Production
How much does a Teammember or Lead earn once they hit target?
$50 for Standard + $15 every unit after
Another $50 when Exceptional
What is Regional Finance
Chicago - TM - $150, Lead $250, GM $300
Indiana - TM - $100 , Lead $200, GM $250
What are the key factors of Profit?
Increase Revenue and Reduce Charge Off
$100
Settlement Rules
Lump Sum or Term up to 6 months
No settlements offered on Current, Mispay, or Pot
30 Day- 75% 1 lump sum, 85% over 2-6month term
60 Day+ - 50% 1 lump sum, 75% over 2-6 month term
How Much does each Team member earn when they book a secured unit
$75 all Auto including first must hit Standard target
What does each TM make in the office when the branch achieves safe zone?
Indiana - TM - $200, Lead $300, GM $350
What amount does the each Team Lead earn for Exceeding Net Core Growth?
$200 for Standard
$400 for Exceptional
Safe Zone Target, 3 TM's report to you make $500 each, 1 BM reports to you makes $800 and you booked 0 Big Auto
Illinois - $400 + $690 (overrides) = $1090
Indian - $350 + $690 (overrides) = $1040
What are the qualifications of a deferral?
Account must be a pot or higher status to start the month
Must have 1 payment in the last two calendar months (no back to back deferrals)
Must sign deferral form and upload to NLS to apply deferment
What amount do Team Members earn when the hit Check conversion target?
$50
What happens to DQ bonus when you exceed max charge off over the 3 months?
50% payout for Pot Target
0% Payout for Safe Zone Target
What is the override of each TM reporting to a Teamlead?
under 3 TM = 35%
3 or over = 25%
You have 3 TM's that report to you that make $500 , BM that reports to you makes $800 and achieve Auto for max override?
Illinois - $400 + $1380 (overrides) = $1780
Indiana - $350 + $1380 (overrides) = $1730
What are the qualifications for a Delinquent Renewal? (non-BA)
Mispay or higher status
Minimum of 3 payments, 1 within the last 2 calendar months
Current Payoff must not be more than $500 above original loan proceeds - but no increase in rate or payment to customer.
Max term extension - 6 months (exception)
Offered 1x every 6 months - max 3 times in the life of the loan.
How much does each Team Lead Earn when they hit target?
$75 + 20 every unit above Standard Target
Another $50 for exception totaling $125 + $20 every unit over standard target
Chicago - TM - $2.00, Lead $3.00 and GM - $3.50
Indiana - TM - $2.00. Lead $3.00, and GM - $3.50
What is DQ payout for Pot and Safe Zone for Team Leads (not including overrides)?
$200 for Pot
$250 plus $2 per bp below
if c/o under 12% otherwise 50% of pot payout and no safe zone
You have 3 TM's that report to you make $ 500, 1 BM that reports to you that makes $800, and you achieve auto override, Safe Zone, Standard Core Loan Growth, and Standard Profit?
Illinois - $ 400 + $1380 (overrides) + $100 + $250 = $2130
Indiana - $350 + $1380 (overrides) + $100 + $250 = $2080
Procedure for a Fail RR Check Conversion
Must be Current, Mispay or Pot
Not Currently past due on mortgage or auto.
Customer over 270+
3 full payments with 1 in the last 2 calendar months
Positive Free Income including new loan payment w/ insurance(if applicable)
Cash out limited to $50
Chicago - pick up a car worth $1500!!!
What amount do Team Leads earn when renewals and conversion target is met?
$150 for Standard
$250 for Exceptional
What are examples of loss mitigation tools?
Delinquent Renewal, Deferral, and settlements
How do we increase Core Growth?
- Secure loans for bigger loan potential
-Convert Checks - all new money
- Digital Leads - all new money -
- Cash out money to PB customers - renew instead of collect payments.
- Save Payoffs!!!!
- Reduce Core Charge off - make $mart Loans
You have 3 TM's that report to you make $700, 1 BM that reports to you that makes $1500, and you achieve auto override, Safe Zone, Exceptional Core Loan Growth, and Exceptional Profit?
Illinois $ 400 + $2160 overrides + $250 + $700 = $3510
Indiana - $350 + $2160 overrides + $250 +$700 = $3460
What are the qualifications for a BA or LL secured DQ renewal?
DTI over 70%
LTV greater than 100%
Up to 1k over loan proceeds
Max Rate reduction - 5%
No Term extension from original proceeds
Supervisior/AVP/VP must notate prior to sending to central for approval