ISSUE 8 July 2011

THE VOICEA regular publication from Vow

T: 1300 730 050 ABN 66 138 789 161

In this edition•WelcomefromCEO•VowNationalConference•BrokersShiftingFocus –MichaelOsborne•ADayOutonTheHarbour•StateofOriginII•JuneProductTrainingDays•VowXtreme•IndustryFocus(Mario Rehayem,PepperHomeloans)•UpClose(RobDiodato, TheMortgage&Finance Professionals•BookReview•Our2011PreferredPartners•TeamVow

The Ascent ProgramUpcoming EventsProduct Training Days July28–Perth August2–Tasmania August3/4–Sydney August4–Newcastle August9–Brisbane August11–Melbourne

Ponder this...“Inthebusinessworld,therearviewmirrorisalwaysclearerthanthewindshield.”-WarrenBuffett

TherearetwosuccinctmessagesforourindustrycomingoutoftheLaborGovernment’sdecisiontobanexitfees.First,itillustratesthatLabordoesn’tunderstandourindustry,becausethisbanwillhelpreducecompetition–theveryoppositeofwhattheyclaimtowant.

ButIbelievethesecondmessageismoreimportant;Laborisnotlisteningtoourindustry.Onanissueofsuchimportancetobrokers,wherethelogicofourargumentwasself-evident,Laborsimplyturnedadeafear.

ItsuggeststhatourindustryhastobecomesmarterabouthowwelobbyCanberra.Insteadofbeingreactive,literallywaitingfortheGovernmenttoenactpoorpolicybeforedoinganything,weshouldbemoreproactive,withanobviousexamplebeing

theneedfortheGovernmenttoseriouslysupportnon-banklenders.The$20billiondedicatedbytheAustralianOfficeFinanceManagementtosupportsecuritisationdoesnotequalonemonth’slendingvolumes,renderingitvirtuallyfarcical.

TheMFAAandtheindustrybeganagrassrootscampaigndirectlyinvolvingbrokersonissuescriticaltoourcommercialwell-being.Butmuchmoreneedstobedone.

AgoodstartingpointcouldbetogetLabortoreplicatetheCanadianGovernment’sHousingCorporationthatinsuresoneinthreemortgagesfundedinthatcountry,apolicythatunderpinneditsbankingindustryduringtheGFCwhilestillmaintainingahealthylevelofcompetitioninthemortgagemarket.

Whatevertheissue,nowisthetimefortheindustrytoputitscollectiveshouldertothewheeltosafeguardourincomeandsecurethelong-termfuture.

Ilookforwardtohearingyourthoughts.Welcometothe8thissueofTheVoice...

OursecondNationalConferenceisbeingheldatthestunningSofitelFijiResortandSpafrom7-9September.Therearealready100delegatesconfirmedtoattendandanamazingactivityandspeakerprogram.

Registrations will be closing soon –pleasegotowww.VowConference.com.au.FormoreinformationabouttheconferencepleasecontactyourVowBDM.

WELCOME

NATIONAL CONFERENCE 2011: 8 weeks away!

Tim BrownCEO - Vow Financial

WholesaleAggregatoroftheYear

We look forward to seeing you in Fiji with the stunning Pacific Ocean as the backdrop!

THE VOICEA regular publication from Vow

Theexitfeebanisjustanotherchangeforthemortgageindustry.Asprofessionalmortgagebrokersthereislittledoubtweneedtoworkmorecloselyandmoreproactivelyasonevoicetolobbylenders,industryintermediaries,thegovernmentandtoocolleaguesaroundus(ourfellowbroker)abouttherequiredinvestment,innovationandthedirectionneededforthisgreatindustry.

Wehavealsowrittenforalongtimetheneedfortheindividualmortgagebrokertoinvest,innovateandconsidertheirdirection

movingforward.Inthispost-regulatedenvironmentwithsomuchchange,shrinkingrevenuesandhigherrunoffsthegreatstoryisthatVow’smortgagebrokersappeartohaveshiftedonmassfromthinkingaboutdiversificationtoactualimplementationofnewproducts&services.

