Life of a Docket
This is the person(s) you ping if the docket is stuck in the Verification Stage
Who is your Sales Manager or Team Lead
The 3 types of appraisals
What are AVM/hybrid (or Homeowner led), Desktop and Standard (full)
These are the 2 calculation we use to determine repayment
What is HEI % and Homeowner Protection Cap
This is submitted when a homeowner shows dissatisfaction or concern about Point products or services
What is a tier 1 complaint
A note should be posted in Underwrite for these circumstances
What is pricing changes, clearing fraud alerts, important info for the underwriter or CYA
Homeowner disagrees with the value or feels information was left off the appraisal report
What is a recon
This is the adjustment made to the appraised value to determine where Point will begin sharing in appreciation or deprecation
What is 27% Risk Adjustment
This is filed when there are any legal and regulatory complaints, in addition to customer claims of possible fraud, identify theft, breach of information, financial loss, discrimination, or criminal activity.
What is a Tier 2 complaint
This title grade can go through the process out of order
What is TG1
This is how we explain the value of the home to a homeowner prior to an appraisal being completed
What is the ESTIMATED home value
The cost estimator is used to help the homeowner visualize and is used for what
What is an explanation tool, not a prediction tool
Homeowner states "You're too expensive"
What is "Ask homeowner what they are comparing us to"
At this stage a docket slack channel is created
What is Application submitted
This is the maximum percentage of the homes value Point will offer as an HIE
What is 20% thickness
Point does not have this if the Homeowner decides to exit early
What is prepayment penalty
Homeowner does not speak or read english
What is rejected based on language barrier
What is Underwriting
When a homeowner inflate3s their home value (self declared value) this is most likely to happen
What is lower appraisal and possible rejection
If a homeowner passes away we have this benefit
What is "fully assumable"
Applicant claim identity theft and did not submit an application to Point
What is file a Tier 2 complaint and tag compliance in the docket slack channel