Home Equity
What is the max LTV (Loan to Value)?
What is 80%
How do you initiate?
What is Fusion or Invite to Apply (Check Your Rate and Full Application)
How do you initiate?
What is Fusion or Invite to Apply?
Where do you go to find resources, advanced lending, watch recorded calls, and all things consumer lending?
What is the Consumer Lending Resource Hub (CLRH/)?
What is the max DTI for Home Equity Loans and Home Equity Lines?
What is...
43% for Home Equity Loans
50% for Home Equity Lines
True or False: We offer private party auto loans.
What is False
What is the credit criteria?
What is 680 or 740> $25,000
What is $5,000-$25,000
What is the new system used to underwrite Home Equity products?
What is Net Oxygen (Net O)
How do you take applications?
What is Fusion and Blend. You can start the app in Fusion and cusotmer can complete in Blend OR the customer can complete the entire app in Blend through your product specific link.
What is the credit criteria to qualify for an auto loan?
What is 620
What are the terms available and dollar amounts?
What is...
$1,000-$4,999.99 12 months - 36 months
$5,000-$9,999.99 12 months - 60 months
$10,000-$50,000 12 months - 84 months
What is the credit criteria?
What is 680+
This is the report you use to manage your pipeline, forecast how many applications and production is needed to end positive, etc.
What is the Lending Application Planning Tool (LAPT)
When can we do a HE loan in branch?
What is...
1st position when free and clear
2nd position
Primary properties only
How do you run rates for an auto loan?
What is Concierge Payment Calculator
What are the stipulations for a non-customer (Term, Dollar Amount, FICO, and DTI)?
What is...
60 months
$25,000
720 FICO
50% DTI
What is the max DTI?
What is 50%
What is the system that you use to complete a home equity closing?
What is Settlement Agent Workspace
What types of equity products do we have and what is the difference?
What is...
Home Equity Loan and Home Equity Line
Loan is a single installment paid at one time with fixed ratesLine is an open variable credit line that can draw for 10 years and a 20-year repayment. has the ability to have line locks and variable rates.
What is the debt-to-income requirement for an auto loan?
What is FICO 675+ 60% <675 50%
What types of discount groups are there?
What is...
Auto Private Party: 1%
Debt Consolidation (no discount)
Home Improvement: 2%
Other/General (no discount)
When is a personal line a good choice for the client?
What is...
When the client is looking for flexible monthly payments and the ability to borrow/repay
When the client is looking for consolidation, cash advances, home improvements, or large purchases
What is the name of the company we've partnered with that completes a secondary review for clients that apply for a personal loan and don't meet the traditional requirements to find other options for them?
What is Pagaya