RFD
A customer says they are overwhelmed with expenses and waiting on SSI. What is the most appropriate-
A. RFD 01 · Curtailment of Income
B. RFD 07 · Excessive Obligations
C. RFD 23 · Servicing Problems
D. RFD 26 · Payment Adjustment
RFD 07 – Excessive Obligations
Explanation: The customer is overwhelmed with expenses and waiting on SSI, indicating financial strain
What does PTP stand for?
A. Payment Transfer Protocol
B. Promise to Pay
C. Pay to Party
1. B
What is the first item in the HELOC payment hierarchy?
1. Periodic Finance Charge
What should you do if a customer says they didn’t receive their statement?
A. Select RFD 07 – Excessive Obligations
B. Select RFD 23 – Servicing Problems
C. Select RFD 01 – Curtailment of Income
D. Select RFD 26 – Payment Adjustment
RFD 23 – Servicing Problems
Explanation: Not receiving a statement may indicate dissatisfaction with servicing.
Which code is used for a commitment via online for less than TAD?
A. CLDO
B. CTDO
C. CRIO
D. CLDE
2. A
2. Can homeowners pay ahead on HELOC loans?
2. No (BONUS, WHY?)
customer was unaware their payment amount changed. What RFD should you consider?
A. RFD 01 – Curtailment of Income
B. RFD 07 – Excessive Obligations
C. RFD 26 – Payment Adjustment
D. RFD 23 – Servicing Problems
RFD 26 – Payment Adjustment
Explanation: Unawareness of payment change suggests an escrow or ARM adjustment
what code is used for workout referral?
A. TOR
B. WOUT
C. WKOT
D. REFW
9. A
5. What is the one-time courtesy exception for HELOC payments?
5. Reversal from Curtailment to payment
What is a key question to ask when identifying the correct RFD?
A. Did the customer receive a statement?
B. What caused the missed or short payment?
C. Was the customer transferred to another agent?
D. Did the customer mention SSI?
What caused the missed or short payment?
Explanation: This question helps identify the root cause of delinquency.
WHAT CODE IS USED WHEN ACCOUNT IS CURRENT?
A. IBNC
B. CURR
C. LCUR
D. NONE
11. A
8. What determines if excess funds can be reversed?
8. Homeowner's comments and timing
What should be included in your notes to support RFD selection?
A. Customer’s exact words
B. Reason for delinquency
C. Follow-up actions
D. All of the above
D – All of the above
Explanation: Notes should include customer’s words, reason for delinquency, and follow-up actions
WHAT DOES THE ACTION CODE ASP REPRESENT?
A. APPLY SPECIAL PAYMENT
B. ACCEPT SCHEDULED PAYMENT
C. APPLY SUPPOSED PAYMENT
D. NONE
A.
What must be true for funds applied to Curtailment/Principal Reduction to be reversed?
4. Homeowner intended it for payment and applied within 60 days