MARKET DIFFERENCES/FUNDING
Do we need a hold check agreement for a deferred DP, in the state of California ( Itemized on TILA section of the RISC)
NO
If an indirect is received on a landline that ties back to the business, with POI waived due to risk evaluation. Is an exception needed to proceed with clearing VOE?
Yes
Which title app is not required when the vehicle is new? (California)
Report of sale
Which market accepts 30% DP CASH ONLY to waive POI/POR?
Strategic and STG ( only one needed)
Name 3 acceptable questions to ask on a fraud call
I will know.
Name 3 out of 6 markets we can accept verbal confirmation for MAJOR MECHANNICAL ISSUES
AutoNation, Mike Maroone, Enterprise, Hertz, AVIS, & Echo Park
Name 3 sources to proceed without the Drivers license ( No ID alerts firing)
POI on file, VOE/CC completed, TLO, CBR, Lexus Nexis.
What ID can we not accept in Texas?
Matricular Consular
What is STG's total product allowance?
$5599
What fee percentage must be captured, when a model score drops by 4-6 points? (Reviewing a CDA)
75% minimum
Enterprise and AutoNation
If the taxes do not match on the paystub, but VOE is completed, can we proceed?
Yes
What is the minimum ATF for California?
$2500
How much is Enterprises processing fee?
They do not have one.
When reviewing a placeholder SSN DB, and a tier 1 call is not present. What is the first step that should be taken?
Decline application
What market can we use the pre contract disclosure for the buyers order?
Lithia
Name the 3 ways we can verify a military employment.
LES statement, SCRA, military ID.
In Colorado, What is the max front end LTV where GAP cannot be sold?
150%
Which market has asked us to not waive POI/POR for 30% DP?
Hendrick
Name the first step when reviewing Inflated Trade.
Review the CarFax for the trade vehicle.
What state do we non need confirmation of possession prior to funding?
Massachusetts
Income exceptions when the front-end amount financed is equal to or greater than $80,000. Who can clear?
Manager and up
What is the maximum motorcycle doc fee?
$200
Name the motorcycles types that ACA will finance
touring, cruiser, or 3-wheel motorcycles that have 2 rear wheels. ( We will accept 3-wheel motorcycles only as an answer)
Name the 3 reasons to turn down a Bankruptcy DB.What is the first step when reviewing inflated trade?
Chapter 13 Bankruptcy open within 6 months of today's date. Pull Carfax on the traded vehicle.
Chapter 13 Bankruptcy dismissed within 6 months of today's date.
Multiple Bankruptcy filings (3+)