General Payment Knowledge
What is the final date and time of the grace period?
What is the 16th 11:30 pm EST
What system do we use to process loan maintenance?
What is MSP.
When can you delete a one time payment?
What is the same day.
How many late fee waivers do we offer?
What is 1 for the life of the loan.
What is the turn time for a BOLT follow up?
What is 48 BUSINESS hours.
Can you return a payment if the client is due for that month?
What is no.
What 3 things is loan maintenance used for?
What is returning payments, moving funds, and applying suspense funds.
When can you delete an autopay?
What is 1 business day before.
Do we waive any other types of fees?
What is no.
What should you do when setting up a payment and there are fees on the loan?
What is be assumptive and include it in the payment total.
What does Rocket Mortgage consider business days?
What is Monday through Saturday.
What do you enter for the "Date of Transaction", during a loan maintenance?
What is the date the payment was received.
If a client is calling in to change from monthly to biweekly, do you delete or edit the payment?
What is edit the payment.
What is the corporate advance amount RM will allow for a short payment?
What is $5.
When can you live transfer to BOLT?
What is once you have advised of the follow up process at least 2x.(WARM transfer only)
When can a principal payment be made?
What is after the monthly payment is satisfied.
What is the time limit to return a payment to a client?
What is within 30 days of received payment.
Where can you access payment logic?
What is in BK under transactions and/or loan maintenance in MSP.
What is the last day of the month.
What 4 things are required in our payment recap?
What is payment date, payment amount, last 4 digits of bank account being used, and confirmation that they are authorized on said banking.
How can a loan be paid off sooner?
What is biweekly autopay and additional principal.
When can we return a double payment?
What is when both payments have successfully cleared their bank account.
What payment forms typically call for payment logic to be updated?
When a client is using Bank Bill Pay (BBP) or sending in check.
Who does the client contact with questions regarding their credit score?
Who is the credit bureau.
What 3 things must you offer/advise after your payment recap?
What is self service, autopay, and CBI when applicable.