Uno's Enterprise FACTA Jeopardy

FACTA

What Reference # am I?

Action

Policy

Random

100

^{Applicant: John Doe / Co-borrower: John Doe Jr}

^{Inside the fraud/resolve/ofac/dup box it states: (John Doe Jr) Consumer Fraud Statement. Primary applicant has date of birth discrepancy. Who has the date of birth discrepancy?}

^{a. John Doe and John Doe Jr.}

^{b. John Doe Jr.}

^{c. John Doe}

^{d. no one}

c. John Doe

100

Applicant has X Inquiries within 90 days?

a. REF # 2

b. REF # 12

c. REF # 5

d. REF #7

b. REF # 12

100

A phone call is required on ALL deals with this alert. No decision can be made.

a. A decline

b. An approval

c. Credit Freeze

d. All fraud alerts

c. Credit Freeze

100

Vantage Auto FICO is 719 / Zest Custom Score is 49. What is max DTI for an Auto loan?

a. 55%

b. 50%

c. 45%

d. 40%

c. 45%

100

What is a Processor's Lending Authority on a front-end LTV over program?

a. 0% / $0

b. 1% / $5

c. 2% / $1,000

d. 3% / $1,000

200

^{What verbiage is required for ALL approvable Joint (J) applications that has a fraud alert?}

^{a. DOB Discrepancy - The date of birth must be verified with acceptable primary identification prior to funding}

^{b. Nothing - no verbiage is required.}

^{c. FACTA notation — researched alert for Jane Doe see below. No research required for John Doe based on actual alert in applicants credit files.}

^{d. Variance Amount - stated payment amount within acceptable variance allowed}

c. FACTA notation — researched alert for Jane Doe see below. No research required for John Doe based on actual alert in applicants credit files.

200

Military Active Duty Alert?

a. REF # 2

b. REF # 7

c. REF # 5

d. REF # 12

c. REF # 5

200

Vantage Auto FICO is 679 / Zest Custom Score is 89. What is the max dollar amount and the max current delinquency number of days on a deal if you're looking to approve but it currently has a delinquent auto tradeline?

a. $25 / 30 days delinquent max

b. $50 / 60 days delinquent max

c. $100 / 90 days delinquent max

d. $0 / 0 days delinquent max (cannot approve)

Note: If the delinquent tradeline is on an auto, a mortgage, or an installment -- you cannot approve / must decline (hold to decline) per Sups email.

200

Vantage Auto FICO is 689 / Zest Custom Score is 98. What is max loan dollar / percentage for a non-G1 member auto loan?

a. $120,000.00 / 125%

b. $120,000.00 / 120%

c. $120,000.00 / 115%

d. $99,999.00 / 100%

Note: High Dollar Program is available for T0-T2 only. This is a Tier 3 therefore this is the max dollar amount.

200

^{How do you clear an approvable deal for a G1 mbr with a Consumer Fraud Alert that has a phone number on the credit bureau?}

^{a. (REF#2) Credit report does not have a phone number listed for member. Contacted member John Doe at the phone number provided on DataSafe. Verified Current Address, Previous Address, Last 5 of SSN, Verified Mortgage lender Freedom Mortgage and Monthly Payment $3250, and Installment lender Patelco CU and Monthly Payment $526.}

^{b. (REF#2) Contacted applicant John Doe at the phone number provided on the credit report. Verified Current Address, Previous Address, Last 4 of SSN, Verified Auto lender Navy FCU and Monthly Payment $795, and Credit Card lender PostCity FCU and Limit $525.}

^{c. (REF#2) Contacted applicant John Doe at the phone number provided on the credit report. Verified Last 5 of SSN, Previous Address, Current Address, Verified Auto lender Golden 1 CU and Monthly Payment $995, and Credit Card lender JPMCB and Limit $750.}

^{d. (REF#2) Contacted applicant John Doe at the phone number provided on the credit report. Verified Current Address, Previous Address, Mother's Maiden Name, Verified Auto lender Mechanics Bank and Monthly Payment $450, and Credit Card lender Citi and Limit $1895.}

300

^{What verbiage is required for ALL approvable co-signer(C)/co-borrower(C) applications that has a fraud alert?}

^{a. FACTA notation — researched alert for Jane Doe see below. No research required for John Doe based on actual alert in applicants credit files.}

^{b. DOB Discrepancy - The date of birth must be verified with acceptable primary identification prior to funding}

^{c. Variance Amount - stated payment amount within acceptable variance allowed}

^{d. Nothing - no verbiage is required.}

d. Nothing - no verbiage is required.

