Lenders' Mortgage Insurance Application Guide

This document is a guide for applying for Lenders' Mortgage Insurance (LMI) with QBE Lenders' Mortgage Insurance Limited, one of Australia's largest mortgage insurers. It outlines the necessary steps and requirements for submitting an LMI application, including the duty of disclosure that borrowers must adhere to. The guide details the information that must be disclosed to QBE LMI, such as the borrower's credit history and any relationships that may affect the transaction. It also provides instructions on the documentation needed for a full income application, including income verification and servicing calculations. Additionally, the guide explains the process for completing the lmiPROPOSAL and the importance of compliance with applicable laws and minimum verification standards. The document serves as a reference for lenders and brokers to ensure that all necessary criteria are met when applying for LMI.