Identity Verification
What are the three ways we can validate a DL?
NADA, online DMV check, phone DMV check
When opening the Lexis Nexis work item you noticed the flags all populate as blank. What's your next step?
In the event that ALL of the red flags populate as blank, you will need to submit an Exception ticket for a TL to manually review.
What are the 3 ways we can complete Funds Verification?
Plaid, 3-way phone call with live Bank Representative, Cashier's Check
True or False: The SxS HALO article overrides the Address Verification HALO Article?
True- The SxS HALO guide is state specific and the Address verification HALO article is a general overview of Carvana policy.
True or False: The date that you review must be the issue date (not the date of bill due).
True- We will make sure the issue date is within 35 days of review.
Customer's DL shows "Robert", however he is insisting that we keep the name on his account "Bob" since this is what he goes by. Are we able to make an exception for Bob?
NO - the customer's name on the DL should match the customer's name on the contracts. No exceptions!
What do you need to get approved before sending a customer a SSA-89 form?
An UW Exception ticket
True or False: Any amount on a Cashier Check, the issuing bank must be contacted to verify its validity
Truth
What are the 3 insurance verification documents we accept?
Current and valid insurance ID card, Insurance policy declaration page or binder
True or False: Some states will require address verification documents that are not outlined in the Address Verification HALO article.
True- If a customer needs address verification for registration then the SxS HALO article will list the required documents needs to complete address verification for registration.
Your customer is registering in North Carolina, but their DL is from Georgia. What state by state do you follow to validate the DL?
Georgia. Always the issuing state of the DL.
In order to move forward with a bankruptcy what do we need to hear when we call the bankruptcy hotline?
We need to hear the case has been dismissed or discharged
True or False: We are able to process ACH funds for Chime Bank customers?
False: Chime Bank is not ACH compatible and customer's will need to provide a Cashier's Check for Funds Verification
How long past delivery does proof of insurance need to be valid for if the SxS guide does not specify?
45 days past delivery
Carma populates "address verification" and "address verification?" You determine that it is not needed for Registration or Underwriting, how do you proceed?
Trust the System - Carma is automatically requiring AV per the first work item, we must ask the customer for AV.
Harrison auto approved a NY DL and you are first touch on the account. Do you need to open the DL for any reason?
Yes - to check that we have the full name on the account
What are some reasons "Multiple SSN" flag will populate?
Your customer uploaded paystubs for their Funds verification - how do you validate?
Pay stubs are not an option for funds verification - you will call the customer for one of our 3 ways we do validate.
(Double points for naming and all 3)
True or False: Carvana Financing customer's can have state minimum insurance?
False: Comprehensive and collision is required for Carvana financing.
True or False: We are able to accept Bank statements for Address Verification?
False- Bank statements are unacceptable (unless they are directly from the Plaid Transaction Report)
In which situation are we able to accept a DL that expires within the 35 day timeframe?
If they are in a self-registration state
What's the step by step process for clearing FACTA with phone number that matches the Carvana account?
Can we accept the cashier's check if the remitter is not the customer?
Yes- Cashier's checks need to be remitted by the customer or authorized user. If it is remitted by the authorized user, we will require the front and back images of their driver's license or ID in order to accept
Your customers Insurance for the vehicle they're purchasing is only valid for 20 days, are there any scenarios/options this would be acceptable?
-The state accepts short term temporary insurance
-It's the same policy number as their other insurance that's valid for the full 45 days
-They upload a second document stating the renewal of the policy to continue past the 20 days
What information are we looking for when reviewing customer's address verification document?
The customer’s complete physical, residential street address with the city, state, and zip code as it appears on the consumer’s Admin panel page.