PBA Leads
What information is verified on a OB call that is not yet scrubbed?
Phone Number and Zip Code. (If Zip Code is not available, verify email)
When successfully scrubbing a call and transferring the lead to a PB, what disposition do we use?
Transfer-Hot Lead
Can a DHEL go past 2nd Lien position?
No, we can only assume 1st and 2nd Lien position
Can we lend on a property with a reverse mortgage?
No, however, we can pay it off and assume 1st lien position
Are DHEL amortized?
Yes, our loans consist of principal and interest in monthly payments to ensure the loan is paid off in full by the end of its term.
What are the three property types that we can lend on?
Single-Family (Detached), Condos, Townhomes
If all PBs are unavailable and have a BO on the line fully scrubbed, what disposition do we use?
Transfer-No PBs Available
What is the length of our terms?
10, 12, 15, 20 and 30 years
What Property locations do we not lend in?
NY, TX, IA, MD or any U.S Territory
What does TDD stand for?
Telecommunication Device for the Deaf (TDD)
What is the range amount that we can lend?
$35k-$150k
If a BO does not match our guidelines (ex: wants $25,000) and we transfer the call to DPL, what disposition do we use?
Non-Sales Opportunity
Can we lend on a Duplex home?
No, duplex homes are considered multi-family residences.
Do we have any fees upfront to obtain the loan?
No, we have no Appraisal Fees, No Application Fees and No Cash Required at Closing.
Once a loan funds, how long after the funding date does the BO receive payment for ACH?
3-5 Business days
If the original PB is currently unavailable, what would be the next steps?
Offer to transfer to the next available PB, if the BO does not want to be transferred offer VM or a follow up call from the PB.
If a BO does not want to be contacted and we file NSR, what disposition do we use?
DNC-Do Not Call
In remarks, what time zone is NetOxygen when entering a comment?
Eastern Time
What is our minimum FICO score requirement?
620
What does RESPA stand for?
Real Estate Settlement Procedures Act (Regulation X) Policy
What is included in scrubbing questions?
First, Middle and Last Name, Phone Number, Email (if applicable), Street Address, Property Type, Occupancy, Ownership, Loan Amount, Purpose for the loan
If the BO calls in and is currently working with a PB or Doc Collector and transferred the call, which disposition do we use?
Transfer-General Transfer
Do we have a Prepayment Penalty?
No, we do not have any prepayment penalties, but we do have an Early Loan Payoff Cost.
Can we pay off a Discover Account?
No, but we can provide the proceeds directly to the BO to manage at their discretion.
What does HMDA stand for?
Home Mortgage Disclosure Act (Regulation C) Policy