[et_pb_section fb_built=”1″ custom_padding_last_edited=”on|desktop” admin_label=”section” module_class=”corporate-banner” _builder_version=”3.22″ background_image=”https:\/\/maxid.com.au\/wp-content\/uploads\/2016\/12\/generic-header.jpg” custom_padding_tablet=”50px|0|50px|0″ custom_padding_phone=”” transparent_background=”off”][et_pb_row column_structure=”2_3,1_3″ module_class=”vertical-align-middle” _builder_version=”3.25″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” make_fullwidth=”off” use_custom_width=”off” width_unit=”on”][et_pb_column type=”2_3″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_text admin_label=”Text” module_class=”proxima-nova-semibold” _builder_version=”4.4.2″ text_text_color=”#ffffff” text_font_size=”48″ text_line_height=”1.2em” background_size=”initial” background_position=”top_left” background_repeat=”repeat” text_orientation=”center” background_layout=”dark” module_alignment=”center” hover_enabled=”0″ text_font_size_tablet=”40″ text_font_size_phone=”35″ text_font_size_last_edited=”on|phone” use_border_color=”off”]<\/p>\n
Mortgage VOI – Unpacking the confusion:\u00a0 Who takes the risk now & after COVID-19 ?<\/p>\n
[\/et_pb_text][\/et_pb_column][et_pb_column type=”1_3″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_image src=”https:\/\/maxid.com.au\/wp-content\/uploads\/2016\/12\/maxid-circle-logo-tm.png” alt=”MaxID” align=”center” align_tablet=”center” align_phone=”” align_last_edited=”on|desktop” _builder_version=”3.23″ use_border_color=”off” border_color=”#ffffff” border_style=”solid” animation=”off” sticky=”off” always_center_on_mobile=”on”][\/et_pb_image][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ custom_padding_last_edited=”on|desktop” _builder_version=”3.22″ background_color=”#efefef” custom_padding=”||14px|||” custom_padding_tablet=”50px|0|50px|0″ custom_padding_phone=”” transparent_background=”off” padding_mobile=”off” make_fullwidth=”off” use_custom_width=”off” width_unit=”on”][et_pb_row _builder_version=”3.25″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” custom_padding=”||43px|||”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_code admin_label=”WHAT LENDERS AND BROKERS NEED TO KNOW” module_class=”title-style-tag proxima-nova-medium” _builder_version=”4.4.2″ text_orientation=”center”]<\/p>\n
[\/et_pb_code][et_pb_text admin_label=”Confusion and misinformation ” _builder_version=”4.4.2″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” use_border_color=”off”]<\/p>\n
Removing the confusion and misinformation<\/p>\n
[\/et_pb_text][et_pb_text admin_label=”Text” _builder_version=”4.4.2″ text_font_size=”18px” text_line_height=”1.5em”]<\/p>\n
There are service providers in the market referring to ARNECC’s supposed “update to the VOI Standard”. There has been no such update and no relaxation of the VOI Standard.<\/p>\n
ARNECC’s Guidance Note 2 – Identity Verification applicable since February 2019 makes the position very clear “…. where the [VOI] Standard is not being used<\/u> a [Mortgagee] may consider that use of video technology, such as Skype or FaceTime, is useful in the particular circumstances. …… ARNECC notes that video technology may be manipulated or forged, therefore caution is recommended. The use of this technology is at the discretion and risk of the [Mortgagee]<\/u>\u2026..\u201d<\/i>.<\/p>\n
So what are the facts?<\/p>\n
Firstly, video technology has no place in a process where a lender and\/or a broker are applying the VOI Standard.<\/p>\n
Secondly, applying the VOI Standard is the only way to achieve certainty about compliance with the VOI requirements in the ARNECC MPR.<\/p>\n
Thirdly, nothing has changed since COVID-19.<\/p>\n
What are the new proposals to change identity verification requirements? <\/b><\/p>\n
ARNECC’s 19 March 2020 position statement isn’t a proposal for changing identity verification requirements. The current proposed changes to identity verification requirements are those that were released in December 2019 and followed by industry consultation in February 2020.<\/p>\n
A vulnerability identified by ARNECC and its advisors has led to their proposal that the VOI Standard should be applied across the board. ‘Reasonable steps’ (eg processes involving video technology to interview the borrower) would be in place as a fallback position only.<\/p>\n
COVID-19 has undoubtedly changed many things in the world, but it has not changed the fact that ARNECC’s role is to protect the integrity of the sale process and the integrity of the Land Titles Registers.<\/p>\n
