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All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source. |
| SOUTH AFRICAN QUALIFICATIONS AUTHORITY |
| REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE: |
| Evaluate the impact of changes to details after bond registration on the finance agreement |
| SAQA US ID | UNIT STANDARD TITLE | |||
| 13421 | Evaluate the impact of changes to details after bond registration on the finance agreement | |||
| ORIGINATOR | ||||
| SGB Banking and Micro Finance | ||||
| PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY | ||||
| BANKSETA - Banking Sector Education and Training Authority | ||||
| FIELD | SUBFIELD | |||
| Field 03 - Business, Commerce and Management Studies | Finance, Economics and Accounting | |||
| ABET BAND | UNIT STANDARD TYPE | PRE-2009 NQF LEVEL | NQF LEVEL | CREDITS |
| Undefined | Regular | Level 5 | Level TBA: Pre-2009 was L5 | 14 |
| REGISTRATION STATUS | REGISTRATION START DATE | REGISTRATION END DATE | SAQA DECISION NUMBER | |
|
Passed the End Date - Status was "Reregistered" |
2018-07-01 | 2023-06-30 | SAQA 06120/18 | |
| LAST DATE FOR ENROLMENT | LAST DATE FOR ACHIEVEMENT | |||
| 2026-06-30 | 2029-06-30 | |||
| In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise. |
This unit standard does not replace any other unit standard and is not replaced by any other unit standard. |
| PURPOSE OF THE UNIT STANDARD |
| This unit standard is intended for all learners in the mortgage finance field.
Persons credited with this unit standard will be able to evaluate impact of changes to the individual and non- individual borrower, evaluate impact of changes to property, explain the impact of changes to mortgage loan and the impact of default on the mortgage loan. |
| LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING |
| It is assumed that the learner understand basic concepts related to property, ownership, security and mortgage bonds as a specific type of security. This includes an understanding of the bond registration process. Learners should be competent in Communication at level 3. |
| UNIT STANDARD RANGE |
| N/A |
| Specific Outcomes and Assessment Criteria: |
| SPECIFIC OUTCOME 1 |
| Evaluate impact of changes to the individual borrower |
ASSESSMENT CRITERIA |
| ASSESSMENT CRITERION 1 |
| 1. The impact of a change to a borrowers name or addition of a name to the title deed is evaluated according to the legal and financial impact of such a change. |
| ASSESSMENT CRITERION 2 |
| 2. The impact of the death of a borrower on mortgage finance relationship is evaluated and explained according to the legal and financial impact of such a change. |
| ASSESSMENT CRITERION 3 |
| 3. The impact of a change in marital status of a borrower on the mortgage finance relationship is evaluated and explained according to the legal and financial impact of such a change. |
| ASSESSMENT CRITERION 4 |
| 4. The impact of the substitution of a debtor on the mortgage finance relationship is evaluated and explained according to the legal and financial impact of such a change. |
| ASSESSMENT CRITERION 5 |
| 5. The impact of insolvency a borrower on the mortgage finance relationship is evaluated and explained according to the legal and financial impact of such a change. |
| ASSESSMENT CRITERION 6 |
| 6. The action to be taken on the part of the bank in relation to changes to the individual borrower are identified and explained according to the general banking policy and procedure. |
| SPECIFIC OUTCOME 2 |
| Evaluate the impact of changes to the non-individual borrower |
ASSESSMENT CRITERIA |
| ASSESSMENT CRITERION 1 |
| 1. The impact of a change to the directorship of a company on the mortgage finance relationship is evaluated and explained according to the legal and financial impact of such a change. |
| ASSESSMENT CRITERION 2 |
| 2. The impact of a change to membership of a close corporation on the mortgage finance relationship is evaluated and explained according to the legal and financial impact of such a change. |
| ASSESSMENT CRITERION 3 |
| 3. The impact of a change of administrator of a trust on the mortgage finance relationship is evaluated and explained according to the legal and financial impact of such a change. |
| ASSESSMENT CRITERION 4 |
| 4. The actions to be taken by the bank to affect changes to the non-individual borrower are identified and explained according to the general banking policy and procedure. |
| SPECIFIC OUTCOME 3 |
| Evaluate impact of changes to property |
| OUTCOME RANGE |
| Sub division, release of portions, consolidation, registering a servitude, rezoning. Evidence of competence across the full range is required. |
ASSESSMENT CRITERIA |
| ASSESSMENT CRITERION 1 |
| 1. The nature of the change to the property is explained according to the legal definition of the changes. |
| ASSESSMENT CRITERION 2 |
| 2. The extent of the change to the mortgage finance relationship is evaluated according to the legal entitlement to the property. |
| ASSESSMENT CRITERION 3 |
| 3. The extent of the change to the mortgage finance relationship is evaluated according to the financial impact of such a change. |
| ASSESSMENT CRITERION 4 |
