SAQA 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: 

Rectify irregularities on mortgage loan records in a banking environment 
SAQA US ID UNIT STANDARD TITLE
7193  Rectify irregularities on mortgage loan records in a banking environment 
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 4  NQF Level 04  36 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

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 for people who are responsible for assuring that mortgage loan records reflect a true status at all times. People credited with this unit standard are able to act on identified irregularities by determining the cause of the variance, taking action to resolve the variance and to confirm the resolved variance. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
Open. 

Specific Outcomes and Assessment Criteria: 

SPECIFIC OUTCOME 1 
Determine the reason for the variance 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. Request to attend to variance is received and recorded according to company specifications. 
ASSESSMENT CRITERION RANGE 
Requests may initiate from, but are not limited to system produced exception lists, correspondence from clients and branches.
 

ASSESSMENT CRITERION 2 
2. Information regarding the variance is obtained according to type of variance and company specifications. 
ASSESSMENT CRITERION RANGE 
Information includes, but is not limited to information obtain from system, documentation in custodianship and reason/code indicated on listings.
 

ASSESSMENT CRITERION 3 
3. The cause of the variance is investigated in accordance with company regulations. 
ASSESSMENT CRITERION RANGE 
Investigation includes, but is not limited to liaising with and gathering evidence from other departments, clients and attorneys.
 

ASSESSMENT CRITERION 4 
4. Findings of investigation are recorded as per company specifications. 
ASSESSMENT CRITERION RANGE 
Recording includes, but is not limited to electronic recording, narration on original request/listings and registers.
 

SPECIFIC OUTCOME 2 
Resolve variances on the mortgage loan record 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. Actions required to resolve the variance are identified according to company specifications. 

ASSESSMENT CRITERION 2 
2. Approval to effect corrective actions is obtained according to company specific regulations. 

ASSESSMENT CRITERION 3 
3. Corrective actions are taken as per variance and company requirements. 
ASSESSMENT CRITERION RANGE 
Corrective actions include, but are not limited to processing of financial transactions and amendment of system information.
 

SPECIFIC OUTCOME 3 
Confirm resolved variances 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. Corrective actions are recorded according to company specifications. 

ASSESSMENT CRITERION 2 
2. Rectified situation is reflected on the mortgage loan record as per corrective actions taken. 

ASSESSMENT CRITERION 3 
3. Interested parties are advised of actions taken to resolve the variance in accordance with company specifications. 
ASSESSMENT CRITERION RANGE 
Interested parties include, but are not limited to clients, internal departments and attorneys.
 


UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
Accreditation process (including moderation):
  • Anyone assessing a learner against this unit standard must be registered as an assessor with the relevant ETQA.
  • 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.
  • 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 which is accredited by the relevant ETQA. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    Learners are able to:
  • Conceptualise mortgage loan process and responsibilities of respective role-players
  • Operate company specific systems to locate, extract and correct data
  • Integrate information obtained from various resources in determining the cause of the variance
  • Effectively interact and liaise with third parties with a focus on solving problems/actions causing irregularities
  • Communicate effectively in the modes of verbal and written presentations
  • Use technology and systems in creating a "picture" of the situation and to address causes of variances
  • Perform financial calculations
  • Apply and realise the implications of applicable finance law per type of variance
  • Recognise the implications of non-compliance to mortgage loan contractual obligations 


  • Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    The learner is able to identify and solve problems in determining the reason for and resolving variances on mortgage loan records, ensuring mortgage loan records reflect a true status at all times. 

    UNIT STANDARD CCFO WORKING 
    The learner is able to work effectively with others when obtaining information from internal departments, attorneys, clients and/or other institutions, ensuring that variances on the mortgage loan record are resolved. 

    UNIT STANDARD CCFO ORGANISING 
    The learner is able to organise and manage his/her activities responsibly and effectively, ensuring that the interest of the lender is protected through accurate and timeous resolving of variances on mortgage loan records. 

    UNIT STANDARD CCFO COLLECTING 
    The learner is able to collect, organise and critically evaluate information when determining the reason for the variance, ensuring corrective actions are based on complete, accurate and valid information. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner is able to communicate both verbally and in writing when obtaining information to resolve variance and advising interested parties of actions taken to resolve the variance on the mortgage loan record. 

    UNIT STANDARD CCFO SCIENCE 
    The learner is able to use science and technology effectively when addressing causes of variances, ensuring that mortgage loan records reflect a true status at all times. 

    UNIT STANDARD CCFO DEMONSTRATING 
    The learner is able to demonstrate an understanding of the relationship between internal departments, attorneys, clients and other institutions and the importance of networking to effectively rectify irregularities on mortgage loan records. 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    Legal requirements:

    Applicable Finance Law

    Assessment against unit standard:

    Assessment practices against this unit standard should meet the requirements of established assessment principles, such as validity, reliability and fairness. Assessment activities and tools, which are appropriate to the context in which learners are working, should be used. The assessment should ensure that all the specific outcomes, critical cross-field outcomes, and essential embedded knowledge are assessed. Learners are required to demonstrate that they can perform the specific outcomes with understanding and reflexivity and, where applicable, within all the situations and circumstances defined by the range statement(s). 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  20185   Further Education and Training Certificate: Banking  Level 4  NQF Level 04  Reregistered  2023-06-30  BANKSETA 


    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. Bidvest Bank 
    3. Chartall Business College 
    4. Cornerstone Performance Solutions (Pty) Ltd 
    5. Felix Risk Training Consultants 
    6. Firstrand Bank - Benmore 
    7. Nedbank Ltd 
    8. The Facilitation Workshop 



    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.