Terms Group 1
What do you have when a person or entity lends money to a borrower?
Loan
Which NEXT would you find a motorcycle in?
CRV NEXT
Where do you go within TLC NEXT to find a lien file?
Lien Management
The entity that collects money from its clients and pools that money together to pay for losses.
Insurance company / carrier/ etc.
Lien request is pulled into a user's worklist.
Lien Request Assigned
Unique number in TLC NEXT that is assigned to a particular lien file.
Lien Request Number
If a vehicle is leased and the lender doesn't provide payoff, what should we ask?
Will the settlement suffice for payment?
Where do you click to ask the adjuster for a declaration page?
Actions-> Request Additional Information
The amount of money the owner pays before the insurance company will cover costs.
Deductible.
When the LOG has been received and uploaded to the file.
Lien Request Complete.
Legal document needed to transfer the title of a vehicle.
Power of attorney POA
In what situation would I build a settlement breakdown?
When the settlement and the MVR total don't match, but the ACV-deductible+sales tax= settlement on the file.
What button do you need to click on after entering pay off information?
Update Lien
Where the insurance company inputs and accesses the data of the loss vehicle.
Portal
When payoff amount fields are entered into NEXT and submitted back to the insurance company.
Pay Off Amount Submitted
A vehicle that cannot be safely repaired.
Total Loss
What do you do if a lender is closed?
Note the file of the situation, post in chat that lender is closed.
What should our first response be if the lender advises they need authorization?
Offer to send the insurance company's written authorization.
A specific product name.
Model
Status manually changed after obtaining payoff info and requesting log from lienholder.
LOG Requested
Ownership of property free of any liens or defects.
Perfect Title
What is the technical name of your position in TLC?
Where can you find Root Insurance's LOG
TLC OneNote > Lien > LOGs and Cover Sheets
Provided by the insurance company containing type of loss that occurred and details on how.
Cause of Loss Statement
When the insurance carrier provides additional information requested.
Additional Information Received