Payment Adjustments
This term is used to discribe a case that involves customer funds posting incorrectly.
What is Misapplied Funds?
What is the average number of NODs sent a day?
60
What are the 2 types of refund processes.
What is PAWS (Manual Refund), and Auto Refund?
This team processes charge off files after the write-down process.
Who is CAM?
This System can be used for multiple kinds of adjustments.
What is PAWS?
When a customers payment is posted per _______ (Term), This implies the funds were applied to the most past due, most important charges first. example, Contract payment.
What is Hierarchy?
Manager approval and cross default language is required to send a default letter on this type of an account.
What is a Current Account?
Dual Approval is required at a minimum of this dollar amount to complete a refund.
What is $25,000?
On an active acount you would request a buyout using this system.
What is Accutrac?
Multiple request types can be done through this System.
What is ORS?
This type of Adjustment is used when funds come from the customer but were intended for the Dealers. U.S. Bank sends the funds along to the Dealer.
What is a Pass Through
A Personal Guarantor who resides in this state has a 15 day cure + 5 day mail time.
What is Illinois?
On average, the operations support team completes this many refunds a day?
Average 150 refunds a day.
The loss mitigation team mainly uses this system of record.
What is RSA?
What address does the customers invoice get sent to.
What is Accounts Receivable address?
On average, the operations support team completes this many Payment Adjustments a day?
Average of 45 payment adjustments a day.
This letter template is used when collections is requesting to break Private Label.
What is an OOPL NOD (Out of Private Label Notice of Default)?
What two steps are required for every Auto Refund submission?
Check copy lookup, Address Verification.
An account may be flagged for any of these filings: Ch 7, 11, 12, 13, Notice of Assignment, Benefit of the Creditors.
What is Bankruptcy?
These 2 systems can access a range of customers deal information.
What is CDA and InfoLease?
A Good Payment Adjustment Note includes the following, Contract number, Check details (amount, date, and number) Where Funds are located, and Where funds are being placed and finally ______?
"Why" the adjustment is being made.
Manager approval is required to send a default letter if customer exposure is at a minimum of this amount.
What is $150,000
Name 2 Dealers that require special instruction to be followed to complete a refund.
Who is UBEO, BMO, Marlin, Konica, Xerox and DLL?
SCRA is an acronym for this federal law.
What is Servicemembers Civil Relief Act?
The Operations Support Team consists of this many specialists.
What is 11?