1
What is the subordination fee for an approved subordination?
What is required to read to the borrower when accepting a payment over the phone?
POTP Script
What are the two LAA options for a HELOC?
Repayment Plan & Forbearance
When lien position does Figure require hazard insurance on a Figure Home Equity Loan?
1st
What email will we request all payoff requests to be sent to?
payoffrequests@figure.com
A HELOC account has been transferred:
Borrower request: "I want to request a new payoff statement."
Please contact your new servicer at ....
Personal loans and HELOCS can be reamortized if the borrower makes their monthly payment plus 10% of their total principal balance due. T/F
False. Personal loans can not be reamortized.
What are the 3 LAA options for a Personal Loan?
Repayment Plan, Forbearance and Skip a Pay
A borrower has to sign a new AutoPay agreement if they toggle the feature back on from their dashboard. T/F
False. NO AP agreement is required if changes are made from their dashboard
What is the MMR? Please say it.
"This is an attempt to collect a debt and any information obtained will be used for that purpose."
What do personal loans use as collateral?
Not required
If you're in the nurture priority, and you are performing callbacks, what should your status in twilio be set as?
Focused Outreach - Nurture
Bank statements are the preferred documentation to clear a BAFR task, however if that is not available, what are the 3 other acceptable documents?
If a borrower requests an LAA, what crucial information should you make them aware of?
additional documentation may be required and they must send it in with the LAA
When adjusting the autopay amount, you may adjust it to draft LESS than the minimum payment. T/F
False. For autopay it must be equal to or greater than the monthly payment
Borrower states: "I have had to talk to 3 people about this issue, and none of you have the answer. This company is stupid"
Escalated or non escalated?
Non escalated- Personal Opinion
In order for a CC agent to confirm they should transfer the call to Collections, what two items should they confirm?
If the borrower has been sent an LAA
Will the borrower be making a payment over the phone
What should you ask a borrower if they are paying down their loan to $0 (zero) ?
Intent to close or keep open
What is the maximum loan to value for both crypto backed products?
55%
65%
75%
55%
Auto CV Pass
Do we require additional information ?
Yes. Full name
Will the auto-dialer call a past due borrower who has filed for bankruptcy?
NO they are removed from calls.
What documents are required for a subordination request?
1003
BA
LE/CD
Recent mortage statement
What 5 things would deem an insurance document insufficient?
Covered address does not match property address
Dwelling converge is inadequate
Policy is expired
At least one form of insurance agent contact information is not visible
Policy number is not visible
If a Celsius Refinance borrower asked you what stabilization is, what would you tell them?
If opted into stabilization, the loan will be automatically stabilized if the LTV liquidation trigger of 85% is hit. This means we liquidate the crypto in full but hold the cash as collateral and keep the loan open rather than crediting the cash toward the loan amount owed and closing the loan as we would do when the Liquidation Trigger is hit. We would keep the loan open to allow the borrower to convert back into crypto once LTV is cured to at or below 55%.
Borrower must continue to pay interest on the outstanding loan balance to be eligible for Stabilization. Deferral of interest is not available on actively stabilized loans and will be canceled when in stabilized state.
If a crypto borrower states they have not received their funds, what is the process you should follow?
If a **borrower calls in and claims they have not received their funds after the standard processing time, send a message (slack) to the fulfillment team to review.
- Customer Care SOA follow-up via slack in the serv-customercare-to-ff
- Template: Borrower (loan #) stating funds have not been disbursed. Please review
**If confirmed, you may let the borrower know to send in a photo of a voided check to remediate the error.**
**Fulfillment will receive PDF via email queue and review.**