Brass/Bronze
What stores are Brass and Bronze? (2 parts)
Brass=0007 and Bronze=0008
Once we have a completed the verbal verification process and customer signs the loan agreement, the loan is now what?
Properly Originated.
Which rewards customers DO NOT need a bank verification call to determine clearance of funds?
Silver, Gold and Platinum
List 2 SUBJECTIVE red flags
net income does not match occupation type
suspicious email address
applicant has a delayed/confused response
applicant cannot enunciate their name properly
applicant's voice does not match age or gender
An alternative credit reporting agency owned by TransUnion
What is Factor Trust
What customers are eligible for Brass?
New customers earning less than $3,500
In auto-origination cases, the loan is properly originated when?
Once the customer has signed the agreement
What must be examined for in a customer's history?
For the life of the current loan in the cool off period to ensure that there were not returned payments in the loan series prior to expressing a new app for this customer.
An Instant ID check or bank call is needed when there are how many Factual red flags
One
What is one thing we don't tell customers regarding credit reporting agencies?
We never report to any credit reporting agencies
What customers are eligible for Bronze?
New customers earning MORE than $3,500
After advising the customer to rescind their loan in an email by the deadline, what will occur if they do no respond?
The existing loan remains
What must you advise the customer regarding their final payment?
If for any reason the final payment returns, the customer is responsible for that returned payment as well as the payments for the new loan.
When there are two or more Subjective red flags detected while speaking to a customer, what must be done?
If a customer wants to dispute the information that is included on their credit report, what do you do?
Warm transfer call to OOO
What are the max and min for Brass and Bronze? (4 parts)
Brass=Max $2,000 Min $500
Bronze=Max $2,250 Min $900
If a customer is no longer interested and the loan has been properly originated, what must happen for the loan to be rescinded?
The customer must email directing us to rescind the loan
What are the store numbers for COVID19, PLATINUM, BRONZE and Green 2?
COVID 19=0005, PLAT.=0035, BRONZE=0008, GREEN2=0003
List 4 FACTUAL Red Flags
bank acct. changes
mult. changes/shared PII data
falsified docs
CRA alert
using in-house terms
verbal cust.'s voice different when doing employment verification
online employ. verif.- work # doesn't match employer listed
conflicting contact info within reopening window
How often is a credit check ran? (2 parts)
We have the authority to complete a credit check:
When approving the application
While any money under the loan is due.
What is the progression for Brass and Bronze PIF's? (2 parts)
Brass PIF = Silver (store 0015)
Bronze PIF = Platinum (store 35)
If a customer wants to obtain a loan for a different amount, what must be done?
-Advise the cust. we need to cancel the existing loan & complete the application process to get them a loan for a different amount.
-Send email to customer regarding their request
-If they reply, proceed and rescind existing loan then start a new expressed application for the new loan amount.
NEW and VIP customer's require a BV for clearance of funds if what? (2 parts)
If the last payment was for $400 or more
if there is a return item in the life of the loan
What is the Red Flag Talk-Off when a Customer Refuses Instant ID/Bank Verification or Fails (3 parts)
W/D application as FRAUD
Activate the Fraud Suspected Flag in TRAN
Send email to DL FRAUD ALERTA
Defaulting on a loan does what to your credit score? (3 parts)
We can report the account status when the loan is past due to alternative credit agencies
Your credit report may or may not be impacted based on the reporting of this loan.
We encourage you to monitor your credit from various credit monitoring services to evaluate your credit score.