HomeSec Referral Partner and Broker Partner Agreement

As a Referral Partner or Broker Partner, as noted on the Referral Partner or Broker Partner Sign-Up form (herein referred to as You), You agree that by proceeding with online Referral Partner or Broker Partner accreditation with HomeSec Business Finance Pty Ltd  ACN 150 013 513 (herein referred to as HomeSec), You have read, understand and digitally agree to the Terms and Condition stated in this Partner Agreement.

You agree that you are not an employee, contractor or agent of HomeSec.

You are unable to bind HomeSec in any way, and must not purport to do so.

When you introduce a loan or loans (Referral) to HomeSec, you agree that you act solely for the borrower you are introducing to us to consider for a loan.

You must use reasonable endeavours to ensure that the information provided to us in relation to a Referral introduced to us, by you is accurate.

You must not provide any information which you know or ought to have known is or is likely to mislead or is fraudulent.

You authorize HomeSec to pay any Referral Fee or Brokerage Fee (as defined below) to You on an RCTI, and remit the Referral Fee or Broker Fee directly into your nominated bank account (as supplied by You when you sign up with HomeSec)

You authorize HomeSec to send regular advertising material to you via email, phone, SMS and post, and agree and accept the terms within our Privacy Statement & Privacy Consent.

You agree to pass on any discoveries that may somehow affect any loan submitted to HomeSec.

HomeSec agrees to follow up all Referrals (both electronic and verbal) as soon as they are received and no later than 1 business hour from the time of receipt of the Referral. All information including outcomes and updates will be conveyed to You in a timely manner.

HomeSec agrees to pay You EITHER a Referral Fee or a Brokerage Fee (depending on which model you have signed up under) within 24 hours of the settlement of each loan Referral sent from you to HomeSec, and funded by HomeSec.

You acknowledge that the Nett Loan Advance means the amount advanced to the client, excluding capitalised lender fees and interest.

FEES FOR REFERRAL PARTNERS: 1% of the Nett Loan Advance

Referral Fee.  On New Referrals to Homesec, the Referral Fee is set at 1% of the NETT LOAN ADVANCE loaned to a borrower (excluding capitalised lender fees and interest).

This Referral Fee is paid out of HomeSecs Standard Establishment Fee, and is NOT an additional charge to the borrower.

FEES BROKER PARTNERS:  up to 6% of the Nett Loan Advance 

Brokerage Fee. On New Referrals, if You are a Broker Partner and you wish not to receive a Referral Fee and instead would prefer to apply a Broker Fee, and/or interest trail on each loan you refer to HomeSec, you will be required to state this figure/s to us in writing (by email or on the Partner Application Form)

Brokerage Fee:  A Dollar Amount or a percentage of the NETT LOAN ADVANCE*.

Additional Trail: A & per month, over and over the base interest rate^

*Please note: Brokerage Fee & Trails are subject to approval by HomeSec. We advise that the Brokerage Fees and Trails are added to our standard Establishment Fee & Interest rate. This means the cost is passed onto the borrower.  High fees and large interest trails may affect the competitiveness of the loan offer.

You agree to always quote your Broker fee and Trail to HomeSec on a “GST INCLUSIVE” basis, and that all payments to You will be on a GST Inclusive basis.

You understand that any Referral Fee or Brokerage Fee is only payable when the loan you have sent to HomeSec as a Referral or Brokers Loan has been funded by HomeSec.

You acknowledge that the maximum Brokerage Fee cannot exceed 6% of the Nett Loan Advance.

Trails.

^Trails are not automatically applied to a loan. You need to specifically request a Trail on each loan Referral.

^Trails are paid when the loan Referral sent by you and funded by HomeSec is fully repaid, and has not gone into default.   Should a client make monthly interest payments and the loan is not in default, your Trail will be paid to You monthly when the Borrower makes their Interest payment to HomeSec.

Repeat Loans or Further Advances.

If a loan Referral made by You has been funded by HomeSec and the same Borrower applies for additional funding to an existing HomeSec loan, HomeSec will pay You the same Partner Referral Fee or Broker Fee on the fresh capital that was paid to You on the initial Referral.   If a Trail was applied to the initial Referral, that same Trail will apply to additional advances of fresh capital to the same Borrower.

If a client of a past Loan Referral made by you comes to Homesec and directly requests a subsequent advance from HomeSec after the previous HomeSec loan has been repaid, HomeSec will pay You the same Partner Referral Fee or Broker Fee that was paid to You on the initial Referral.  If a Trail was applied to the initial Referral, that same Trail will apply to additional or subsequent advances to the same Borrower.

A Referral Fee, Broker Free, or Trail on Repeat Loans or Further Advances is only calculated on Fresh Capital.  Fresh Capital is new or additional capital advances, and it is not calculated on capital already advanced.

If a client of a past Loan Referral made by you comes to Homesec via another Referrer and requests a subsequent advance from HomeSec after the previous HomeSec loan has been repaid, it will be treated as a new loan and HomeSec will pay to new referring partner.

REFERRAL MANAGEMENT POLICY

1.REFERRALS

i. Referrals are treated on a first-in first-allocated basis. They are allocated against the first
source or as otherwise provided in accordance with this Referral Management Policy.

ii. Partner Preference rules:
a. Partner then another Partner: Leads are owned by the first Partner delivering the Referral for
the first seven (7) calendar days (regardless of product);
b. Partner then Direct: Referrals are owned by the last referring (non-duplicate) Partner
delivering the Referral for the first 10 (ten) calendar days from the relevant Referral
(regardless of loan product);
c. Direct then Partner: Referrals that are referred by a Partner (regardless of product)
that have previously come through Direct, will be allocated to that referring Partner (in
accordance with the above rules).

iii. After the relevant period, the Referrals are back “on the market”, however the first source
can continue to conduct their own lead nurturing activities.

2. APPLICATIONS

i. An “in progress (not yet submitted)” application is treated the same as a Referral in
accordance with the ‘Referral’ rules set out in section 1 above (with no change in the
trigger date);

ii. A “submitted” is owned by the recognised source for twenty-eight (28) calendar days
post approval;

iii. After this period the Borrower is back “on the market”, however the first source can
continue to conduct their own client nurturing activities;

iv. HomeSec will continue to nurture withdrawn applications and Referrals, and allocate all deals
against the most recent Referral source in accordance with the ‘Referral’ rules set out in section 1
above.

3. SETTLED LOANS

i. A Borrower can have multiple Partners across products but cannot have multiple
Partners on same product.

ii. Settled Loans are allocated to the Referral source determined in accordance with this policy
for the relevant Referral and will continue to be allocated to that source for that product for
further transactions unless the customer signals a change in their preference.

iii. If a change in preference is indicated through applying through a different Partner
(without any other indication) it will only result in a change in Partner for that customer if
that Referral settles.

iv. A Borrower may request (in writing, verbally or otherwise) that their account be
associated with a different Partner and/or disassociated from an existing Partner which
will result in an ongoing change. It is ultimately the Borrowers discretion and HomeSec will
act in accordance with Borrowers choice. HomeSec is under no obligation to notify any
Partner if an existing customer has changed their preference.

4. CUSTOMER CHOICE

i. Notwithstanding any other rule in this Referral  Management Policy, an existing Borrower
(including a Referral) can move from one Partner to another if and when they chose to do so.

ii. In the case of a change to a new Partner as a result of Borrowers choice, “New Referrals”
commission is paid to the new Partner only on fresh capital.

iii. Existing Partner receives no further information or commission and loses future revenue
to the new Partner for that product only.

PARTNER WITH US              LODGE AN APPLICATION