Overdraft
To continue to have access to overdraft protection, the customer must bring the account back to a zero/positive balance every __ days?
30 days
TRUE or FALSE: FE Advisors are permitted to perform Right of Offsets (ROO's) on past due credit cards/lines of credit.
FALSE: Advisors cannot manually ROO accounts
TRUE or FALSE: If a SPL is past due, regular payments will still automatically be debited from an OFI PAD
TRUE: The OFI PAD will still be active
PEGA will need to be sent for the past due amount only
TRUE or FALSE: Customers can make a bill payment online to catch up on a past due Mortgage.
FALSE: Customer cannot make an online bill payment for a Mortgage (can only do so for SPL's)
Where can you find resources related to products, policies & procedures?
The CURE
TRUE or FALSE: The customer's Credit Bureau is impacted if they are 40 DPD on an overdraft.
FALSE: Past due overdrafts do NOT impact the customer's credit
*Credit Bureau is only impacted IF it is converted to a Non-Accrual Chargeback Loan
If a credit card or line of credit is closed/revoked, the Block Code would show a _.
a. C
b. V
c. X
d. 1
b. V
What amount would an advisor collect on if the status of the SPL is BD? What system must be used?
Payout Amount in Intralink/RLP
TRUE or FALSE: An automatic hold is placed on an OFI PAD if a mortgage becomes past due.
TRUE
The hold must be removed if the customer wants regular payments to be automatically debited.
Which of the following products can be secured under STEP (Scotia Total Equity Plan)?
1. Overdraft
2. Credit Card/Line of Credit
3. SPL / Loan
4. Mortgage
ALL 4 products can be secured under STEP
An Overdraft Account is converted to a NA Chargeback Loan if the account reaches ___ DPD and a ____ letter is expired.
120 DPD; RECL
A line of credit will become Non-Accrual at how many days past due?
120 DPD
A SPL will be assigned for repossession after it reaches over __ DPD and a ___ Letter is expired.
90 days; CSD1
Where do you go to confirm the FULL PAD account information (including bank/transit #) for ALL PAD's on file for a mortgage?
Intralink ---> Other Loan Servicing --> Add Account Information
TRUE or FALSE: Regular payments are still automatically debited from the PAD Account regardless of status (Overdue, Non-Accrual, Bad Debt)
FALSE: The PAD is suppressed for NA/BD statuses
For a Small Business Overdraft (SBOP), the balance must be brought to a positive/zero balance every __ days and the balance must remain at positive/zero for __ hours.
30 days; 24 hours
If the next course of action is a 3rd Party Collection Agency, what letter should be sent and at how many DPD?
OVD4 at 135 DPD+
Which system and section should be accessed to check if there are any Holds on a PAD Account?
Intralink --> Payment Processing --> Automatic Payments
OR
CACS GUI --> Customer Data
What are the only 3 methods of payment for past due Mortgages?
1. Branch
2. PEGA (Payment Request)
3. BNS PAD (Automatic once funds are available)
What 2 letters cannot be issued via CACS and must be requested manually?
A SBOP Account is closed and sent to a Collection agency if the account is more than ___ DPD and a ____ letter is expired.
135+ DPD; OVD4
The FULL Balance is due on a VISA when it charges off at ___ DPD. The Status on a Charged Off account on CACS will show a _.
210 DPD; 1/2
List 3 indicators from the CACS GUI to identify a Non-Accrual Overdraft Chargeback loan.
1. Interest rate is always 21%
2. Status is either nonaccrual (NA) or bad debt (BD), never overdue (OD), even if less than 90 DPD
3. The term is 18 months (in Acc Details 2)
4. Security Code is 010 indicating it’s a personal loan (in Security tab).
To confirm the date of a missing/reversed payment, which system and section would you access?
Intralink/TLS --> Detailed Account View --> Activity
If a customer is 15 days late on payment for their account, how many days past due would it show on CACS if the account is a:
1. Overdraft
2. Credit Card/LOC
3. SPL / Loan
4. Mortgage
1. 15 DPD
2. 45 DPD
3. 15 DPD
4. 15 DPD