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Manual Servicing Calculator
User Manual
Training guide v1.0
Important: Before you start
The MyState loan calculator is a Microsoft Excel Template.
A template is very useful as it allows you to create as many fresh (blank) calculators as you
need without ever having to worry about saving over the original nor an existing calculator.
With a template you can select ‘New’ then ‘Loan Service Calculator’ from ‘My Templates’ to
open up as many fresh copies as required:
Or simply double-click on the file (from your desktop or file explorer) to open fresh ‘blanks’:
Refer to Appendix I at the back of this document for the one-off first time setup of the
template.
Manual Servicing Calculator
As you will see we have made a major overhaul to the manual servicing calculator in relation to
inputting the information.
There is no change to the calculation or to the look of the calculator when printing.
The following gives a run through of the information required when using the new calculator.
1. First step is to make sure that you enable the Macros so that you are able to move between
calculators if required.
2. If you ‘hover’ the mouse over the information symbol at the top of the page you will see an
index showing what the different colours mean.
There are also information symbols listed for most fields which give an indication of what is
required to be input.
3. Down the left hand side of the page you will notice some numbers that are in grey when the
calculator is first opened. These numbers correspond to the progress in each section of the
calculator and shows when each particular section has been completed satisfactorily. This detail
is also reflected in a summary at the base of the calculator.
Clicking on the summary indicators will take you to the selected section:
Information Icon to show menu
You will also note that at the bottom of the page you will still see the Serviceability results which will
indicate if the loan ‘passes’ or ‘fails’ servicing
There are various assessment ratios that are required including the times cover and surplus
amounts.
Underneath this area the maximum borrowing amount will be displayed as well as shortcuts to
various other calculators or websites.
There is also a tick box at the bottom which will open up the ‘classic view’ of the calculator which is
the current calculator showing all of the information that has been entered. This is not able to be
edited and if you realise there needs to be changes these can only be made through the front cover
sheet.
Progress summary
Servicing results – with
explanations if failed
Ratios and times cover
Shortcuts to other calculators
To access ‘classic view’
SECTION 1 – APPLICANT DETAILS
The first section requires the applicants’ details including dependants, marital status, postcode and
also the household for expense purposes.
4. The application is automatically set with one applicant. To add additional applicants you need
to click on the icon next to add applicant. This will bring up the second applicant and also if
required the option to add the third and fourth applicants.
5. If you add a more than one applicant you will need to complete the ‘household’ information for
expenses as different calculations occur if living at different addresses.
Hint: If you are using a married couple and under applicant 1 you indicate they are a couple with
applicant 2 then the details for applicant 2 automatically open.
6. If applicants live at different households you will notice that each applicant is shaded a different
colour where if they’re in same household each applicant has the same background colour.
7. Once you have completed the applicants’ details you will be able to move to the second step.
This is shown when the progress line shows section 1 in green. (If you scroll to the bottom of
the page you will also notice that in the progress summary number 1 has now turned green)
SECTION 2 – PROPOSED NEW LOANS
This section is where we are able to indicate the type of new loan that the applicants are applying
for. There are choices for:
Owner Occupied – 2 splits
Investment – 4 splits
COH Line of credit
Overdraft – only available to MyState retail lenders
Personal Loan – only available to MyState retail lenders
8. Once you select the required loan type and splits you will need to complete the details for the
new loan. The details required are:
Property value
Off the plan
Loan amount
Type of loan (variable or fixed)
Property security type
Postcode
Loan term
Interest only term (if applicable)
Interest rate
9. If you require additional security there is a tick box which will bring up more details and you can
add the additional security and any associated debt to ensure the LVR is correct for the
application.
Select required loan types
10. If you are completing both and owner occupied loan and an investment loan and are using just
the one security the calculator will bring up details asking for a second property value.
In this instance you will need to add the property value as 0 to ensure that the correct LVR is
calculated – see second screenshot below
11. If you select the COH Line of credit and this is a stand alone product, the additional security
section will be shown and will be required to be completed to obtain the LVR.
New Loan Details
Final LVR
Additional Security
Property value
2nd value listed as Nil
SECTION 3 – INCOME DETAILS
The same income details are entered as per previous calculators with access to include:
Base – required for all applications ($0 to be input if no base income provided)
Rental Income
Overtime
Company profit/loss
Commission
Bonus/Dividends
Other
12. Income details for ‘Rent’, ‘Overtime’, ‘Company profit’ and ‘Other’ are input as the total value
under each applicant if applicable. When you open ‘Bonus/Dividends’ and ‘Commission’ you will
be prompted to enter the details in the boxes below.
As we require 2 years worth of details for these income types we have automated the system so
that you need to enter ‘Last Years’ amount and then the “Previous Years’ amount and the
correct amount will then be transferred to the income box.
Non Taxable Income can also be loaded with options available:
Business Addbacks
Family Assistance
Pension
Other
Car Allowance (Automatically allocates $5,000 for each applicant if applicable)
Next step is to complete the financial commitments. These are loaded as monthly amounts.
