Identity Verification
Offer Selection
Income Verification
Bank Ownership Review
FRAUD / Property Legal Description
100
How can you tell if an ID has passed MiTek?
Green Check on ID tab
100
True or False? An applicant can reselect their offer during the application.
TRUE
100
When can an applicant include spousal income?
Community property and homestead states
100
If the applicant successfully linked an account during the _________ stage they can choose that account for the disbursement of their funds
Income verification
100
Name Any TWO red flags to look out for when inspecting manually submitted documentation?
Eye Color, Photoshopped Image, signature, image cut-off , ghost image
200
What tips can you give an applicant who needs to resend their ID picture for verification that failed the first time?
ID on flat, dark surface
Four corners visible
No shadows, glare, or bluriness
PNG or JPEG file
Phone camera is better than webcam camera
No scans or live photos
200
An applicant selects a 10 year term. What is their redraw period?
3 Years
200
What are eligible accounts for Income Verification?
CHECKING
SAVINGS
200
To add an account manually, they will need their full ______________ and ____________ numbers
Account and Routing
200
Name 2 fraud tools that is used in the application. Describe how it helps prevent fraud.
MITEK
GIACT
300
What are at least THREE red flags to look out for when inspecting an ID for fraud?
Eye color doesn't match, photo looks photoshopped, photo is cut off in corner
300
The HELOC is a fully disbursed product. What does this mean?
Fully disbursed means we give you the full amount of your line of credit upfront.
300
What does "$12" mean when shown on CSP?
If the applicant on CSP states they verified “$12” it is likely that the applicant attempted to link a business account. They will need to link another account or use another method to continue.
It could also mean the account does not have sufficient deposit history.
300
We use _______ to detect information on a disbursement account.
GIACT
300
Which are some identifiers you can use to confirm that a PLD exists on a deed?
Lot, Block, APN
400
What are 3 ways that applicant IDs are submitted by the applicant? (select all that apply)
CHAT
UPLOAD IN CSP
400
What is the line term and initial draw this applicant selected?
Term - 30 Years, Draw is $300,000.00 excluding fee of $15,120.00
400
Where can you look on CSP to see if an applicant has a counter offer?
A - Verified Total Income section of app details
B - Property Tab
C - Application Documents
D - Stated Total Income section of app details
A
400
We can tell applicants to email bank statements to loans@figure.com
FALSE
400
What is a common PLD heading?
Exhibit A
500
An applicant emails a good quality image of a drivers license . They do NOT have an existing document_verification_failure task on their application. Please list out the steps you will take to process the ID.
1. Create a document_verificaiton_failure task with the additional signer selected in the "borrower" section.
2. Work subtask one, and select "Contacted Applicant, Proceed to Doc Upload". Leave notes per the Orig Master Notations Sheet
3. Work subtask two, and select "DRIVERSLICENSEFRONT - US DRIVERS LICENSE" for document type.
4. Attach the file
5. Select "Doc Upload" for outcome
6. Complete the task, and use the Orig Master Notations Sheet for your task note
7. Wait 10-15 seconds, refresh and see if it passed MiTek.
8. If it did, let the applicant know the AS can proceed to their session. If it didn't ask for a new ID image.
500
The HELOC is a fully disbursed product. What does this mean? What is the disbursement timeline in days?
The initial draw will be equal to the maximum line of credit amount with the deduction of the origination fee.
The full amount will be disbursed to the applicant at the time of the funding period via the ACH in 5 business days including a 3 business day in recession period for primary residences.
500
What are the mandatory information needed to complete Paystub Task for regular income
1. Applicant Name without any name Discrepancies
2. Employer name (not same address of the applicant)
3. Start and End Date
4. Pay / Advise date
5. Regular and YTD Income
6. Not a photo from Computer / Mobile Screen
500
When is the bank statement good to pass the document review?
1. PDF from Bank or Online Bank Website
2. Applicant name Matches the bank statement
3. Full Account Number is present, not xxxx123, 4567123
4. The account number is matching with the Disbursement Account.
500
What are the Steps to proceed a PLD task?
App is in Gen Notary Disclosure
Correct ownership has been selected
Primary applicant's name, DOB, and address match on ID and ID is valid/not expired as per MITEK
Correct ownership has been selected
Primary applicant's name, DOB, and address match on ID and ID is valid/not expired as per MITEK
No name discrepancies
No other tasks pending
No other tasks pending