| 4. The risk associated with changes to the property are highlighted and explained with the use of examples according to the impact on the mortgage finance relationship. |
| ASSESSMENT CRITERION 5 |
| 5. The action to be taken on the part of the bank in relation to changes to the property are identified and explained according to the general banking policy and procedure. |
| SPECIFIC OUTCOME 4 |
| Explain the impact of changes to mortgage loan |
| OUTCOME RANGE |
| Rate changes, term of loan changes, investments, paying up the loan, cancellation, further bond, 2nd bond in favour of a 3rd party. Evidence of competence across the full range is required. |
ASSESSMENT CRITERIA |
| ASSESSMENT CRITERION 1 |
| 1. The reason/motivation for changes to the mortgage loan are identified and explained according to the bank's policy and procedure. |
| ASSESSMENT CRITERION 2 |
| 2. The financial the impact of the changes to the loan on the borrower is explained using examples. |
| ASSESSMENT CRITERION 3 |
| 3. The action to be taken on the part of the bank in relation to changes to the mortgage loan are identified and explained according to the general banking policy and procedure. |
| SPECIFIC OUTCOME 5 |
| Explain the impact of default on the mortgage loan |
ASSESSMENT CRITERIA |
| ASSESSMENT CRITERION 1 |
| 1. The administrative and legal process evoked by default of a borrower is explained according to the general banking policy and procedure. |
| ASSESSMENT CRITERION 2 |
| 2. The administrative and legal process of foreclosure of the loan by the bank is detailed and explained general banking policy and practice. |
| ASSESSMENT CRITERION 3 |
| 3. The financial impact of default on the borrower and the bank is evaluated and illustrated with the use of examples. |
| ASSESSMENT CRITERION 4 |
| 4. The legal impact of default on the borrower and the bank is evaluated and illustrated with the use of examples. |
| UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS |
| 1 Anyone assessing a learner against this unit standard must be registered as an assessor with the relevant ETQA.
2 Any institution offering learning that will enable achievement of this unit standard or assessing this unit standard must be accredited as a provider with the relevant ETQA. 3 Moderation of assessment will be overseen by the relevant ETQA according to the moderation guidelines in the relevant qualification and the agreed ETQA procedures. Therefore, anyone wishing to be assessed against this unit standard may apply to be assessed by any assessment agency, assessor or provider institution that is accredited by the relevant ETQA. |
| UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE |
| The knowledge acquired in this standard relates to a thorough understanding of the parties and their legal entitlement following the registration of a mortgage bond. This includes the impact of changes in circumstances or details and how these changes effect the original agreement and legal entitlement. The criteria against which this knowledge is evaluated are expressed in the standard. |
| UNIT STANDARD DEVELOPMENTAL OUTCOME |
| N/A |
| UNIT STANDARD LINKAGES |
| N/A |
| Critical Cross-field Outcomes (CCFO): |
| UNIT STANDARD CCFO IDENTIFYING |
| In this standard the learner demonstrates the ability to identify and solve problems when action to be taken on the part of the bank in relation to changes to the property are identified and explained according to the general banking policy and procedure. |
| UNIT STANDARD CCFO COLLECTING |
| In this standard the learner demonstrates the ability to collect, organise and critically evaluate information when impact of insolvency a borrower on the mortgage finance relationship is evaluated and explained according to the legal and financial impact of such a change. |
| UNIT STANDARD CCFO CONTRIBUTING |
| In this standard the learner demonstrates the ability to understand the relationship between the financial the impact of the changes to the loan on the borrower is explained using examples. |
| UNIT STANDARD ASSESSOR CRITERIA |
| N/A |
REREGISTRATION HISTORY |
| As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. |
| UNIT STANDARD NOTES |
| Additional information:
Legal requirements: All procedures must meet recognised codes of practice as well as obligations required by current legislation within South Africa and within the normal parameters of the defined job/task. |
| QUALIFICATIONS UTILISING THIS UNIT STANDARD: |
| ID | QUALIFICATION TITLE | PRE-2009 NQF LEVEL | NQF LEVEL | STATUS | END DATE | PRIMARY OR DELEGATED QA FUNCTIONARY | |
| Elective | 61589 | National Certificate: Banking | Level 5 | Level TBA: Pre-2009 was L5 | Passed the End Date - Status was "Reregistered" |
2023-06-30 | As per Learning Programmes recorded against this Qual |
| PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: |
| This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here. |
| 1. | Absa Learning & Development |
| 2. | AFRICAN BANK LTD |
| 3. | Chartall Business College |
| 4. | Plumb Line Risk Alignment |
| 5. | Riverwalk Trading 151 CC trading as Culhane Consulting |
| 6. | The Institute of Literacy Advancement |
| 7. | THE SHERQ CENTRE OF EXCELLENCE PTY LTD |
| All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source. |