Enter 2 years Commission
Enter 2 years Bonus
Base income must be
completed including Nil
Commission and Bonus
populated here
SECTION 4 – EXISTING LOANS
13. The first question asked is ‘Existing Mortgage Loans’. If the answer is ‘No’ you move onto the
next question but if the answer is ‘Yes’ then you will need to input how many loans the
applicant has to open up the required information boxes.
As per current requirements the information required depends on the type of loan (P&I or I/O)
and whether a MyState loan or OFI. The information required is:
Loan Purpose
Loan Type
Which applicants are associated with the loan
The loan provider
The loan amount
The repayment amount
Initial Loan Term
Initial Interest Only term
Current Interest Rate
Once completed the progress bar will show green for section 4.
SECTION 5 – OTHER COMMITMENTS
Other commitments relate to any other lending that the applicants may have such as:
Personal Loans
Credit Cards
Overdrafts
Unsecured Lines of Credit
Secured Lines of Credit
If the applicant have no other loans then uncheck the tick box which will complete section 5.
If they do have these types of loans then complete the details as required.
Uncheck box if no commitments
or loans held
SECTION 6 – LIVING EXPENSES AND OTHER MONTHLY COMMITMENTS
14. These need to be completed for all households and must also include ‘Nil’ inputs to have the
correct calculations completed
The categories have altered slightly as there has been an update from LendFast and we have
aligned these to make recording easier.
The main change is that motor vehicle costs now will be entered under ‘Other Living Expenses’
and there is a category for ‘Medical and Health’ to cover doctors fees, pharmacy costs etc.
You will also need to state the number of properties owned by the clients as this is an indication
if they have allocated enough expenses to cover all properties costs such as rates and
insurance. This should also include the property they are purchasing.
We have separated owner occupied property and investment property expenses with the
owner occupied included as part of living expense and the investment property expenses as a
separate figure outside of living costs. Property costs such as rates, insurance, property
management fees, body corporate fees, maintenance need to be included.
You will also need to tick the check box as to whether the applicant has ‘Private Health
Insurance’. If this is not checked and they are liable for Medicare surcharge an estimate for this
amount will show further down the page. If you confirm that applicant does not have private
health and is liable for Medicare surcharge this amount is to be input to the box above the
estimate.
If required you will also need to input rental expense or notional rent
Number of properties owned by
applicants including new
purchase if applicable
Investment property expenses
listed separate to owner
occupied
Medicare surcharge estimate if
applicable (no private health
noted) to be input
SECTION 7 – VALIDATION OF EXPENSES
Confirmation of expenses is vitally important as to whether an applicant is able to afford the loan. To
ensure we have completed our due diligence we are now required to complete two validation
questions. Until these are completed the servicing calculator will not be finished and provide a
result.
The two questions are:
1. Expenses were validated:
Via a budget management tool
Via bank statements
By customer conversation
2. Can you confirm you have made reasonable inquiries and taken reasonable steps to verify all
borrowers living expenses
Yes
No (if No is chosen, a justification must be provided in the appropriate field)
SERVICING POSITION
After completion of the calculator and all information has been loaded the calculator will show the
serviceability results.
If there is any information missing or section not completed the Progress summary will not be all
green and the incomplete sections will still be grey. You will need to complete these sections before
obtaining a final outcome.
Passes Servicing
If all information is loaded and the details meet all of our policies then the progress summary will
show all green and the servicing result will state ‘Passes Servicing’
Fails Servicing
If the application fails then an error message may appear detailing what section of policy that the
deal does not meet.
If there is an error message and you know the information loaded was incorrect you can return to
that section and update the information.
Message indicating policy
requirement if servicing fails
Additional Hints:
If any of the sections are not completed the progress summary for that section will show as
grey and not have been updated to green as complete
If you need to go back to any section (either not completed or requires changes) you can click
on the required section number within the progress summary and you will be taken
automatically to that section
If you answer ‘No’ to the second expense validation question you will not be able to proceed
until you have completed the justification box on why you have not made reasonable
inquiries into their expenses. If you move to complete/change other sections you will be
taken back to the justification box.
If you are utilising one of the attached calculators, please complete the information required
and then to go back to the servicing calculator click on the ‘House Icon’ which will take you
back to the same place in the main calculator. The information from the additional
calculators will not be transferred to the main calculator.
Appendix I
Setting the calculator up as a template (one off – first time setup)
1. Open the calculator
2. Before enabling content, select ‘Save As’
3. Enter %appdata%\Microsoft\Templates into the address bar and press enter:
4. This will take you to your Templates directory:
5. Enter a Filename if necessary (eg. Loan Service calculator - MyState Bank) Select Save
6. Click ‘Enable Content’ and ‘Save’ and you’re done
You can now click ‘New’, ‘My Templates’ and open a fresh calculator anytime.
If the above doesn’t work, don’t worry, you can just save a copy of the calculator to a convenient location
(eg. Your desktop) and simply double click the icon to open a fresh calculator anytime.