True or False
We should collect VOI on every Self-Employed borrower.
What is False
100
#of inquires
#of new loans within the last 18 months
#of total loans with balances
What is this?
What is BK indicator #1/ Escalating Debt
100
Age of the vehicle combined with the length of the term should not exceed this.
What is
A+, A & B 12
C, D & E 9
100
This is determined on a case-by-case basis after an evaluation of the risk and collateral
What is LTV
100
A+ & A 3 times monthly gross income
B & C 2 times monthly gross income
D & E 1 times monthly gross income
What is unsecured guidelines
200
We start with this loan type to handle members with real risk factors
What is Secured Loans
200
Member is not upside down, collateral is in good shape, term is appropriate, primary transportation and the member has a relationship with NCU are loans that...
What is survive BK
200
Appropriate co-signers when lending to youngsters.
What is parents
200
This tool is used to provide a "yes" even if we have to say no for right now.
What is denial action plan
200
True or False
Any credit score below 640 requires VOI
What is False
300
A flaw of this calculation because we don't know all of the members monthly obligations.
What is DTI
300
Maxed out revolving lines of credit
What is BK #3
300
You should never deny a member based on this, but you should be using it to give ever application "context."
What is age
300
A new loan+new member+bad credit+residence instability+new/weak job =
What is charge off
300
What you need to apply when evaluating variable pay income
What is discount
400
To evaluate risk and make good loans!
What is the #1 job of a lender
400
Number one tool in an underwriters toolbox
What is counter offer
400
C,D & E member generally focus on ________
What is payment
400
Total of all monthly car payments should be less than or equal to 10% of gross monthly income
What is secured guideline #2
400
Maximum amount of C, D, or E-paper applicants gross annual income that should be used for consumer secured loans.
What is 50%
500
This spells commitment to the loan!
What is cash down
500
If UDR < 20%: generally speaking, ok
If UDR between 20%-30%: slow down, be careful
If UDR > 30%: danger, danger, Will Robinson!!
What is this?
What is BK #2/Excessive Unsecured Debt
500
Negative credit fades over time, but has its lowest impact after this many years.
What is 4 years
500
When a member earns a very high credit score with little or no credit to base the score on
What is fragile credit
500
Keith's favorite thing that should happen in every loan interaction...even A-paper jerks.