Mortgage
TRUE OR FALSE - A customer is allowed to pay 15% of their initial mortgage loan amount every 12 months.
FALSE - they are not allowed to pay it every 12 months. It is every calendar year.
TRUE or FALSE - The first use of the word mortgage was to describe marriage.
TRUE
TRUE or FALSE - A customer can increase the limit of their existing FlexLine?
FALSE - They have to refinance.
What does "Hakuna Matata" mean?
No worries
In which screen do we process a mortgage renewal?
In which screen can we see the original loan amount?
MTG MTGE 1,1
What is the only food on Earth that can never go bad?
Honey
What is the screen that requires you to take a screenshot and send it to your coach during a term portion renewal?
CCS TERM
Which travels faster: sound or light?
TRUE or FALSE - The prepayment charge of a VIRM mortgage that is not in the regular renewal cycle is 3 months of interest.
TRUE
Define rapid payments.
It permits the equivalent of 13 monthly payments per year where the regular payment plans allow only the equivalent of 12 regular payments per year.
What is the only mammal that can truly fly?
TRUE or FALSE - For a FlexLine term portion, if the term is less than the amortization, the outstanding balance will revert to the revolving portion at the maturity date.
FALSE - If the term is less than the amortization, the outstanding balance must be renewed by the maturity date.
What is the chemical symbol for gold?
Au
TRUE or FALSE - Regular Renewal of a term portion takes effect immediately.
FALSE - Regular renewal of a term portion takes effect on renewal date
If the regular monthly payment falls on the first of the next month, when will the new payment after renewal take effect?
At renewal, same as previous payment amount (on 1st of the month).
Next month, new payment takes effect.
What company was originally called "Cadabra"?
Amazon
YES or NO - Can a customer cancel an early renewal on a term portion?
No, since they are completed in real time.
What is a baby kangaroo called?
a Joey
What can be changed for amortization during renewal?
Amortization can be increased to the remaining contractual amortization.
Describe the details portability plus policy ?
Shift the rate, rate discount and term of a discharged fixed rate Mortgage to a new Mortgage. Eligibility - Mortgage to mortgage.
In what year did the Titanic sink? (+/- 5 years)
1912
Describe FlexTerm Option policy?
Replacing a discharged fixed rate Mortgage/FlexLine Term portion(s) with a consolidated new Fixed Rate FlexLine Term portion. Eligibility - Mortgage/Term Portion to Term Portion.
Which metal is liquid at room temperature?
Mercury
If you renew a client's mortgage following a TDMD lead, what steps do you need to take on SalesForce?
1. Log the call on TDMD.
2. Close the TDMD lead.
3. Global search to find maturity lead.
4. Log call on maturity lead.
5. Convert lead and add notes on conversation (rates)
6. Close maturity lead.