ThishasbeenevidencedfromdozensofbrokersutilisingtheVowLeasingservice,genuineexpressionsofinterestinpartneringwithVowWealthManagement,over220brokers(in4weeks)seekingaccesstogeneralinsurancethroughAllianzInsuranceand$10millionofinvestment

propertiesexchangingthroughBlueWealthProperty.

Itappearstherealevolutionisstartingtotakeshapeandtheoldmortgagebrokerisgraduallycarvingoutanewuniqueservicepropositiontobecomeagenuinetrustedadviserfortheirclient(s).

Congratulationstoallyouwhohaveacted–Vowencouragesyoutocontinueonthisjourney!

WithVowLegalformallylaunchinginJulyandVowCommercialbeingfinalised,thefuturelooksbrightforthosethatjumponboard.

BROKERS SHIFTING FOCUS

www.vow.com.auT: 1300 730 050 ABN 66 138 789 161ISSUE 8 July 2011www.vow.com.au

1:MichaelNicholson(Director,VowFinancial)2:JaisonSingh(FinancialElements),VaseMarcevska(PepperHomeloans),MarioRehayem(PepperHomeloans), TonyNewcombe(VowFinancial)3:JohnMartin(AllAboutFinanceServices),MickChardon(ChardonandAbbottHomeLoans),LeightonKing(VowFinancial), GeoffAbbott(ChardonandAbbottHomeLoans),RoseRenouf(MortgageSupply),MikeGriffiths(MoneywiseFinance), JayneGibbs(JayneGibbs),RosinaTombs(VowFinancial),WilliamChen(PacificMortgageCentre),WendyHoang(Totally Mortgage),CraigForeman(TaurusFinancialServices)RobKlenner(Macquarie),TimBrown(VowFinancial),DinoPesce (Macquarie),JeffWong(D&JFinancialServices),JustinDale(VowWealth)4:TimBrown(VowFinancial),MikeGriffiths(MoneywiseFinance),GeoffAbbott(ChardonandAbbottHomeLoans)5:JaisonSingh(FinancialElements),AnilVarandani(FocalPointHomeLoans),MarioRehayem(PepperHomeloans), OmarBahemia(Greenspan),JackWei(FinancialGenius),RobertWard(Equitimax),SarahWells(RedConcierge), VaseMarcevska(PepperHomeloans),JohnMcLennan(Equitimax),TonyNewcombe(VowFinancial),KenMartin(Greenspan)6:MarioRehayem(PepperHomeloans)feedingaseagull

A DAY OUT ON THE HARBOURwithourtopBrokerPartnersinSydney.

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4 5

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Michael OsborneHead of Sales & Distribution - Vow Financial

THE VOICEA regular publication from Vow

www.vow.com.au

THE VOICEA regular publication from Vow

T: 1300 730 050 ABN 66 138 789 161ISSUE 8 July 2011

STATE OF ORIGIN

1.StateofOriginGame22.MattMitchener(VowFinancial), MuziDandachli(ProlinkFinance Solutions),TaraDavoren(Vow Financial)3.TonyPearce(AlliedAccess),Michael Osborne(VowFinancial),Michael Ryce(GoDirectHomeLoans),Steve May(InsightWealthPlanning), ShayneRumbel(S&KRumbelPty Ltd),TimBrown(VowFinancial),Muzi Dandachli(ProlinkFinanceSolutions)

AnightatANZStadiumintheVowCorporateBoxforgame2oftheStateofOrigin.

VOWXTREME

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3

TeamVowXtremeiswalking100kmtoraisemoneyfortheworld’spoorestcommmunties.Sofarwehaveraisedover$8Kandarelookingtoraisemuchmore.If you would like to donate please go to:

TimBrownaddressesbrokerpartnersatProductTrainingDaysacrossAustralia

Over200brokerpartnersattendedProductTrainingDaysacrossAustraliainJune.ThiscoincidedwiththelaunchofVowWealthManagement.

JUNE PRODUCT TRAINING DAYS

THE VOICEA regular publication from Vow

www.vow.com.au

THE VOICEA regular publication from Vow

What was the last book you read? Insomeoneelse’sshoes.

What CD is currently in your car stereo? It’sembarrassingbutheregoes;acompilationofPrince&MichaelJackson’sgreatesthits.

