You & Pepper. Our ingredients. Your brand. Changes to White Label Options. May 2015 THE PEPPER WHITE LABEL PROGRAM. white label

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1 You & Pepper Our ingredients. Your brand. THE PEPPER WHITE LABEL PROGRAM Changes to White Label Options May 2015

2 Contents 1. Summary 1 2. Key Pepper Contact Details 2 3. General Letters and Forms 3 4. Welcome Letters 3 5. Statements 4 6. Redraw - Manual 4 7. Consents and Variations 5 8. Loan Maintenance and Payment 6 9. Customer Service Servicing Collections Full Discharges Global Interest Rate Changes Commissions 8

3 1. Summary In order to improve the White Label experience, Pepper is settling all loans with loan agreements issued from 11 February 2013 on the Jackson system. Jackson enables White Label Partners to view real time customer and loan details directly through Loan Adviser. Jackson also provides additional features to the customer such as internet and phone banking. Two White Label options are being offered as follows: White Labelled / Pepper Managed Correspondence* is issued with the White Label Partner s branding but managed by the Pepper customer service team White Labelled / White Label Partner Managed - Correspondence* is issued with the White Label Partner s branding but managed by the White Label Partner s customer service team *Excludes correspondence issued in relation to Collections activity Initially, only the White Labelled/ Pepper Managed option will be offered until the White Label Partners have provided requirements for White Label servicing. Please speak to your Business Development Manager to obtain documents required for Loan Adviser and White Label set up. 1

4 2. Key Pepper Contact Details Krishneil Prasad Customer Relationship Manager - White Label Phone: (for White Label partner staff only and not customers) partners@pepper.com.au Fax : Escalation Contacts Murray Blanch Servicing/Variations Team leader Phone: mblanch@pepper.com.au Krishneel Tikaram Contact Centre Team Leader Phone: ktikaram@pepper.com.au Hotline: Call centre Praneeta Devi Customer Service Manager Phone: pdevi@pepper.com.au Mark West Head of Customer Services Phone: mwest@pepper.com.au Generic Loan Services Phone: (for borrower contact) 2

5 3. General Letters and Forms Pepper will issue all documentation required under the NCCP legislation directly to the borrowers. All documentation (excluding correspondence sent as a result of Collection activity) will be branded. The following are examples of documents sent directly to borrowers with branding: Welcome Letter Loan Statements Instalment change letters Loan Service Net (LSN) access letters The following forms will be provided unbranded to our self-servicing White Label partners for them to issue with their own branding: Direct Debit Authorities Redraw Request** Discharge Request** Pay Anyone authority Loan Variation/Reallocation of funds request **Where agreed, Pepper can accept our White Label Partner s forms. 4. Welcome Letters Welcome Letters are automated and generated the morning after the date of settlement. The Welcome Letters are branded with your logos that you have provided to us. The Welcome Letter contains the following information: Loan number Loan balance Minimum repayment required and frequency Loan Service Net (LSN) access details Direct Debit details Insurance details Contact details (contact details will depend on servicing arrangement with Pepper) 3

6 5. Statements Home Loan Statements are issued bi-annually (January and July) and are auto-generated and sent from the Pepper mail-house. All statements are branded with your logos that you have provided to us. Interim statements can be obtained and biannual statement reprinted from Loan Adviser. Bi annual loan statements contain the following information: Loan Number Running loan balance Interest rate Total interest charged for the statement period Redraw available Amount and date of next required payment Accrued interest for the current interest period 6. Redraw - Manual Pepper allows borrowers to redraw additional payments made to their loan account. This is carried out by providing a Pepper Redraw form signed by all parties to the loan and accompanied by current photo and signature ID (e.g. valid passport or drivers licence). Requests need to be ed to the Pepper Servicing team by 2pm (Sydney time) to enable us to process the transaction on the same day. The Pepper Redraw Form requires the following information: Loan Number Client name and contact details Redraw amount (minimum $1,000) Signatures for all borrowers/guarantors Account where funds are being transferred (must match the current linked account) Reason for redraw 4

