A condition is a figure, a comparison and a value. The figures are the ones the statement reading and the serviceability assessment already produce, so there is one route to each number rather than two that can come to disagree.
- abn active
- Whether the business’s ABN is active on the Australian Business Register
- abn age months
- Whole months the business’s ABN has been active, to the day the policy is run
- gst registered
- Whether the business is registered for GST, on the Australian Business Register
- supplier abn active
- Whether the supplier’s ABN is active
- customer abn active
- Whether the customer’s ABN is active
- seller abn active
- Whether the seller’s ABN is active
- other business abn active
- Whether the ABN of the other business the product deals with is active: the supplier’s, the seller’s or the customer’s
- other business related
- Whether the other business the product deals with is connected to the borrower: by what the business said, or the register’s same company number or registered name
- average monthly sales
- Money coming into the business account a month, over the last six months the statement covers: every credit but its own transfers, money a lender paid in and refused payments returned
- business costs a month
- What the business account pays out a month, over the same months, but its own transfers and other lenders’ repayments
- other lenders repayments a month
- Repayments to other lenders a month, over the same months: loans, cards, buy now pay later, and payments to known lenders
- money left a month
- Average monthly sales less costs and other lenders’ repayments
- money left over the repayment
- The money left each month as a multiple of this request’s repayment a month
- owed to us
- Everything the business would owe this lender with this request: what its loans owe today, and the amount asked for
- owed to us as a share of monthly sales
- Everything the business would owe this lender, as a share of its average monthly sales
- open facilities
- The business’s facilities with this lender not yet repaid, this request apart
- overdue tax not on a plan
- Whether the business said it owes the ATO overdue tax and is not on an ATO payment plan
- industry excluded
- Whether what the business does is an industry the lender does not lend to (its business.excludedIndustries)
- industry
- What the business does, as the application put it
- personal applications in the last 90 days
- Personal applications to this lender by the same person, by email or mobile, in the 90 days before this one
- monthly surplus
- What is left each month once assessed income has met living expenses, commitments and the proposed repayment
- annual surplus
- The monthly surplus multiplied by twelve, because a published credit guideline states its minimum servicing surplus as an amount a year
- net surplus ratio
- The monthly surplus as a share of assessed income
- debt service ratio
- All repayments, existing and proposed, as a share of assessed income
- assessed income
- Verified income after the lender’s shading
- living expenses
- The living expense figure used, being the highest of declared, benchmark and observed
- declared expenses over benchmark
- What the applicant declared they spend each month, as a share of the lender’s own household expenditure benchmark — both supplied, because this repository holds no benchmark table
- assessed commitments
- Existing commitments counted in the assessment, including card limits
- proposed repayment
- The repayment on the proposed loan at the buffered assessment rate
- assessment rate
- The rate the loan was assessed at: the offered rate plus the buffer, floored
- assessment buffer
- The margin between the rate the loan was assessed at and the rate offered, which is the servicing buffer as the assessment applied it
- assessment complete
- Whether every input a complete serviceability assessment needs was actually supplied
- statement days
- How many days the statement covers, first transaction to last
- statement months
- How many months the statement covers
- transactions
- How many transactions were read
- categorised share
- The share of transactions this software could identify
- enough history
- Whether the statement covers at least 90 days, the minimum a fortnightly rhythm can be seen in
- verified monthly income
- Regular income found on the statement, before any policy shading
- income streams
- How many separate regular income streams were identified
- inferred income share
- The share of verified income that comes from credits whose description does not say they are income
- monthly commitments
- Repayments and rent found on the statement, monthly
- monthly housing
- Rent or mortgage found on the statement, monthly
- monthly outgoings
- Everything that left the account except transfers, monthly
- loan amount
- The principal applied for
- loan term years
- The term applied for, in years
- loan rate
- The rate offered, before the assessment buffer
- loan purpose
- What the money is for, as the application states it
- loan to income
- The principal as a multiple of assessed annual income
- debt to income
- Every debt the lender counts, including the loan applied for, as a multiple of gross annual income — supplied, because gross income is not on a bank statement and what counts as debt is the lender’s own definition
- contract kind
- Whether the contract is a small amount credit contract, a medium amount one, or neither — as the definitions in s 5(1) of the Act and s 204(1) of the Code decide it
- adjusted credit amount
- The first amount of credit provided, with any fee capitalised into it disregarded — the base of both fee caps (National Credit Code s 204(1) and (3))
- cost of credit