Until ARNECC provides a regulatory update, the only change proposed to identity verification requirements makes reliance on ‘reasonable steps’ available only when the VOI Standard cannot be applied.<\/u><\/p>\n
Identity Verification during COVID-19 and preparing for de-escalation.<\/b><\/p>\n
The risk taken when the VOI Standard is not applied is exactly the same during COVID-19 as it was prior to COVID-19, unless a court determines otherwise.<\/p>\n
Without the lender, a broker, or an Identity Agent (such as MaxID) conducting an in-person face-to-face verification of identity in compliance with the VOI Standard there are serious potential consequences if there is identity fraud.<\/p>\n
The potential cost and complexity of remediation programs where a regulatory ‘safe harbour’ is ignored should be considered.<\/p>\n
On a positive note, the WA State Premier has announced that his Government is beginning to ease COVID-19 restrictions including lifting the restrictions on home opens. Similar approaches throughout Australia could bring more normality back to the residential property and mortgage market sooner rather than later. Pursuing temporary identity verification solutions that do not match long term requirements may become a costly exercise for lenders.<\/p>\n
MaxID’s current lending clients have not had to focus on tactical responses to borrower VOI for third-party or other distribution channels during COVID-19. Using MaxID’s VOI Standard compliant legal services means they were prepared for COVID-19 and beyond.<\/strong><\/p>\n <\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”3.22″][et_pb_row _builder_version=”3.25″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_image src=”https:\/\/maxid.com.au\/wp-content\/uploads\/2017\/02\/maxid-logo-transparent-tm.png” align=”center” align_tablet=”center” align_phone=”” align_last_edited=”on|desktop” _builder_version=”4.4.2″ use_border_color=”off” border_color=”#ffffff” border_style=”solid” animation=”off” sticky=”off” always_center_on_mobile=”on”][\/et_pb_image][et_pb_code admin_label=”Taking the Covid Confusion Out of ID ” module_class=”title-style-tag proxima-nova-medium ” _builder_version=”4.4.2″ text_orientation=”center”]<\/p>\n [\/et_pb_code][et_pb_text disabled_on=”off|off|off” admin_label=”MaxID delivers” module_class=”maxworks-head-container title-style-tag proxima-nova-medium ” _builder_version=”4.4.2″ text_text_color=”#929497″ text_font_size=”36″ header_text_color=”#171c3e” header_font_size=”58px” background_size=”initial” background_position=”top_left” background_repeat=”repeat” text_orientation=”center” module_alignment=”center” use_border_color=”off”]<\/p>\n As a fully insured Law Practice, MaxID delivers VOI Standard ‘safe harbour’ compliant face-to-face in-person VOI in a COVID-19 social distancing environment. No need to visit a broker, office or have a stranger visit your clients. Borrower VOI completed from home in minutes.<\/p>\n [\/et_pb_text][et_pb_text admin_label=”Text” _builder_version=”3.27.4″ text_text_color=”#59595c” text_font_size=”20″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” use_border_color=”off” border_color=”#ffffff” border_style=”solid”][\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.4.2″ custom_padding=”23px|||||”][et_pb_row column_structure=”1_2,1_2″ _builder_version=”4.4.2″][et_pb_column type=”1_2″ _builder_version=”4.4.2″][et_pb_image src=”https:\/\/maxid.com.au\/wp-content\/uploads\/2016\/12\/person-verifying-identity.png” align=”center” _builder_version=”4.4.2″][\/et_pb_image][et_pb_text _builder_version=”4.4.2″ header_font_size=”43px” text_orientation=”center” custom_margin=”||20px|||”]<\/p>\n [\/et_pb_text][et_pb_text admin_label=”If you are given the option you can” _builder_version=”4.4.2″ text_font_size=”18px” text_line_height=”1.5em” background_size=”initial” background_position=”top_left” background_repeat=”repeat” text_orientation=”center” use_border_color=”off”]If you are a lender, mortgage broker or conveyancer we are here to help you and your business. Safe harbour compliant VOI completed anywhere in Australia with internet connectivity 24\/7. Easily integrated into current business processes and ecosystems. Don’t open the floodgates to sub-standard compliance practices.