Consumer Lending 101
What's the first question to ask when someone requests a loan?
What is the loan's purpose
Name two of the five factors that borrowers must consider when choosing a lender.
What is Interest Rate, Term, Ancillary Products, Finance Charge, and Customer Service
If a banker needs to login to Origenate, what two letters do we include at the front of your Portal login?
What is UW
What is the fee we charge a customer for GAP Plus?
What is $415
All consumer loan requests should be decisioned and finalized within how many days?
What is 30
A ________ loan has one or more pieces of collateral.
What is Secured
What is an important step we MUST complete before entering an application in Origenate?
What is add/update the customer in Bankway?
What acronym is used to help show someone's capacity to repay a loan?
What is DTI (Debt to Income)
What Vehicles are not covered under the GAP Plus Policy?
What are Commercial Vehicles
How long can we extend the first payment date on new money for auto loans?
What is 90 days
When purchase price and NADA market value differ, we use which value to calculate LTV?
What is the lesser of the two
GABB is a very important part of the Interview Process, what does GABB stand for?
What is Guidelines Agreement Before Beginning
What document must be created for every in-person loan request?
What is an application
To qualify for Credit Life the borrower must be at least 18 years but not more than ________years of age by the Loans effective date?
What is age 70
In what document can we find consumer loan terms and conditions on the InfoNet in an easy to read chart?
What is the Rate Sheet
Which three of the five "C"s does Consumer Underwriting focus on when considering a loan request?
Capacity, Collateral, and Character
You should ask the customer three different types of questions: Rapport, Detailed and what other type?
What is Product
Once a loan is denied, bankers must scan into Vision Content an application, decision details and what other document?
What is a Credit Report
A borrower must be disabled for how long before Disability coverage will being?
What is 2 weeks
What additional document is required for approved Business Rewards Credit Cards?
What is Beneficial Ownership Designation Form
The amount a borrower has to live on each month is called what?
Residual or Disposable Income
What can we complete for our customers if they want to shop for a car when the bank isn't open?
What is Get them a Pre-Approval letter.
In which quadrant of the Origenate Underwriting Overview would you change the collateral value?
What is the Application Manager.
When can a borrower cancel their Credit Life & Disability policy?
What is at any time.
What is the annual fee for a ODP-Credit Line?
What is $25