^{Note: Co-signer(C)/co-borrower (C) applications have separate credit bureaus pulled therefore the internal comments do not have a semi-colon in-between two applicants name on the FACTA alert.}

300

Multiple Social Security Numbers (SSN) Found on Credit Report

a. REF # 2

b. REF # 12

c. REF # 5

d. REF # 7

300

When a Branch clears a fraud alert with no phone number, select which step is not applicable/not needed below in order to proceed with decisioning the deal?

a. Step 1: Verified the applicant's primary identification card.

b. Step 2: Contact the phone number provided in the alert.

c. Question # 1 & Answer # 1 completed + matches.

d. Question # 2 & Answer # 2 completed + matches.

e. all of the above are correct therefore this is the best answer.

b. Step 2: Contact the phone number provided in the alert.

300

Vantage Auto FICO is 750 / Zest Custom Score is 130. What is max DTI for an RV loan?

a. 55%

b. 50%

c. 45%

d. 40%

c. 45%

300

^{How do you clear an approvable deal for a non-G1 mbr with a Consumer Fraud Alert that has a phone number on the credit bureau?}

^{a. (REF#2) Contacted applicant John Doe at the phone number provided on the credit report. Verified Current Address, Previous Address, Date of Birth, Verified Auto lender Wells Fargo and Monthly Payment $300, and Credit Card lender Chase and Limit $1,000.}

^{b. (REF#2) Contacted applicant John Doe at the phone number provided on the credit report. Verified Last 5 of SSN, Current Address, Current Address, Verified Auto lender Schools Credit Union and Monthly Payment $700, and Credit Card lender Citi Bank and Limit $10,000.}

^{c. (REF#2) Contacted applicant John Doe at the phone number provided on the credit report. Verified Date of Birth, Previous Address, Last 5 of SSN, Verified Auto lender Golden 1 CU and Monthly Payment $695, and Credit Card lender JPMCB and Limit $4,750.}

^{d. (REF#2) Contacted applicant John Doe at the phone number provided on the credit report. Verified Previous Address, Last 5 of SSN, Current Address, Verified Auto lender Bank of America and Monthly Payment $500, and Credit Card lender PNC Bank and Limit $4,000.}

400

The Enterprise (FACTA) Quick Reference Checklist has how many examples of scenarios lin the section "If your Enterprise (FACTA) Alert is ..."?

a. 11

b. 21

c. 26

d. 29

c. 26

400

Consumer Fraud Statement?

a. REF # 7

b. REF # 5

c. REF # 4

d. REF # 2

400

Vantage Auto FICO is 795 / Zest Custom Score is 148. What is the max dollar amount and the max current delinquency number of days on a deal if you're looking to approve but it currently has a delinquent revolving credit card tradeline?

a. $0 / 0 days delinquent max (cannot approve)

b. $25 / 30 days delinquent max

c. $50 / 60 days delinquent max

d. $100 / 90 days delinquent max

c. $50 / 60 days delinquent max

400

Vantage Auto FICO is 762 / Zest Custom Score is 170. What is max PTI for an auto loan?

a. 55%

b. 50%

c. 20%

d. 15%

c. 20%

400

Who is our EVP who can sign off on a Policy front end LTV of 15% / $7000?

a. Bill Poppen

b. Walter Anasovitch

c. Greg Leonard

d. Chris Hamilton

500

^{What does FACTA stand for?}

^{a. Fair Asset Credit Transactions Act}

^{b. Fair and Accurate Credit Transactions Act}

^{c. Fair Accurate Credit Transactions Act}

^{d. Fair Account Credit Transactions Act}

^{b. Fair and Accurate Credit Transactions Act}

500

Freeze on Credit Report

a. REF # 2

b. REF # 5

c. REF # 4

d. REF # 7

c. REF # 4

500

Non-G1 mbr with Vantage Auto FICO: 760 / Zest Custom Score is 17. The address listed on the credit bureau does not match with the address listed in LoansPQ. What action do you take?

a. Action: Nothing, decision the deal.

b. Action: Stip Proof of Residence for Address Discrepancy

c. Action: Decline the deal.

d. Action: POR is not required. Park deal in NMI Q.

Proof of Residence is required

b. Action: Stip Proof of Residence for Address Discrepancy

500

Vantage Auto FICO is 690 / Zest Custom Score is 171. What is max DTI for an RV loan?

a. 55%

b. 50%

c. 45%

d. 40%

500

Who is our SVP who can sign off on a Policy front end LTV of 15% / $7000?

a. Donna Bland

b. Chris Hamilton

c. Walter Anasovitch

d. Greg Leonard

c. Walter Anasovitch