\u00a0[\/et_pb_text][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.4.2″][et_pb_contact_form captcha=”off” email=”michelle@maxid.com.au,fraser@maxid.com.au” title=”Get in touch” custom_message=”Business Name: %%BusinessName%%||et_pb_line_break_holder||Contact Name: %%ContactName%%||et_pb_line_break_holder||Email: %%Email%%||et_pb_line_break_holder||Phone: %%Phone%%||et_pb_line_break_holder||Message: %%Message%%” success_message=”Thanks for contacting us! We will get back to you shortly.” module_id=”et_pb_contact_form_0″ module_class=”contact-form-wrapper” _builder_version=”4.4.2″ border_radii=”on|0px|0px|0px|0px” use_border_color=”off” border_color=”#ffffff” border_style=”solid” input_border_radius=”0″ locked=”off” button_letter_spacing_hover=”0″][et_pb_contact_field field_id=”BusinessName” field_title=”Business Name ” fullwidth_field=”on” _builder_version=”3.16″ form_field_font=”||||” use_border_color=”off” border_style=”solid” button_text_size__hover_enabled=”off” button_one_text_size__hover_enabled=”off” button_two_text_size__hover_enabled=”off” button_text_color__hover_enabled=”off” button_one_text_color__hover_enabled=”off” button_two_text_color__hover_enabled=”off” button_border_width__hover_enabled=”off” button_one_border_width__hover_enabled=”off” button_two_border_width__hover_enabled=”off” button_border_color__hover_enabled=”off” button_one_border_color__hover_enabled=”off” button_two_border_color__hover_enabled=”off” 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button_one_text_size__hover_enabled=”off” button_two_text_size__hover_enabled=”off” button_text_color__hover_enabled=”off” button_one_text_color__hover_enabled=”off” button_two_text_color__hover_enabled=”off” button_border_width__hover_enabled=”off” button_one_border_width__hover_enabled=”off” button_two_border_width__hover_enabled=”off” button_border_color__hover_enabled=”off” button_one_border_color__hover_enabled=”off” button_two_border_color__hover_enabled=”off” button_border_radius__hover_enabled=”off” button_one_border_radius__hover_enabled=”off” button_two_border_radius__hover_enabled=”off” button_letter_spacing__hover_enabled=”off” button_one_letter_spacing__hover_enabled=”off” button_two_letter_spacing__hover_enabled=”off” button_bg_color__hover_enabled=”off” button_one_bg_color__hover_enabled=”off” button_two_bg_color__hover_enabled=”off”][\/et_pb_contact_field][\/et_pb_contact_form][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.4.2″ background_enable_color=”off” custom_padding=”46px||10px|||” locked=”off”][et_pb_row _builder_version=”4.4.2″ custom_padding=”||10px|||”][et_pb_column type=”4_4″ _builder_version=”4.4.2″][et_pb_text _builder_version=”4.4.2″ header_font_size=”47px”]<\/p>\n [\/et_pb_text][et_pb_blog fullwidth=”off” posts_number=”4″ show_author=”off” show_categories=”off” show_pagination=”off” module_class=”cu-blog” _builder_version=”4.4.2″ custom_padding=”||0px|||” border_width_all=”0px”][\/et_pb_blog][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ custom_padding_last_edited=”on|desktop” _builder_version=”4.4.2″ background_color=”#efefef” custom_padding=”||30px|” custom_padding_tablet=”50px|0|50px|0″ custom_padding_phone=”” transparent_background=”off” padding_mobile=”off” make_fullwidth=”off” use_custom_width=”off” width_unit=”on”][et_pb_row padding_mobile=”off” column_padding_mobile=”on” _builder_version=”3.25″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” custom_padding=”||0px|” custom_css_main_element=”text-align: center;” make_fullwidth=”off” use_custom_width=”off” width_unit=”on”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_code admin_label=”Simple 3-Step Process” module_class=”title-style-tag proxima-nova-medium”]<\/p>\n [\/et_pb_code][et_pb_text admin_label=”Using your smartphone or tablet” _builder_version=”4.4.2″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” text_orientation=”center” module_alignment=”center” use_border_color=”off”]<\/p>\n Using a smartphone or tablet, your client will simply:<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_3,1_3,1_3″ _builder_version=”3.25″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”1_3″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_text module_class=”proxima-nova-extrabold ” _builder_version=”3.27.4″ text_text_color=”#ff6300″ text_font_size=”18″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” text_orientation=”center” module_alignment=”center” use_border_color=”off” border_color=”#ffffff” border_style=”solid”]STEP 1[\/et_pb_text][et_pb_blurb image=”https:\/\/maxid.com.au\/wp-content\/uploads\/2016\/12\/phone.png” alt=”Get Started” image_max_width=”none” admin_label=”Blurb” _builder_version=”4.4.2″ header_text_color=”#3164af” header_font_size=”21″ header_line_height=”1.3em” body_text_color=”#404041″ body_font_size=”20″ body_line_height=”1.3em” background_size=”initial” background_position=”top_left” background_repeat=”repeat” text_orientation=”center” animation=”off” use_border_color=”off” border_color=”#ffffff” border_style=”solid”]<\/p>\n INITIATE<\/p>\n Using a smartphone or tablet, your client will follow the guided experience to enter to their details, photograph their ID documents and nominate someone they trust to meet, sight and inspect their ID documents.