Loans & Credit
These are the two loan types offered at Keesler Federal
What are Secured and Unsecured
These are the three credit bureaus
What are Equifax, Transunion, and Experian
These are the two regulations that we have discussed in class
What are Regulation Z and Regulation B AKA Truth in Lending and Equal Credit Opportunity act
This is the maximum deductible allowed on Keesler Federal Collateral
What is $1000 Comprehensive $1000 Collision
The abbreviation DTI stands for this
What is Debt to Income
These two revolving credit products are offered by Keesler Federal
What are Credit Cards and Lines of Credit
"J" means this on a CBR
What is joint
This Regulation or act requires every financial institution to disclose the terms and conditions of any loan a consumer asks about or applies for
What is the Truth in Lending Act
This is the maximum number of days we can advance a members due date at closing for an unsecured loan
What is 45 days
This is the maximum loan to value (LTV) Keesler Federal will allow members to have on collateral loans
What is 125%
These are the Three Credit Cards offered at Keesler Federal
What are VISA Classic, Visa Platinum, and Visa Signature
This is the last score listed on a credit report
What is the Bankruptcy Navigator Index (BNI)
This regulation or act has the goal of eliminating discrimination from the lending process
What is the Equal Credit Opportunity Act
At this age boats and RVs are required to have an appraisal
What is 10 years
This is the percentage of unsecured debt that Keesler Federal will generally be less inclined to grant additional unsecured credit
What is 35% unsecured debt
These are the two types of credit
What are Open End and Closed End
A member should be given an adverse action letter at what point?
This act protects military members from predatory lending.
What is the MLA?
Vehicle models between ___ and ___ years old are considered tier 2 used autos
What are 7 and 9
This is the dollar amount lenders are authorized to exceed on loan approvals from the underwriters
What is $400
The length of time a member has to close on a loan after the credit is pulled and application initiated if given the decision 3 days after initiation
What is 57 days
MO REV stands for this
What is Months Review
This act was created to protect consumers from billing errors.
What is the Fair Credit Billing Act (FCBA)?
Keesler Federal only grants loans to individuals who are _____ or _____
These are the stipulations for being able to use MSRP on vehicles
What are March 1st, 5,000 miles, and never been titled