7 7. Consents and Variations Pepper can assess and settle certain changes to securities and loans. All matters are subject to Pepper s relevant Credit Policies. The following Consents and Variations can be forwarded to Pepper for assessment: Boundary realignment request Partial discharge request Subsequent mortgage request Consent to lease Notification of damaged property Easements and other encumbrances Notice of death and survivorship Plan of consolidation Subdivision of security Substitution of security Transmission application Notice of bankruptcy If a customer submits a matter that is outside of these categories, please refer to Pepper for guidance. On receipt of a customer request for Consent or Variation, please the details of the request, including any relevant documentation to securities@pepper.com.au. Due to the complex nature of these variations and requirements for completion, the Pepper securities officer will liaise directly with the customer or their solicitor. The White Label Partner will be able to view all related loan notes in Loan Adviser or a request for an update to securities@pepper.com.au. Please phone our Contact Centre, or an Escalation Point, for any urgent matters. 5

8 8. Loan Maintenance and Payment For self-managing White Label Partners, the following loan maintenance requests can be actioned by the White Label Partner on Loan Adviser: Requests for ad-hoc statements and biannual statement reprints Ability to add loan notes The Pepper servicing team processes all other requests as required. These can include, but are not limited to: Updates to customer contact details Changes to a nominated account Payment frequency changes (weekly / fortnightly / monthly) Lump sum direct debit requests Reissue of LSN access details When changes are required to be processed by the Pepper servicing team, please the details of the request, including any relevant documentation to partners@pepper.com.au. Standard requests will be processed within hours. 9. Customer Service Pepper Customer Service is available to assist with any customer enquiries. Standard loan information is available on Loan Adviser; however the Pepper team are available to help for any in-depth enquiries. Our Customer Service team can liaise directly with the customer, or with a representative of the White Label Partner. Please call our Contact Centre on , for assistance. 10. Servicing The Pepper Servicing team are available to assist with any administration matters, including Redraws, Discharges and Direct Debit updates. Please our Servicing team at partners@pepper.com.au with any customer requests, or call our Contact Centre on , for assistance. 6

9 11. Collections Pepper provides comprehensive and end to end collections activity for customers who have fallen into arrears on their loan. Our collections officers will work directly with the customer to find a solution to their situation. Pepper will also instruct their Panel Solicitor for any legal matters. For any enquiries, please contact our Collections team on Full Discharges Borrowers are required to complete a Full Discharge Authority (FDA) and return this to the relevant White Label Partner. The White Label Partner will then forward the FDA to Pepper, enabling us to commence the discharge process. Once the FDA is received, our Servicing team will instruct our Panel Solicitor within 12 days. If Pepper receives a request directly from the borrower, the White Label Partner will be notified to enable any retention process to be completed. Pepper will allow 2 business days for this process to be completed before proceeding with the discharge. Pepper will need to be notified of any successfully retained loans to ensure the discharge process is stopped. The Servicing team will liaise with the Pepper panel solicitor throughout the discharge process. A report listing loans pending discharge can be obtained from Loan Adviser. 7

10 13. Global Interest Rate Changes Pepper s Treasury and Finance Department meet on a regular basis to review the current funding rates of its portfolios. Pepper will the White Label Partner advising of the rate movement once a decision has been made. Letters to borrowers advising of rate changes are automated and are branded with the White Label Partner s logos. Letters advising of any change to the minimum monthly instalment (MMI) amount are sent on the anniversary date following the rate change. The new MMI is due on the next anniversary date following the date of the letter. 14. Commissions Payment of upfront and trail commissions will remain unchanged from the normal Pepper process. There will be no change to pricing or the method of calculation. If you also have loans in the GE portfolio, there will also be no changes to the way your trail is calculated or paid. 8

11 Pepper Group Limited, Australian Credit Licence Number , is the servicer of loans made by Pepper Finance Corporation Ltd ACN