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    After working as a broker for almost seven years, Vincent Moore has established himself as a partner at Melbourne’s Entourage, recently topping the $10m per month threshold in settlements.

    MPA spoke with Moore about how he got started in the industry and why he thinks tricky loans are like solving a jigsaw puzzle.

    An easy choice to make

    In 2013, after studying international arts at university, Vincent Moore found himself faced with a choice – to work in asset finance or in the home loans department with his then employer Stratton Finance.

    For Moore, the decision was an easy one to make.

    “I was so keen on home loans,” he says, explaining that his passion for property and building long term relationships with clients made residential lending an attractive proposition.

    He says the level of complexity involved in home loans also appealed to him.

    After working in an admin and support role for about six months he jumped into the world of mortgage broking.

    “I probably got twisted into being a broker a bit too early,” he says. “It forced me to learn very quickly. From there I worked at Stratton for three or four years and then I moved across to Entourage where I am currently.”

    A good work culture helped him thrive

    Moore says what most appealed to him about Entourage was its culture and strong reputation.

    He says since mortgage broking can be a stressful job, having a good culture with a strong boss and helpful support staff is vital for a healthy mindset.

    Fast-forward to the present and Moore says he has had several career highlights.

    The most recent one was writing $10m in settlements in a month. He says this was a huge milestone that he now aims to exceed time and time again.

    Another highlight happened late last year when Moore became a partner at Entourage.

    “That was a big deal for me,” he says.

    “My long-term plan was either own my own brokerage or become partner of one.”

    “I think to be a partner in a business as good as Entourage which has won so many awards and is so well looked upon in the mortgage broking community is huge.”

    “I’m so proud to be a part of that.”

    From tricky loans to first home buyers

    He says in the early days of his career as a broker he developed an appetite for tricky loans based on the fact that so many customers would see him after being knocked back by the banks.

    “The thing about tricky loans is that you’ve got to be very analytical about them.”

    “It’s a bit like a jigsaw puzzle. You have to slowly put all the pieces together, know where to start and do it very logically.”

    “I love the challenge in doing that.”

    “It’s good to have those curve balls to keep you on your feet and help you learn.”

    Nowadays he focuses more on first home buyers in response to a shift in clientele.

    He says the COVID-19 pandemic has posed some extra challenges in getting home loan applications over the line for borrowers across the board. He says because of the economic uncertainty caused by the coronavirus, taking a common sense approach and asking more questions of borrowers has become even more important.

    “Banks are now asking questions that we should already be asking, such as how secure is your employment?”

    He says this sort of questioning has always been an essential part of submitting low doc applications.

    With some lenders more willing to accept changed circumstances in the borrower’s income due to COVID-19 than others, Moore says knowing which lender to go with is a case by case proposition.

    “It’s interesting to see that lenders are taking a mixed approach.”

    “I have called two lenders with the exact same scenario,” he says, explaining one was able to give formal approval whereas the other couldn’t offer a loan.

    He says the increased scrutiny placed on lenders and brokers over the past couple of years has helped mortgage professionals develop a better level of understanding and care for their clients which is now serving to help them throughout this current COVID-19 crisis.

    “It’s probably encouraged brokers to research well and to know the client a lot better, which is important because if it was three or four years ago when this coronavirus hit, potentially the industry wouldn’t be as suited to deal with it.”

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    Original Article