<\/p>\n [\/et_pb_blurb][\/et_pb_column][et_pb_column type=”1_3″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_text module_class=”proxima-nova-extrabold ” _builder_version=”3.27.4″ text_text_color=”#ff6300″ text_font_size=”18″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” text_orientation=”center” module_alignment=”center” use_border_color=”off” border_color=”#ffffff” border_style=”solid”]STEP 2[\/et_pb_text][et_pb_blurb image=”https:\/\/maxid.com.au\/wp-content\/uploads\/2016\/12\/interview.png” alt=”Interview” image_max_width=”none” module_id=”maxcolumns” _builder_version=”4.4.2″ header_text_color=”#3164af” header_font_size=”21″ header_line_height=”1.3em” body_text_color=”#404041″ body_font_size=”20″ body_line_height=”1.3em” background_size=”initial” background_position=”top_left” background_repeat=”repeat” text_orientation=”center” animation=”off” use_border_color=”off” border_color=”#ffffff” border_style=”solid”]<\/p>\n MEET<\/p>\n Your client will meet a person acceptable to Max ID face-to-face and in-person anytime, anywhere in Australia. They will both need to bring original ID documents and a smartphone or tablet to complete the process.<\/p>\n [\/et_pb_blurb][\/et_pb_column][et_pb_column type=”1_3″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_text module_id=”maxcolumns” module_class=”proxima-nova-extrabold ” _builder_version=”3.27.4″ text_text_color=”#ff6300″ text_font_size=”18″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” text_orientation=”center” module_alignment=”center” use_border_color=”off” border_color=”#ffffff” border_style=”solid”]STEP 3[\/et_pb_text][et_pb_blurb image=”https:\/\/maxid.com.au\/wp-content\/uploads\/2016\/12\/completed-tm.png” alt=”Completed” image_max_width=”none” _builder_version=”4.4.2″ header_text_color=”#3164af” header_font_size=”21″ header_line_height=”1.3em” body_text_color=”#404041″ body_font_size=”20″ body_line_height=”1.3em” background_size=”initial” background_position=”top_left” background_repeat=”repeat” text_orientation=”center” animation=”off” use_border_color=”off” border_color=”#ffffff” border_style=”solid”]<\/p>\n COMPLETE<\/p>\n After a successful ID Verification, our Australian Law Practice issues an ID Verification Certificate to the person or organisation that requires it. Providing you with secure, safe and convenient ID Verification.<\/p>\n [\/et_pb_blurb][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":" Mortgage VOI – Unpacking the confusion:\u00a0 Who takes the risk now & after COVID-19 ?Removing the confusion and misinformationThere are service providers in the market referring to ARNECC’s supposed “update to the VOI Standard”. There has been no such update and no relaxation of the VOI Standard. ARNECC’s Guidance Note 2 – Identity Verification applicable […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","_links_to":"","_links_to_target":""},"yst_prominent_words":[465,607,593,603,260,40,96,594,219,370,257,481,537,482,480,105,606,528,161,158],"_links":{"self":[{"href":"https:\/\/maxid.com.au\/wp-json\/wp\/v2\/pages\/7187"}],"collection":[{"href":"https:\/\/maxid.com.au\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/maxid.com.au\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/maxid.com.au\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/maxid.com.au\/wp-json\/wp\/v2\/comments?post=7187"}],"version-history":[{"count":16,"href":"https:\/\/maxid.com.au\/wp-json\/wp\/v2\/pages\/7187\/revisions"}],"predecessor-version":[{"id":7239,"href":"https:\/\/maxid.com.au\/wp-json\/wp\/v2\/pages\/7187\/revisions\/7239"}],"wp:attachment":[{"href":"https:\/\/maxid.com.au\/wp-json\/wp\/v2\/media?parent=7187"}],"wp:term":[{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/maxid.com.au\/wp-json\/wp\/v2\/yst_prominent_words?post=7187"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Taking the COVID confusion out of Identity Verification<\/h1>\n
Get in touch<\/h1>\n
COVID News<\/h1>\n
Simple 3-Step Process<\/h1>\n