5 C's of Credit
This C represents the borrowers reputation or track record for repaying credit
What is Character
An LOC with a high credit of $125,000 can have its payment adjusted to this % of its balance?
What is .5%?
When working a Saturday your shift starts at this time
What is 10:30 am
This is the site we use for Quebec Articles?
What is Cidreq
If Fico is under 680 and ATF is over $80,000 or TDSR is over 50% this is required?
What is POI
This C shows how well a borrower can repay a loan by comparing their income against recurring debts
What is Capacity
An LOC with a high credit of $270,000 can have its payment adjusted to this % of its balance?
What is .25%?
When reviewing a CONSUMER deal this is the time it should take from start to finish
What is 10 minutes
This is where we would most likely search if we couldn't find a Cidreq or pull a Collateral Guard
What is federal incorporation website?
If a collection is unpaid and over this amount regardless of time on file it must go to Al?
What is $500
This C represents the amount of money (cash/equity) a borrower is willing to put towards their investment
What is Capital
TDSR is the acronym for this?
What is Total Debt Service Ratio
When reviewing a Commercial deal this is the time it should take from start to finish
What is 15 minutes
This is the amount that Roch and Eric can approve for collections on a commercial bureau?
What is $5,000
For a customer to be a thin file they must be on bureau less than 2 years and have less than _____ trades?
This C can help a borrower secure loans. It gives the lender the assurance that if the borrower defaults on the loan, the lender can get something back by repossessing the ________
What is Collateral
A trade that has not been reporting for more than ____ months can be removed from the debt chart.
What is 6 months?
We process all applications on a first in first out basis. What is our target queue time?
What is 20 minutes
This is the amount that Roch and Eric can approve for Legals on a commercial bureau?
What is $30,000
If the ATF is above $150,000 the consumer FICO can not be below _____?
What is 720?
This C represents what lenders look at in regards to the general ________ relating to the loan. This may include the length of time that an applicant has been employed at their current job, how their industry is performing, and future job stability.
What is Conditions
When adding Heat and tax to the debt table you would add this amount for an applicant with an annual salary of $80,000 - $99,999?
What is $350
When a commercial deal Conditionally auto approves, this is the time we are expected to review it in?
What is 1 hour or less?
To remove a payment on a commercial application we need the financial statements to have a professional industry designation (e.g. CMA, CGA, CA, CPA), primary FICO over 720, the commercial entity to be an incorporated company or a partnership and have been operating for this many years?
If the BNI is under this amount it must be referred to Roch or Eric
What is 600?