Bonus Questions
What sections on a 4506-t are required elements?
1a, 1b, 3, Signature of Taxpayers box, Signature and Date, Phone number
Which section in VQ can you see if the credit union registration has been completed?
Personal Info
What is DP?
A personal loan with direct pay requires that at least 50% of the loan proceeds to be allocated to eligible debt.
Which notation template is correct for Personal Loans / Upgrade Cards?
AVC - Personal Loan & Upgrade Card
Question 1 - [Amount] [Account Type] [Date] [Y/N]
Question 2 - [Y/N or N/A] If YES >>> [Name] [Relation]
Question 3 - [Y/N]
Bonus (50 points): What notation is used for Checking/Savings?
What does CGA and YGA stand for?
Current Gross Amount
Yearly Gross Amount
Bonus question (50 points): What is YGA also known as?
What is MIDA Advanced?
Front + Back of ID, 3 selfies (front, left, right profiles)
What 2 sections in VQ can I see an applicant's adverse action?
Offers and Agreements
What section in VQ can I see if DP has been completed?
Offer
Bonus question: How do I know it's been completed?
When should Genesys MFA be completed?
Genesys MFA should only be utilized when a procedure explicitly calls for it.
What documents can we accept if a person receives social security benefits?
Most recent award letter
Benefit statement
Previous year 1099-SSA
Bank statement within 40 days with deposit present within 60 days*
BVC DD*
Bank Authentication Vendor data showing deposits*
Deposits must have applicant-identifying information (e.g. name or SSN)
Deposit amounts can not fluctuate
Bonus question (25 points): how many documents do we need off of this list for proof of income?
If I receive a bank statement and the balance is negative, what is my next step?
Add the Verify Income task
What section in VQ can I see if the email address has been verified?
Personal Info
Can an applicant use their spouse's card/loan info for DP?
No
What are the 3 main sources I can use to find a credible number for an AVC?
Credit Report
White Pages
LxNx Phone Finder
If CGA and YGA do not qualify, are we able to request 2 years of W-2s?
Yes, but a supervisor has to leave a note first.
If you identify an address on an app as PO Box and the Verify Residence task is not present, what is your first step?
Contact the applicant to confirm their physical home address.
What 3 sections in VQ can I see the applicant's bank info?
Bank Info, Verify Bank account task, and Personal Info
If an applicant states they are having trouble adding their credit cards for DP, what is the first thing I do?
Complete standard troubleshooting:
Check that the customer entered the basic information correctly (e.g. billing address, 16 digits for the card number, etc.)
If the Consumer Statement Task is present, and the customer cannot call in from the credible number, what is my next step?
Decline the application. The customer can reapply once they update their phone number with the credit bureau.
If an applicant sends in an Intuit Pay Stub with no logo, what do we need to do?
Verify deposits using one of the following:
BVC DD
Bank Authentication Vendor
Make the following standardized notation:
Intuit pay stub logo missing
Can we always use a starter check to clear the bank account if the applicant doesn’t have a voided check?
No
What section in VQ can I see an applicant's credit report?
Credit Details
Bonus (100 points): Who can show me how to read a trade?
If a customer is unwilling/unable to meet the direct pay requirement, even after troubleshooting any issues, what is our next step?
Decline the application.
Bonus question: What may we suggest to the customer if they cannot meet the requirement AND DP is a discount?
If an AVC is needed to clear the AVC task and an applicant does not have access to a credible number, what is my next step?
Confirm the app is not blocklisted and request Documentation
Name 5 categories that cannot be included in the YTD Amount.
Incentive/Bonus
Payout
Check Mark
Other/Misc (if taxable)
Birthday Pay
Spiff
Stipend
Allowances
Reimbursements
Meals
Stock/RSU (Restricted Stock Unit)
Fringe Benefit
Per Diem
Group Term Life (GTL)