JEOPARDY MANIA

Lending Basics

10

What is one difference between a traditional HELOC and the FHEL?

Typical HELOC – Variable Rates
FHEL – Fixed Rates

20

What credit bureau does Figure use?

Experian

30

DTI should be less than _ post funding

50%

40

What are all the Fees charged by FHEL?

Origination

Manual Notary

Recording

50

What is the difference between interest % and APR%?

Interest % is the % of the line amount that it costs to borrow money. APR % is the % of the ACTUAL costs over the entirety of the line.

ID Verification

10

If the ID verification tab displays _________ error,  a Mitek employee will manually review the ID.

Manual Upgrade

20

State any 3 acceptable IDs

Driver’s License
Learner’s permit
Temporary ID card
Limited Term ID
State ID
Passport

30

If an ID failed due to Busy Background, I.e. there is a pen behind the photo, what will you do.

Snip and Re-run the Image

40

How will you know if the ID has passed or failed in MITEK?

Once the ID is uploaded, refresh the screen, check the date and time in ID verification tab, check if all are green.

50

What are all the indications of Potential Fraud in the ID?

Age and Demographics, Perfect Signature, Ghost Image mismatch, Eye or hair colour, does not match with the standard ID, photoshopped look, no glare etc.

General Figure Knowledge

10

In Which Channels you will get the procedural updates?

So Whats changed

CSC Updates

20

How will you select the email profile when you want to send email to the applicant?

By looking at private label, match it with profile id starting as [e-mail]

30

What is the difference between NICE CXONE and NICE IEX

IEX - Schedule

CXONE - Email

40

How will you view the documents that is belonging to the additional Signer?

By Clicking on the additional Signer Icon below Primary applicant Icon

50

What is the name of the document that you will refer for writing outcomes?  

ORIGINATIONS NOTATION MASTER

Income Verification

10

There are 2 Ways to conduct Income Verification. What are they?

Automated and Manual

20

Spousal Income is qualified for ____ and ____ states

Community and Homestead

30

We cannot accept ___ only paystub

Bonus / Commission

40

What are the 3 ways an applicant can submit his income documents?

CSP, Email, Chat

50

What are all the pay stubs that is qualified for Manual Income

Regular Employee

SSA (Social Security Administration)

VA (Veterans Affairs)

Bank Account Ownership

10

Applicant can send his bank statement through email

True or False

False, applicant can upload his bank statement in CSP

20

What will you do if the bank statement is missing full account number

Request Voided Check if not bank letter where Full account number is present, send to review for Specialists

30

Difference between GIACT and PLAID

GIACT  - Account number and Routing Number

PLAID - Username and Password

40

You can link business account as DA account 

True or False

True, Business account is not eligible for Income Verification but can be added as DA account

50

Which is the scenario you will request a marriage certificate while you are processing Bank task

- Account is in Spouse's name
- Spouse is not in Vesting
- Property is in community state
- Primary applicant stated that he is married