Basic Loan Knowledge
Loan Associates have a 6 or 7 digit identification code. What is this called?
NMLS #
This screen is where an associate can see all the debts that report on the credit report.
Liabilities Screen
What is the current annual fee for the HELOC?
$95
Currently, TF will offer a lender paid PMI product at what % down?
15% down
What is the name of this famous monument with 4 US Presidents carved into the side of a mountain?
Mount Rushmore
What kind of schedule shows the principal and interest breakdowns of a mortgage payment over a term?
Amortization Schedule
This screen will show an associate all of the real estate that an applicant owns
The Real Estate Owned Screen
When the line amount is greater than $200,000 and Third Federal is in first lien position, the max LTV allowed is...
80%
A borrower must set this up, in order to avoid a .25% rate bump.
ACH / Autopay
This famous landmark is part of the western coast of Ireland, facing the Atlantic Ocean.
Cliffs of Moher
This figure that associates must quote represents the interest rate, plus any costs involved, expressed as a percentage.
A.P.R
This screen is where an associate can input a follow up branch, or a realtor name, or a seller name, etc. Name of screen must be exactly right.
Assign Contacts
The current margin on TF's HELOC interest rate is.....
-1.01%
When using one of TF's 5/1 ARM products, the max loan a customer can go up to is...
$2,000,000
What famous mountain peak (well actually an active volcano) is a notable symbol for this Japan? It’s actually THREE volcanoes in one.
Mount Fuji
This type of loan is any mortgage loan that is not insured or guaranteed by the government (such as FHA, VA)
Conventional Loan
This screen will allow an Associate to click "Evaluate" when we are pulling in a credit report. The name of the screen must be exactly correct.
Results Recap Screen
Name 20 of the 25 states that Third Federal offers a HELOC in (do not include DC)
OH, FL, KY, CA, CO, CT, GA, IA, IL, IN, MA, MD, MI, MN, MO, NC, NH, NJ, NY, OR, PA, TN, VA, WA, WI
A closing for a purchase transaction will take place where?
with a title company
Now a landmark known to inspire and welcome weary immigrants as they enter this country, what was actually given as a gift by the French in 1886 as a symbol of friendship between the two nations?
The Statue of Liberty
What is the 1st digit in Andrew's NMLS #?
9
#913649
This screen is where an associate would go if they want to jump from one linked loan, to the other. The name of the screen must be exactly correct.
Hot Swap
The current qualifying rate for our HELOC is...
Greater of Fully Indexed Rate or Note Rate plus 0.25%
For a second home/vacation home, the minimum down payment must be what?
30%
Christ the Redeemer, one of the most famous religious statues, was completed in 1931 and features a 98 foot tall Jesus with outstretched arms spanning an amazing 92 feet! What South American city does it overlook and in what country?
Rio de Janeiro, Brazil