October 5th, 2004

Random Violin

In Which We Play With Acronyms

I got my own DRA! Delegated Risk Authority, which means I can approve customer's loans up to $300,000 combined OOT. For the pig-ignorant, that's One Obligor Total, or combined secured and unsecured loans with SGB. Which stands for St.George Bank. At this stage I only have an approval code for LIS loans (Lending Information System) but my CLAS code (haven't the foggiest but it's a wonderful system!) won't be too far away. And I can practically guarantee that every loan I approve for the next three months will be called by DQC (Document Quality Control) to check that I'm doing things correctly. Making sure that every LMI incidence (Lender's Mortgage Insurance) has a RAP (Risk Assessment Profile) accompanying it, (depending on the LVR - that's loan/value ratio) and that no loan is approved on a CCR of less than 1.1x (commitment cover ratio).
Put two lenders in a room together and their conversation would be unintelligible to anyone else!
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