steps to verify their financial circumstances and completed a preliminary assessment about whether the credit contract is 'not unsuitable';
4. I have provided living expenses that reflect the borrower(s) expected ongoing expenses; where applicable, I have also confirmed with the borrower(s) that they are willing and able to reduce their current expenses to the declared level
5. I have completed the Needs and Objectives Interview where I discussed with and confirmed that the borrower understands any risks or limitations applicable to their chosen Macquarie home loan product and loan features
6. I have provided all the information I consider is relevant for the lender to make an assessment and have removed all tax file numbers from supporting documentation
7. I have conducted a face-to-face interview with each borrower and any guarantor(s) or, where this was not possible, have directed them to a VOI alternative (using NextGenID) approved by Macquarie
8. I have followed Macquarie procedures, and I have not expressed an opinion, made a recommendation, or provided any information (except information supplied by Macquarie) to the applicant(s), in relation to a Transaction Account
9. Where a credit card is also part of the application, I have provided the applicant(s) with a copy of our current Credit Card Key Facts Sheet or have provided the applicant(s) with the opportunity to read and review our current Credit Card Key Facts Sheet
10. In relation to any lenders mortgage insurance (LMI) or low deposit fee (LDF) payable under the credit contract, I have discussed with the applicant(s), and established that each applicant appears to understand, the following:

• LMI or LDF protects the lender if the applicant(s) is unable to meet their loan obligations, but the applicant(s) is still liable to repay the amount outstanding under the credit contract;
• LMI or LDF is not refundable or transferable if the loan is repaid early or refinanced;
• electing to add LMI or LDF to the loan balance will increase the size of the loan and repayments over the loan term, and interest will be payable on the full LMI or LDF amount.;

11. I have discussed with the applicant(s), and established that each applicant appears to understand, that if the applicant(s) can't make the contractual repayments and default under the credit contract, the property being used as security may be at risk of being sold by the lender to recover the amount outstanding under the credit contract
12. To the extent applicable I have discussed with the applicant(s) and established that each applicant appears to understand that, despite consolidating the debt into a lower interest rate loan or refinancing into a lower interest rate loan, the applicant may end up paying more interest if the loan term is longer.