Which is which?
What is the customer's payroll frequency?
February 06, 2019
January 23, 2019
January 09, 2019
December 26, 2018
B/W every other Wednesday
____________ is a close and harmonious relationship in which the people or groups concerned understand each other's feelings or ideas and communicate well.
Rapport
How many correct answers should be provided by the customer to consider that the account is verified?
4 correct answers
Can we continue the application for a customer with the following details?
Position: Caregiver
Employer's Name in LMS: Mrs. Jane Miller
Payroll Name (DDs): Mrs. Miller
No, we can not proceed. We need an actual Business Name.
New customer is employed by USPS, how do you proceed?
Deny
During a conference call with the bank, the banker says that the account does NOT have unlimited ACH debits/credits. What should you do?
Ask the customer to complete a DL
A customer is missing most recent DD. How do we proceed?
TBW
Prequalified amount Computation: If the customer has inconsistent Payroll Frequency and Receiving Paper Checks, we can no longer continue with the application due to 2 Strong Exceptions.
FALSE
VPS says that the customer's prequalifed amount is $536. How much can we lend?
$525
It is OK to proceed with the loan process after verifying that the customer you are talking to is the owner of the checking account used on the application.
TRUE
What is the maximum term to pay off a loan?
52 weeks
What are the 4 strong exceptions?
a. VOE via DD
b. 2 DD's/2 EOD
c. Gets payroll today or tomorrow
d. Last Payroll Papercheck/inconsistent PF
When using the suggested script, what is the required element you need to mention when explaining Pay Down payment option to avoid a failed compliance?
Fast pay
When do we need strong voe?
1. 50% lower than the second and third direct deposit.
2. If customer changes their answer from getting paid Direct Deposits to Paper Checks due to this discrepancy, we require a Strong VOE.
When using the suggested script, what is the required element you need to mention when explaining Schedule payment to avoid a failed compliance?
Default Payment
Complete the statement.
I understand where you are coming from Mr/Ms [name of the customer] The annual percentage rate is based on the [24/26/52] installment payments that you see on the loan agreement. This is not mandatory and you can avoid that annual percentage rate or APR by ____________________________________.
paying the loan in full or doing pay downs
If the customer asks when they are going to receive the funds, the correct response is:
Once the loan is approved the money will be deposited via ACH which takes one business day
In VPS, numbers between parenthesis mean ____________.
Negative balance
What phrases need to be mentioned during the EPO?
Default Payment, Fast Pay, Pay in Full
In order to a strong VOE to be valid, you must verify employment status with _____________.
HR or Payroll department.
What information should you gather at the start of a Relay Call?
Interpreter ID and company
We can skip an application when _______________.
A. Call limit has been reached for the day
B. A follow up has been placed
Customer lives in NJ but works for a company in NY, can we proceed?
Yes, as long as home address is in NJ
You cannot provide the Verbal Agreement to the customer UNLESS
Customer has signed the Loan Agreement
You need to send a DL document because the bank doesn't take 3wc, and you aren't sure of how to explain what a DL is to the customer. What can you reference?
Call Handling Scripts