BK/REPO/FC

BANKRUPTCY

100

How to identify bankruptcy accounts?

• case tag on Aperture
• case number 

200

 What do I do when a member mentions they have filed a bankruptcy?

email [e-mail] or contact the Bankruptcy Team at ext. 82378, option 2)

300

WHAT DOES "BANKRUPTCY PETITION? MEAN?

Opens the BK case

400

Can members still apply for a new loan on a discharged bk account?

yes, we cannot stop members from applying 

500

What does MFR stand for?

Montion for relief

REPO

100

What is Unitas Financial Services Protection?

blanket insurance policy

200

WHEN DOES REPO REVIEW HAPPEN?

AFTER 60 DPD

300

CAN YOU TELL A MBR WHN A VEHICLE IS A DNR?

NOOOOOO

400

WHAT STEPS NEEDS TO BE DONE IF THE IM TAG IS ON AN ACCT?

GET IMPOUND DETAILS LIKE HAS VEHICLE BEEN IN AN ACCIDENT? ARE THEY REDEEMING THE VEHICLE

500

What is the fee to close a repo?

$275

FORECLOSURE

100

WHAT DOES SPOC STAND FOR?

SINGLE POINT OF CONTACT

200

Notice of Sale

Document that provides information about the foreclosure sale, including the time and place of the sale

300

What happens at 120+DPD?

SPOC LETTER GETS SENT OUT

400

What is Foreclosure?

the legal process where a lender takes ownership of a property, due to the borrower's failure to make mortgage payments

500

Loss Mitigation

The process where members and MACU work together to avoid a foreclosure (typically through a WOL or short sale)