ACT NOW
The steps during your immediate conversation with the customer to help deescalate the situation.
What is ACT NOW?
What is the Processing Department?
The phrase that describes the company's overall approach to exceptional customer experiences to both internal and external customers.
What is Love the Customer?
The maximum LTV allowed without requiring mortgage insurance.
What is 80% LTV (loan to value)?
First mortgage loan options that allow up to 100% Loan to Value financing.
What is a VA or USDA loan?
___________ the customer’s need within 24 hours (we strongly encourage same day!).
What is the A (Acknowledge) in ACT NOW?
First team member to communicate with customer.
Who is the Loan Consultant?
Part of the HOME stagey that emphasizes starting every interaction with a warm, sincere greeting to set the customer at ease.
What is Heartfelt Hello?
A home loan with an interest rate that starts fixed for a period and then adjusts periodically based on market index plus a lender set margin.
What is an Adjustable Rate Mortgage?
This loan program allows down payments as low as 3% for qualified customers with additional PMI.
What is Conventional Financing?
Acknowledging concerns with empathy, asking questions, and listening.
What is C (compassion) in ACT NOW?
This department has 5 sub-departments including Collateral, Government Insuring, Interim Servicing, Purchase Clearing, and Shipping.
What is the Post Closing Department?
A commitment to providing exceptional customer experiences by reflecting behaviors such as; professionalism, maintain friendly, uplifting demeanor, deliver quality, and take pride in every customer interaction, every day.
What is a service Non-Negotiable?
Offers lenders legal protection when specific underwriting and fee limitations are met.
Offers 3% and 5% assistance on FHA loans.
What is Chenoa?
Own the resolution and follow through with solutions, even if they differ from the customer’s.
Issues insurance policy that protects the lender's interest in the property against covered title defects.
What is title company or Inspired Title?
Tracks survey results, customer concerns, and management touch calls.
What is Encompass Customer Experience Form
What is DTI (Debt-to-Income Ratio)?
Paying customers mortgage insurance instead of them financing it.
What is Lender Paid Mortgage Insurance or LPMI?
Indicates urgent issue requiring immediate action including notification of leadership and other relevant departments
What is an ACT NOW Flag?
Department responsible for the content referenced in Ask Ruby.
Who is PMO?
How we show up for our customers and team members every day with a heartfelt hello, outstanding observation, making magic happen, and extending gratitude.
What is the HOME customer service strategy?
Regardless of department, every team member plays a role in identifying and escalating this risk.
What is Fraud?
Maximum loan amount with 25% guaranty.
What is the VA loan program?