(Current as at 25 June 2010)

Dispute Resolution Procedure

OBJECTIVE

This document defines the Dispute Resolution procedure in accordance with ASIC Regulatory guide 165 and the rules of Credit Ombudsman Service Limited (COSL). All Northend Mortgage staff need to adhere to this in the event of a complaint from a customer.

1. Complaint

If a complaint, whether formal or verbal is received, it needs to be first registered with the Dispute Resolution Officer. The complaint could be directly by the customer or indirectly via COSL.

2. Contact

Contact arrangements have to be made with the customer within 7 days of receiving the complaint in order to formally understand the issue concerned. Advise customer of the process being taken to assist in resolving the dispute.

A written response is to be provided to COSL by the Dispute Resolution Officer if the complaint is to be resolved directly with the customer. This is applicable if the complaint has been registered with COSL.

3. Investigation

During the interview with customer, all relevant issues need to be properly identified and documented by following the points below. If it is a lender/product related issue, then it has to be resolved in conjunction with the lending authorities. Lender to be contacted and advised of complaint.

• Date of complaint
• How was it lodged, ie. by phone or written
• What is the complaint about, ie, whether product or service level related.
• Can it be resolved readily or needs other intervention.
• What needs to done to resolve, eg, different product
• The likely time frame to resolve.

4. Resolution

All matters need to be fairly and promptly resolved within 28 working days.

Work with the lending institutions and customer to resolve the matter/dispute.

The customer has to be formally told of the outcome.

In the event that a matter cannot be resolved directly with the customer then it should be referred back to COSL.

If the complaint is direct and cannot be rightfully resolved, then the customer should be made aware of the alternative to pursue further with COSL by providing the appropriate contact details.

A copy of the COSL brochure is to be provided to the customer.