Secured Loans
Loan Underwriting
Associated Products
Credit Cards
Other Lending Tidbits
100
Secured loans over this number of months must be variable rates.
What is 84 months?
100
Below this credit score requires Management approval
What is 639?
100
The number of days in the Disability Insurance waiting period.
What is 30 days?
100
The computer program that Staff uses to access credit card information.
What is Evolve?
100
Two things required on the approval page of a LAPP
What is: Loan Officer's signature Loan Amount Date of approval Type of loan
200
A reason why GAP would be required for the loan approval
What is: an 84 month loan with a GAP?
200
The debt ratio requiring Management approval
What is 46% and above?
200
The type of Insurance that pays off a loan balance if a member dies.
What is Credit Life Insurance
200
The online program where members access credit card information.
What is Access Point?
200
Two loan types that are available for staff only.
What is a Clothing LOC and Computer Loan?
300
The lowest RV/Boat & Motorcyle rate
What is 3.95%
300
The maximum Debt ratio allowed if waiving proof of income
What is: 40%
300
The words that create the GAP acronym?
What is Guaranteed Asset Protection?
300
$200
What is the minimum limit granted?
300
The form you must send the member if denying them a loan.
What is an Adverse Action Notice?
400
Name 2 of the 5 elements that can earn you incentives on auto loans
What is: GAP MBP CL & Disab Auto Solutions Payoff Creditor
400
Name two items which may be used as proof of income.
What is: W-2 Tax Return Pay Stub Account Printout of Deposits or Direct Deposit
400
ADR stands for what GAP term
What is Auto Deductible Reimbusement?
400
The rate that is charged for Share Secured Credit Cards.
What is 9.9%
400
They only loan that must be applied for online.
What is a Student Loan?
500
A document that should be obtained on a New Car purchase if the NADA value is not available.
What is a Dealer Invoice?
500
Loans to whom need to be approved by the board.
What is: Board Members Supervisory Committee Members Credit Union President Member's who's loans fall outside of policy.
500
The words that create the MBP acronym.
What is Mechanical Breakdown Protection?
500
The maximum credit card limit allowed at SSPFCU.
What is $20,000?
500
A loan type that can be granted with no credit and helps a member establish credit.
What is a Credit Builder or Shared Secured Loan?
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