Accurate and reliable Serviceability Calculators
Empower your brokers to submit truly qualified applications.
Compose Serviceability calculators are set on your specific metrics, ensuring accurate implementation of pre-submission serviceability at point of sale. Compose allows you to set your preferred servicing indicator such as DSR (Debt Service Ratio), NSR (Net Service Ratio), and NDI (Net Disposable Income) with your internal variables; household living expenses, income tax scales and much more.
Accurate and reliable Serviceability Calculators
Empower your brokers to submit truly qualified applications.
Compose Serviceability calculators are set on your specific metrics, ensuring accurate implementation of pre-submission serviceability at point of sale. Compose allows you to set your preferred servicing indicator such as DSR (Debt Service Ratio), NSR (Net Service Ratio), and NDI (Net Disposable Income) with your internal variables; household living expenses, income tax scales and much more.
Features
Serviceability Designer
Compose’ Serviceability Designer allows us to configure your exact serviceability parameters to match your specific internal policies and rules. We breakdown configuration by applying metrics to the individual components that make up your serviceability, enabling us to manage your requirements down to the most specific scenario. You are able to control your point of sale impact by applying Pass/Warning/Fail intervals that will influence submission eligibility.
Customisable Calculators
Every element of Compose’ Serviceability is easily customised. Compose includes more than 90% of all scenarios found -in the Australian and New Zealand credit markets. You are able to configure any number of versions of each metric to ensure you capture and take into account different variants at point of sale. Variants are able to be designed based on Duration of element; type (eg. full-time, part time); LVR; purpose; security; even residency….the list is extensive. It is an easy and fast way to define calculation methods and eligible percentages, depending on your conditions and exact requirements.
Industry metrics configuration
Industry metrics such as HEM, HPI, Tax Values or Medicare are configured within Compose and always up to date. Your Serviceability Calculations can then be set to take these values into consideration as your credit policy requires.
You are able to set conditional rules so that, for example, living expenses are calculated with an Industry Metric only if the actual living expenses are equal to less than that Metric.
Benefits
Know your calculators are always accurate
The requirements and lending criteria set in Compose are automatically synchronized with the interface which brokers and lenders access for application completion. For your chosen indicator we display the calculation formula and a summary of each component that is taken into account in determining serviceability. Changes take place in real-time, providing your brokers with helpful recommendations and visual aids, to give them a point of sale understanding of serviceability likelihood.
Give your distributors a clear understanding at point-of-sale
Serviceability is summarised beautifully for the end user to allow your brokers quickly understand and check application data to ensure Serviceability is being accurately calculated. LVR, Maximum Borrowing Capacity and Funds Position summaries enhance the end-user experience. Reports can be generated and easily emailed to loan parties.
Sync your Serviceability Calculators with your Products and the Application data
Compose delivers a complex engine to end user lodgement tools that gather values from both the application forms (income and expenses), as well as from your related Products Designer (interest and LVR percentage). This syncing enables our Calculations to take into account Product types, LVR bands, and overall lending to ensure an accurate assessment of risk-based serviceability.
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Serviceability rules
With Serviceability rules, you can easily configure allowable serviceability parameters and set business logic to define everything you need your brokers to fulfil. Here’s what you can do:
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Set business logic to implement your own rules and policies applied to serviceability metrics
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Set eligibility thresholds for main serviceability indicators such as NDI, DSR, NSR
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Set pass, warning and fail parameters and messages to allow easy identification of data that needs to be updated
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Define libraries of generic values such as household expenses and tax values
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Create different serviceability instances for different application types
-
Set allowable metrics applied to income and liability types
Serviceability rules
With Serviceability rules, you can easily configure allowable serviceability parameters and set business logic to define everything you need your brokers to fulfil. Here’s what you can do:
-
Set business logic to implement your own rules and policies applied to serviceability metrics
-
Set eligibility thresholds for main serviceability indicators such as NDI, DSR, NSR
-
Set pass, warning and fail parameters and messages to allow easy identification of data that needs to be updated
-
Define libraries of generic values such as household expenses and tax values
-
Create different serviceability instances for different application types
-
Set allowable metrics applied to income and liability types
