FAQ - Axis Lending

Online Access

Question:
Can we please have an online walk through as there have been a number of updates/improvements? Do you have an updated online access guide?
Response:
We currently use a UAT version of Internet Access provided by our IT team. However, it reflects an actual and existing loan account as example, reason why we are unable to share it at the moment. Alternately, we are in the process of creating a manual to serve as a guide and walk you through the Internet Access in pdf format. We will provide an update once it is already available.

Question:
New BSB 702746 – Is there an alert when borrowers log onto Internet Access to remind them to update the BSB on any Direct Debits and Direct Credit payments they have set up on their loan or offset before 31st October 2023?
Response:
Yes, there is. Once the borrower logs into Internet Access, they should see it right away. The new BSB number is being emphasized on the portal as well as it reflects before on any listed loan or offset account. No physical or soft copy letters sent out to the borrowers confirming the new BSB number, though. Only the mortgage managers accredited by Origin Mortgage Management Services have received the notification which is to be cascaded to their respective borrowers and reiterate to update their payment arrangements as soon as possible.

Question:
Interim Statements – Why are some borrowers unable to download interim statements? We have had issues where SMSF borrowers have not been able to download, and others are only able to see December 2022.
Response:
For SMSF loans, for the parties to view and download the required statements, they need to login as the primary borrower, which is usually under a Trust name. If they have logged in before using their access as a Guarantor, most likely they may have limited access to view or download specific documents such as statements.
However, as at today, a few modifications have been made to guarantors’ permissions and they may now view and download all statements available to the primary borrower (Update has just been made by our IT Support team).
In general, borrowers should have access to all generated statements available in the Mortgage Manager Portal, unless restrictions were put in place to their access at some point.

To generate an interim statement via web-based Internet Access, please follow the instructions or refer to the snapshot below.
1. Under Useful Links, select Transaction Listing.
2. From the dropdown list, select the account where the statement will be generated from.
3. The borrower has the option to generate the last 30 days of transactions. Otherwise, click the All tab and select the preferred dates to specify the period.
4. Click Search.
5. Select the format the statement to be generated in.
6. Click Proceed to generate and save it to the selected folder/drive.

Question:
Where can the borrower locate the repayment amount due? On many occasions when borrowers check online, it shows the last month’s repayment but not the payment due.
Response:
1. From the My Loans screen, click the selected home loan account.
2. On the right side of the home loan account screen reflects the Minimum Monthly Payment.

Customer Care

Question:
Construction Interest Only Repayments – any suggestions on who best to show borrowers how much the Interest Only repayment will be on their construction loans?
Response:
You may send an email request to our Origin MMS Customer Service team to calculate the Indicative repayment due for the month. Interest is calculated on daily balances of the amount outstanding at the applicable interest rate. The amount is unascertainable until the next monthly interest charge is generated.

Question:
Closing Loan Statements – Borrowers are confused when they see The Arrears Amount is due and payable immediately and think that they still owe the Bank even though the Account Status says “Closed” and closing balance is $0.00 on the first page. Do you have a simple response we can use to explain to borrowers?
Response:
The loan facility or account itself will not reflect as “Closed” nor will it generate a closing statement if there is still an outstanding balance reflecting on the loan.
Indicators that the loan is already closed are:
1. Account status is Closed.
2. The Closing Balance reflects $0.00. If it is already in nil balance and yet the loan is still not closed, it could be the discharge process is ongoing.

If the Arrears Amount Due field does not reflect any amount, it means there is no outstanding balance to be satisfied. The Scheduled Payment Amount is the minimum monthly contractual repayment while the Total section reflects the upcoming or next scheduled payment. If the account is already closed or not in arrears, it is safe to disregard the amount reflecting as it is for display purposes only. The Payment Due Date should also help the borrower to identify if they are in arrears.

On the other hand, if the account is still active but in arrears, it will reflect both the amount in arrears and the next scheduled repayment which the sum will reflect on the Total section.

Question:
Osko Payments – When will they be available? Will these payments be processed on weekend and public holidays, and will there still be a cut off time of 3pm AEST?
Response:
The Osko payment arrangement is still in testing phase with our banking provider and the go-live details are still yet to be confirmed. Formal communication will be sent through to the mortgage managers once it is completed and implemented.

Question:
Mortgage Manager – We have borrowers that have loans under both Infinity Group and Axis Lending with Infinity as their broker. These loans have been set up under different identification numbers in Coral. Borrowers do not want 2 different logons to view all their loans, is there an easy fix?
Response:
Technically, yes there is a way to set the borrowers’ profiles and use only access for all their loans sitting with both Axis Lending and Infinity Group. However, we have to check with our Support team if there other factors we have to consider before organising the arrangement for the borrowers or if this is acceptable from a business perspective.

Question:
Redraw Request – Can Axis Lending process redraw requests in Mortgage Manager Portal and is there a redraw limit? If yes, can you please show how and the process?
Response:
Yes. Mortgage Managers have permission to lodge redraw requests via Interfi Mortgage Manager Portal. As at May 2022, Mortgage Managers’ limit is $20,000 per loan or offset account.
However, the borrowers’ default redraw limit is $50,000 if their 2-Factor Authentication (2FA) is enabled, and they may adjust it via Internet Access themselves up to $250,000.
We will send you a separate manual – The Mortgage Manager Portal Guide – to walk you through on how to lodge redraws.
Note: We are yet to confirm if there were changes made to the Mortgage Managers’ limit to lodge redraws as well.