Mr Joseph Harper, a new client, has called your office and has complained about the time it is taking to get a decision on his loan application which was submitted 10 days ago.

The average turnaround time with this lender is 14 working days. The loan also requires lenders mortgage insurance (LMI), which could add a further two days to the assessment time frame.

The client had been expecting a decision for three days now and is getting quite anxious as they've made an offer on a property subject to finance. They only get 14 days to confirm finance approval so he is very worried they may miss out on the property.

(a) Describe the steps you will take to resolve this complaint. Include the stakeholders you will refer to in the resolution process.

(b) Describe the resolution you will communicate to the client.