Procedures
The minimum number of employment months that should be entered into ML?
What is 24 months?
What is the max loan amount and term on a holiday loan?
What is: $2,000 for 12 months
What does the WMC stand for?
What is Worker Member Council?
How much is the CA-DMV transfer fee?
What is $15
What is the max term on an auto loan less than 5 years?
What is 84 months
When can we use SSI as income for a loan?
What is, we cannot use Rep Payee income but we can use child SSI as long as they are under 18 for the term of the loan or 3 years whichever comes first.
How is a payment calculated on an unsecured MC?
3% of balance or $10, whichever is greater
What is our mission statement?
What is to create and protect ownership and economic opportunity for all?
Within how many days after an auto loan funding should fees be posted to avoid penalties?
What is 30 days?
What qualifies an applicants as a First Time Borrower?
What is no credit score due to no credit or a thin credit file (less than 12 months old) with no previous auto loans and no derogatory credit
Name the 5 auto rate discounts?
What is: 1) Green Vehicle; 2) LTV<90%; 3) Enroll in direct deposit, share to loan transfer and e-statements; 4) Have or open a CD or IRA account of at least $5,000; and 5) Have at least one previous credit union loan of $10K or more paid on time and in full with at least 36 months of payment history (no 30+days)
What is the maximum loan terms on HELOC’s?
What is: 120 month draw period, 120 month repayment period and 240 month total term.
How many retail branches do we have at Self-Help Federal Credit Union?
What is 38?
Name 3 types of branded titles:
What are:
What is the max mileage, age, PTI and DTI for a First Time Borrower loan?
What is 150 miles, 15 years, 15% PTI and 42% DTI
4 special considerations while analyzing a loan application/credit report
What is: 1) Bankruptcy; 2) foreclosure or short sale; 3) credit counseling services; or 4) currently delinquent accounts
What is the max term for a share secured loan?
What is: 84 months
What are 3 core values?
What are:
Name 3 forms with the Reg # needed to remove/add a person from a title:
What are:
Name all the vehicle financeable items:
What is: Transaction-related taxes, tags and registration, transaction fees, Carfax fee, GAP insurance, and extended warranty premiums.
If a borrower states they are working for a temp agency, what’s the minimum time needed?
Minimum 18 months and we should average over that period of time.
Name the 4 guidelines for a first time borrower on a signature loan?
What are:
What are the five seeds for ASEED?
What is:
Name at least 3 areas not allowing an exception:
What is: