Unsecure Loans
Status of a person that's not eligible for an unsecure loan due to work on his own.
What is Self-employed?
The collateral we use to secure the loan...
What is a Vehicle?
The section will show offers available to the customer.
What are Eligible Structure Options?
Term used to state that we exhausted all options to fulfill the loan.
What is Exhausted?
Some Red flags to look for in the Proof of Payment...
What is NSF, Gambling Activity, New Loans, Negative Balance.
After reviewing these 2, it would determine the loan offer and rates...
What is Income and Credit History?
The Max Millage allowed for a vehicle...
What is 250k miles?
Indicates if the applicant already has a loan with Reprise and if so then they are borrowing more money.
What is Renewal Application?
This is a term used revolving around credit reports, could impact someone’s credit score.
What is Hard Pull?
Unique number that identifies the car, made by manufacturer.
What is the VIN?
The number of days the ID should not be expired by, before continuing.
180 Days.
A legal document establishing proof of ownership of a vehicle.
What is a Title?
What is Loan Structure?
Percentage Rate in the Year that includes not only the interest expense on the loan but also all fees and other costs.
What is APR?
We need this in order to continue on the call with a Third Party...
What is Authorization from the Applicant.
Money after general expenses incurred to show the loan is affordable for repayment.
Ability to Pay (ATP)
An abbreviation used to decipher what the car is worth compared to the loan amount.
What is LTV?
This section will generate exact rates, payments, and dates for the contract.
What is Carlton Calcs?
The last payment date if the customer follows the Loan payment based on the contract.
What is Maturity Date?
Examples that would need Fraud Review...
What is Falsified Pay Stub, Falsified Bank Statement, Falsified ID document, Person on the phone suspicious.
Kind of fees that may be included on the loan...
Origination Fees, Document Preparation Fees and Lien Perfection Fees.
Documents to complete a Vehicle Book Out...
What is an Insurance Car, Odometer, Front car, Rear Car, Vehicle Registration
These are automated Credit Bureau information checks to find red flags on customers’ credit report.
What is Applicant Bureau Warnings?
The amount of interest accrued daily.
What is Per Diem?
Tab used to calculate the applicant's income manually...
What is Bank Statement Calculator?