If you weren’t working in the mortgage and finance industry what would you like to be doing? IhavealwaysbeeninterestedinLaw,especiallybeingabarrister,you’reunderpressure24/7,andthethrillofwalkingintoacourtroomandownitwouldbeeuphoric.

What are the big issues facing the mortgage broking industry in the next two years? Weneedtobeverymindfulonwhattheindustryisdoingtoattractnewblood.Newbloodiscrucialforthisindustry’slongevity.

What was the first job you ever had?Itwassales&marketing;attheageof16Istartedalocalcalendarrunwhichhadlocalbusinessespurchaseadvertisingspaceonthecalendar.Soldthebusinesstothelocalnewspaper2yrslater,andmanagedtowinalocalbusinessawardintheprocess.

What drives you?Besidesmywifeandkids...innovation&success.Thereisnobetterfeelinginwatchingsomethingevolvethewayyouplanned.

What do you drive?2010BMW323MSpecasmydaytoday.IalsohaveaNissanGTRVSpecR33foralittlefunonthetrackwhenIgetthechance.

How do you unwind? AbottleofHighlandPark40Yroldscotch,anassortmentofmum’sspecialrecipepicklesandafewmates...heavendownunder.Nowbacktoreality...takingthekidstoalocalfishingspotorkidsplayhouseontheweekendistheusualtimeoffforme.

Where is your next holiday destination? Lebanon&Parisherewecome!

Industry outlook:Mortgagebrokingasaservicehasbeeninexistencearound17years.Overtheyearsalothaschangedandwillcontinuetodoso.Gonearethedayswhereamortgagebrokerisusedjustformortgagesorforrateshopping.Today’sbrokersarenowlicensed&areabletofillthegapinthemarketthathasbeenmissinginthepast.Brokersnowserviceconsumersinthemarketthat

arelookingtopurchaserealestate,vehicles,businessequipment,insuranceandthelistgoeson.Theonethingthathasn’tchangedinthisindustryistheconsistentcryingoutforoptions,andthoseoptionsneedtocomefromAggregatorsandlendersintheformofinnovation.

VowFinancialhasbeenextremelyproactivewithitsinnovativeoptionssuchasVowWealth,VowLegal,VowLeasing,theVowiPhoneApp&thelatestSNAPprintingofferingtoitsmembers…ThisisverymuchlikePepper.

LikeVow,atPepperweareconstantlyworkingbehindthescenestoensurethatourproductofferingsareinnovativeandmarketleading.PepperledthewaywiththeremovalofDEF’swithoutaffectingbrokersbywayoftighteningclawbackpolicies.Werecentlyreleasedour90%Fulldocproductthatallowscreditimpairment,nogenuinesavingsandnoLMI,thisisauniqueofferingfromPeppertothebrokermarket,wehavealsotweakedourcreditpolicytoallowarrearsonFulldocloans,andimpairmentonLowDocLoans.Pepperdeliversallthisandisstillabletoensureitsserviceofferingsaresecondtonone.WeofferdirectcreditaccesstoALLourbrokersandcommittoa48hrturnaround.

Asmentionedpreviouslythemortgagebrokersareheretofillthegapinthemarket.Thisincludesthegapcreatedbymajorbanksandmortgageinsurersrestrictedcreditappetite.ThegapcaneasilybeservicedbybrokersbeingconsciousofwhatspecialistlenderslikePepperhavetooffertheindustry.Pepperoffersolutionsforcustomersthatfalljustoutsidethenormalcreditcriteriaofthebanks.Brokersshouldembraceeveryopportunitytoservicetheircustomers’needstodayandinthefuture.Sothenexttimeyourloangetsdeclined...ThinkPepper.

UP CLOSE

T: 1300 730 050 ABN 66 138 789 161ISSUE 8 July 2011

INDUSTRY FOCUS

Mario RehayemDirector, Sales and DistributionPepper Homeloans

This issue we asked Mario Rehayem at Pepper Homeloans a few personal questions and to give Vow his thoughts on the industry and partnering with Vow.

