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What Slack channel would you post in to have someone from People Ops reach out to you?
#people-services
Collections agents can turn on autopay at the verbal request of the primary borrower. T/F
False! They must sign an autopay agreement and FF will complete that task
What is the maximum amount of time we want to leave a caller on hold?
5 minutes
What is the disclosure we provide to a primary borrower or authorized person, when the account is past due.
Mini Miranda Right
MMR
"This is an attempt to collect a debt and any information obtained will be used for that purpose."
A primary borrower can change their payment due date via their dashboard. T/F
F. They must call Figure to change their due date or agree to the stipulations via email.
What are the minumum additional draw amounts?
$500 and $4,000
Agents can increase autopay and turn autopay OFF without an AP agreement.
T/F
True. Agents can turn off autopay or change the autopay amount.
Interest is charged ___
Daily
How many payments can a borrower schedule per week?
Figure will physically mail a borrower their monthly statement.
No, email only
What are the 2 loan assistance options for the HELOC product?
Forbearance
Repayment Assistance
Which credit score and credit score model do we use to evaluate credit worthiness at Figure?
FICO 9, Experian
How many pieces of information should you verify for manual CV?
3 pieces
Can Personal Loans take out additional draws?
No, unsecured and closed end loan
If the borrower is making a regular monthly payment, how many days will it take for the payment to post?
3-5 business days
What's the MMR (Mini-Miranda Right)?
"This is an attempt to collect a debt and any information obtained will be used for that purpose"
A third party authorization (TPA) form will always expire after 1 year, no matter the date submitted. T/F
False. It will expire on the date the borrower would like or if there is no date, then we would accept it good 1 year from the signature date.
The primary borrower confirms verbally that they give permission to speak with someone else. This is only in effect for how many hours following the call?
24 hours
What 2 items can the additional signers access without a Third Party Authorization on file?
Make a pyament and request a payoff quote
A borrower can schedule a future payment via their dashboard. T/F
False. Scheduled payments can only be done via CSP
If applicable, when do we charge a late fee?
On the 16th day past due.
How are payments applied for a HELOC?
Interest
Outstanding Fees
Principal
What are Figure's HELOC loan terms?
10,15, 20 and 30 years
How would you reply to the borrower?
I am calling to make a prinicipal only payment today. Can you help me?
The Figure HELOC does not offer principal-only payments. Our payments will allocate to interest, any additional charges such as fees, and then to the principal. You currently have $x.xx interest accrued and $x.xx fees so any portion greater than this amount will go toward the principal. Additionally, you can increase your payment amount to pay down extra principal when making your monthly payment.
If the borrower provides the incorrect DOB, what should you do next?
Stop, Read Enhanced Verification Script, Create Escalation Review Task