Lending
Give 5 items that should be in a complete application
Housing Status
Assets
Income
Employer phone number
Rent amount
When can you leave a message for a reference?
Never
What is required in order to discuss an account with a 3rd party?
Written authorization from the customer stating that person's name. Can be email from customer's email, or text. Email must be scanned to file.
What income from a paystub do we use when verifying income and what deductions do we take out?
Gross income/ 401K loans, garnishments, child support debts
What year was the very first model of the iPhone released?
2007
What is the max LTV on a partially secured B grade loan?
200%
In what year was Lendmark founded?
1996
How many times can we leave a message for a customer a day?
Two
What level can clear HRF for disposable on a new loan?
Level 8
Which popular TV show featured house Targaryen and Stark?
Game of Thrones
Why do we offer optional credit protections and ACH on loans?
Protect our loans and customers in event something happens, stability of portfolio, reduces losses
What is required in order to use Midyear income calculation?
3 months at job, proof of hire date, current paystub
How do you clear a SSN never issued exception?
What country the customer moved from and when.
How does a customer qualify to waive income?
Proceeds less than $1000 and score over 600 or has made 4 payments in last 180 days and IRP with $100 max cash- VP has to approve
When Michael Jordan played for the Chicago Bulls, how many NBA Championships did he win?
Six
Why do we ask for assets on a loan?
Opportunity to secure, possible upsells, and lower charge-off rate.
How many states does Lendmark have branches in?
21
How many times can we call a reference?
Once a week
What do you do on an account when you have proof a customer is deceased?
Enter Date of Death and add it to special comments.
Turn off Statements.
Turn off Mail.
If no insurance and no collateral, request to write off.
What is the name of the world’s longest river?
The Nile
What is target Average Loan Size?
$7300
What are the requirements to Re-age an account?
3 payments in the last 3 months.
What do you do if we receive a cease and desist request from a customer?
Stop collection activity, make sure manager is aware, if a letter scan into repository or put letter in file, note account. Go to Actions/Holds and input action code 250, Remove # in CIM and move to special comments, Enter correct Do Not Call indicators in CIM
When can a payment not increase on a loan?
IRPs for $0-$500, if disposable is <$700 and/or DTI >60%
Any RBO renewal
Which country produces the most coffee in the world?
Brazil