Qualifications
The finance fee for every $100 borrowed.
What is $30?
"This payment chart is merely a reflection of remaining on the minimum payment option for the length of the loan; if you pay more than the minimum, the due dates will remain the same but the total number of payments will decrease."
What is payment Chart Objection?
This is required for every outbound and inbound call to ensure we're speaking with the correct customer.
What is customer verification?
Once the customer's application has been graded and fully approved, the UW will update the customer's account to this status.
What is Pending - Qualified?
Their purpose is to help support customers with any questions about their loans via phone, text, email and chat!
Who are Customer Service?
True or False?
John said he lost his job today, but meets the minimum qualification and is in need of a loan, so we can approve him today only.
What is false?
"That's amazing! I just advise to please proceed with caution & make sure to read the fine print. Many of our competitors have hidden fees, & charge an origination/annual fee which is due when you take out the loan; with us, we have no hidden fees, and offer our customers flexible payment options to help pay your loan as soon as possible"
What is loan with another company?
This date should match the date set in the UW notes for loan offer amount.
What is the due date?
If you call the work number and the operator informs you that the person you requested to speak with no longer works there, you will mark this symbol by the work phone number.
What is Do Not Call?
These agents assist customer's in paying off past due balances with flexible payment arrangements.
Who are Asset Recovery Agents?
What is $1600?
"I understand your concern; our rates are based on this being an income-based loan with a first-time customer, and are competitive with industry standards. Once you pay this loan off, with positive payment history we offer reduced loan amounts and lower fees!"
What is finance fee too high?
Before the loan documents can be sent, the customer needs to verbally verify to us this information.
What is their routing and account number?
If you need to deny an application (that has not been graded by UW yet) but have not yet been able to make contact with the applicant, you will send the following.
What is clarification text and email?
These agents rely exclusively on their own analytical skills to assess a returning customer's bank accounts and payment history to determine loan amounts.
Who are Loyalty and Retention Agents?
Maximum number of days you can extend the customer's first due date.
What is 24 days?
"I understand you're looking for a higher amount; this is an introductory loan offer meant to foster internal credit. Since we are an income-based lender, we do not pull a traditional hard credit check or require collateral. The great thing is, with perfect payment history, you will be eligible to relend for higher loan amounts with reduced rates!"
What is amount too low?
These numbers should not match the employer's phone number.
What are reference numbers?
If your customer has been approved for a loan based on a Bad ABA exception, you have to ask your manager to lift the system Bad ABA restriction in order to update this before sending loan documents.
What is Banking information (Routing & Account Numbers)?
Their primary objective is to assess intent and ability of customers to repay their loan.
Who are the Underwriters?
The minimum amount required to approve a bi-weekly customer with only one DD showing in their account.
What is $750?
"I understand your concern; we're an income-based lender, so we need to verify your income to generate a loan amount. We partnered with Decision Logic to ensure security of customer information, and as such this allows us to approve you for the highest amount possible."
What is doesn't want to complete bank verification?
These are the acceptable points of verification for identity, and the number required to complete verification.
What are the customer's full name, birthdate, the last four digits of their Social Security Number or home address?
What are two?
If your customer does not qualify for a loan but you see that there's other viable income from their partner being deposited into their account, you will send this information over to UW for a possible exception.
What is Spousal Exception?
This term refers to the systematic use of data and statistical methods to uncover trends and make informed decisions.
What is Analytics?