THE VOICEA regular publication from Vow

www.vow.com.au

THE VOICEA regular publication from Vow

How did you get into mortgage broking? Ihavealwaysbeeninbanking.SeemedlikeanaturalprogressionforwhereIwasheadedinmycareer.Wantedtoconcentrateonclientrelationshipmanagementmoreandthebankswerenotsoinfavourofthatideaandkepttransferringmearound,sodecidedtostartmyownbrokingbusinessin2001.

What’s the key to success in the broking industry?Ithinkthatagoodknowledgeofthebankspoliciesandafocusoncustomerservicearethetwomainkeystosuccess.Clientswanttoknowsoundinformationandthatyougetwhattheywantinatimelymanner.

Describe your approach to business in five words.Serviceiseverything.(onlythreeIknow).

What changes have you seen in the industry since you became a broker?ProductisthemainchangeIhavenoticed.Theevolutionoflowdoc,thenthereturntofulldocandbackagain.MorerecentlythroughtheGFC,reducedlendingmarginshasbeenthebiggestissue.

What are the big issues facing the mortgage broking industry in the next two years? Ithinktheclawbackissueandthepaymentstousasbrokerswillbecomesomethingwewillneedtocontendwith.Theimpactoncashflowandthevalueofourbooksisamajorissue.

What’s great about working with Vow Financial? Thepeople.

How do you unwind?Igosurfing.

What are you watching?Footy(AFL)andsonsofanarchy.NotmuchintoTV.

What are you listening to?TheFooFightersnewalbum.

What makes you happy? Timespentwithfamilyandfriends.

What’s your ultimate goal? Workwise:haveabusinessthatrunswithoutmeinit.Personal:traveltoplacesthataren’ttouristy.

If you could have any two people in the world to dinner, who would they be?Alive:JenniferHawkinsandtheDalaiLama.Peoplethataredead:JesusandMary.Somequestionsneedanswering.

Have you had a life changing moment?Yeah,acouple.BiggestonewasthebirthofmydaughterDemi.

Finish this sentence. ‘Success is…beinghappywithwhatyouhave.

Where is your next holiday destination? Fiji,fortheVowConferenceinSeptember.

How did you earn your first dollar? Apartfrompocketmoney,Ipackagedupclayintocubesforaguythatmadepotsandvasesetc.$15aweekwhilstIwasatschool.

UP CLOSE Rob DiodatoThe Mortgage & Finance Professionals

Rob Diodato,Director, The Mortgage & Finance Professionals (WA)

ROB’S STORY…

T: 1300 730 050 ABN 66 138 789 161ISSUE 8 July 2011

Bornin1967andraisedinLeedervilleandBedford.Robjoined

Westpacin1982andleftin1996.Robhadavarietyofroleswith

otherlenderstogetsomeexperienceinallformsoflendingand

hestartedbrokingin2001.HefinishedhisFinance/Economics

degreein2002.Hehasa14yearolddaughter,yikes!Helikesto

surfwhenhecanandfollowstheWestCoastEaglesintheAFL

andrecentlystartedplayingAFLmasters.Soundedlikeagood

ideaatthetime!

THE VOICEA regular publication from Vow

www.vow.com.au

THE VOICEA regular publication from Vow

SERVICE GUARANTEE FOR OUR BROKER PARTNERS

OUR 2011 PREFERRED PARTNERS

TEAM VOWW: vow.com.au

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T: 1300 730 050 ABN 66 138 789 161

Ifitevertakesusmorethan4businesshourstoreturnyourcall,wewillpayyou$100-noquestionsasked.

ISSUE 8 July 2011

MAKE EVERY SECOND COUNTTime Management Tips and

Techniques for More Success

With Less Stress

By: Robert Bly

MakeEverySecondCountgoesbeyondtheusualtime-managementbookstobringyouabroadrangeofstrategiesandtacticsdozensofprovenmethodstogetmoredoneinlesstime.

You’lldiscoverhowtomaximizeyourtimebysettingpriorities,createusefulschedules,andovercome

procrastination,howtoboostyourenergylevelandproductivitywithproperdiet,exercise,andsleep.You’llalsolearnhowusingthelatesttechnologycanenableyoutomanageinformationandcommunicatemoreeffectivelyandefficiently.

MakeEverySecondCountalsocontainstime-testedadviceongoalsetting,businesstravel,socialnetworking,mobiletechnology,planningsystems,andtimemanagementinthehome.