- Everything the borrower pays beyond the credit itself, in dollars over the whole term
- cost of credit share
- What the borrower pays beyond the credit, as a share of the amount borrowed over the whole term — not annualised, and not an interest rate
- annual cost rate
- The annual cost rate under s 32B of the National Credit Code, which s 32A caps at 48% — for a medium amount credit contract, because s 32A(4)(b) puts small amount credit contracts outside that cap entirely
- protected earnings share
- The largest share of a repayment period’s available income that the repayments take, across every repayment period — the figure reg 28LCA(2) caps at 10%
- protected earnings headroom
- How much less than the 10% cap the repayments take in the tightest repayment period
- protected earnings met
- Whether every repayment is at or under 10% of the available income expected in its own repayment period (National Credit Act s 133CC(1), reg 28LCA(2))
- equal repayments met
- Whether the repayments and the intervals between them satisfy s 133CD of the National Credit Act
- within the code caps
- Whether the contract imposes anything the Code does not permit — a fee above its cap, an interest charge on a small amount credit contract, or an annual cost rate above 48% on a medium amount one
- small amount evidence complete
- Whether every input the small amount credit contract tests need was actually supplied
- capacity headroom
- How much less than the maximum this lender would lend the applicant is asking for
- gambling in the last 30 days
- Money spent on gambling in the thirty days to the end of the statement
- gambling in the last 90 days
- Money spent on gambling in the ninety days to the end of the statement
- gambling share of income in the last 30 days
- Gambling in the last thirty days as a share of income credited in the same thirty days
- dishonours in the last 30 days
- Payments dishonoured (refused) in the thirty days to the end of the statement, each counted once
- dishonours in the last 90 days
- Payments dishonoured (refused) in the ninety days to the end of the statement, each counted once
- overdrawn fees in the last 30 days
- Fees the bank charged for the account going below nought, in the thirty days to the end of the statement
- overdrawn fees in the last 90 days
- Fees the bank charged for the account going below nought, in the ninety days to the end of the statement
- overdrawn days in the last 90 days
- Days in the last ninety on which the running balance was below nought
- income credits in the last 90 days
- Credits identified as income in the last ninety days
- statement age days
- Days between the last transaction on the statement and the day this policy was run — how stale the evidence is
- declared income difference
- How far the declared income is from the income the statement verified, either way, as a share of the verified figure
- applicant age
- The applicant’s age in whole years, as the lender’s identity check established it
- identity verified
- Whether the lender’s identity check verified the applicant
- contact verified
- Whether the applicant proved control of a mobile number or email address, by a one-time code or otherwise
- account name matches
- Whether the name on the income account matches the applicant
- all income accounts included
- Whether every account income is paid into is in the statement reading — ss 117(1A) and 130(1A) speak of the consumer’s account, and income paid somewhere unread is income the assessment cannot see
- residency criteria met
- Whether the applicant meets the residency criteria of the lender’s own product
- declared overdue now
- Whether the applicant declared that a repayment on other credit is overdue now
- declared default or collection
- Whether the applicant declared that, in the last five years, a lender listed a default against them, sent a debt of theirs to a collector or wrote off a loan of theirs
- requirements and objectives met
- Whether the lender’s own record of the consumer’s requirements and objectives says this contract meets them. Recorded by a person under ss 130 and 131; this software reads the record and does not make the judgement
- prior contracts
- Contracts this applicant has had with this lender before
- creditcrest score
- The Creditcrest Score against the lender’s model borrower for the loan type: the gap to it, laid on its rating, which started at 800 and moves with the lender’s outcomes. 150 points is ten times the odds
- creditcrest plain score
- The Creditcrest Score on the plain scale, 0 to 1200, compared with nobody
- creditcrest risk class
- The Creditcrest risk class on the rating against the lender’s model borrower, AAA to CC, each a range of the chance the loan is not repaid in full. Compared by order: at least BBB is BBB or better. Whole classes only
- creditcrest plain risk class
- The Creditcrest risk class on the plain scale, AAA to CC, by fixed points out of 1200 rather than a chance of default. Compared by order: at least BBB is BBB or better. Whole classes only
- prior contracts paid late
- Earlier contracts with a repayment missed, paid late, or days past due at any point
- prior dishonours
- Payments dishonoured under earlier contracts with this lender
- prior most days past due
- The most days past due any earlier contract with this lender reached
- prior hardship arrangements
- Hardship arrangements under earlier contracts with this lender
- prior history complete
- Whether every earlier contract’s servicing history was available to read
- spending reduction shortfall
- How far short of a committed reduction in discretionary spending the applicant fell, in percentage points: the reduction promised under an earlier contract, less the reduction the statement now shows