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100
Who is the best OJT in the world????? (If you get this wrong I will FAIL you!)
Oh yeah, Thats what I thought! :)
100
What is a HELOC loan?
Home Equity Line of Credit
100
If an account is flagged with an active CIT for "LMU", what assistance option do we need to advise them of that Vericrest offers?
Refinance
100
What is the time line for a loan modification?
1. Tier 1,2 Collections (Discussion) 2. Loss Mitigation (Review) 3. Customer Care (If approved)
100
Authorizations must now be in what only?
Writing
200
What is escrow?
When the customer opts to include their taxes and/or insurance with their mortgage payments
200
Who handles home-owners insurance policies for Vericrest, whether is escrow or FP?
Assurant
200
If a customer has a surplus after reviewing their financials, and they have the willingness to keep the home. What assistance option do we want to advise them of?
Repayment Plan
200
What are the 3 main requirements for a customer to submit for a loan modification review?
Hardship letter.......Verification of Income......Expenses
200
When sending a third-party authorization to Vericrest, what department handles these to upload?
Customer Service
300
What 3 items must you always look at after "first" pulling up an account? (Fiserv)
Borrowers.....flags.......delinquency
300
The SCRA protects whom?
Service Members/ Military
300
If a customer is able to bring their account current by the end of the month (EOM), what do we setup on their account to show arrangements?
Promise
300
What program do we ALWAYS want to utilize before giving assistance options?
CORE
300
What do you do if the customer says "you already have it on file from last year!"
Research Doculogic and verify if it is there, if it is - setup task #437 requesting this information to be placed in the 3rd party authorization flag
400
When do you NOT state the MM?
BK, BK Discharge, prior BK & special handling
400
If a customer calls in with questions about their account, the account is flagged with a Cease & Desist -&- Bankruptcy discharge.......Do you state the MM? And where would you transfer the call?
No MM because its a BK Discharge. This account would need to be transferred to the BK discharge department.
400
What ACT simplifies the requirements for consumers to report suspect fraud or identity theft?
Fact Act
400
What type of loan do we always want to keep performing, and push for modifications?
2007 - 1
400
What 3 types of authorizations does Vericrest have?
Borrowers........3rd Party........Community Property State
500
If a customer is unable to bring their account current this month, what option per the arrangement heirarchy must you do next?
Update financials using CORE
500
What is a breach letter?
a certified letter we send out advising if all past due amount are not received before the date on your letter then the account could possible go into foreclosure review.
500
What is a lump sum payment due at the end of the loan or a specified time?
Balloon note
500
If a customer is overextended (negative in financials), what option do we want to give them if they no longer want the property?
Short Sale / Deed-in-Lieu
500
If an unauthorized party states they want to make a payment, can we accept a payment & what must they know?
Yes, must have the payment amount & the bank information