Scenarios
A customer calls into the Virtual Center regarding an overdraft that was returned because their account did not have compensating funds.
Overdraft protection
This type of loan does not require any collateral.
Unsecured Loan
This type of evaluation is typically used for a home valued under $500,000.
AVM
A Core Bank customer comes into one of our locations looking for a debt consolidation loan. They are currently home owners.
HELOC or Home Equity Loan
This product is an open line of credit secured by a primary home.
Home Equity Line of Credit (HELOC)
This type of evaluation is typically used for a home valued over $500,000.
Full Appraisal
Core Trainer with ABC Inc. would like a line of credit. When offered our overdraft line of credit they reply with a request of at least $10,000.
RapidTrac Line of Credit
This product uses NADA as an evaluation of the collateral.
Auto Loan
True or False.
The max term on a Bridge Loan is 12 months.
True
The HVAC system of your customer's home is out and winter is quickly approaching. They mention that they don't have time to wait for a HELOC but do have a vehicle they own.
Vehicle loan or unsecured loan
A customer needs $500 ASAP.
Overdraft Line of Credit (ODP)
A customer can get a .25% rate discount for doing this.
Have auto-pay set up out of a Qualifying Core Bank DDA or MM.
While processing a deposit you overhear your customer talking about some home repairs they need to complete in the next few months.
HELOC or Home Equity Loan
This loan uses the money in an eligible account as collateral.
CD/Savings Loan
A customer does not agree with the (AVM) evaluation. What else can the customer request?
Full Appraisal
Your customer is excited about their spouse finally starting to look for a new home.
Send a referral to Mortgage Department
This loans payment structure has the first 61 months as interest only payments and the remaining 59 months are principal + interest.
HELOC
True or False.
TRID is required for a Home Equity Line of Credit.
False
You are opening a CD for a new college student who is complaining about their credit score being low. They are trying to buy a car but he doesn't have enough credit yet.
CD/Savings loan
A customer that recently declared bankruptcy wants to apply for a loan. Which loan can they apply for?
A customer bought a new home within the last 12 months with Core Bank Mortgage and they are now looking to get a HELOC. Do they qualify for any discounts?
Yes. There is a flat closing cost fee of $275.
Besides a rate discount, what else do we ask with every loan application?
Hint: What is the banks focus this year?
Deposits! Deposits! Deposits!