Carvana
To cancel recovery, how many dpd will these accounts need to be under?
Equal or less than 70
To cancel recovery, we must get the dpd under what?
120
How many dpd must the account be to charge off at the end of the month?
120
What's the payment required to cancel recovery?
Must roll a single due date!
Which Modifications require two disclosures during the mod process?
Due Date Change
Customer made payment on friday to bring account to 65 DPD, payment returned and now the account is 97 dpd. How many payments are needed to cancel recovery?
Regular payment or ATR will cancel recovery efforts.
How many dpd must these accounts be for recovery to start?
120
Once the account is charged off, will the customer still have access to payment portal.
No they will need to call in and speak with Charge Off.
When is the account considered an early default?
Between the 2nd-6th payment, the account can fall under early default.
For Carvana loans, when can customer request due date change?
1st payment must be complete.
If the account is 105 dpd, how many payments will they need to cancel recovery?
1 payment + ATR
If there is a same day NSF, we must look at what 3 things to confirm the amount to stop recovery?
Days Delinquency inside the vision. Receipts and Pending payment tab.
How can an account avoid charge off?
Account has to be 119 DPD at the end of the month.
Which accounts are manually placed out for repo at 11 dpd without the first payment made.
DT Ally accounts must be assigned for unwind.
Should the customer make payment during the Frequency Change?
No, we must inform customer not to make payment until mod completes.
Account is 74 dpd, and no payment has been made in 48 days. What is this called?
70/45 Rule
How many payments are needed to cancel an account that's semi-monthly and is 136 dpd?
Regular payment + ATR
After maturity date, how long does the account holder have, to pay the unpaid principle balance prior to charge off?
90
What's needed to cancel recovery on an early default loan?
Must Roll a Due Date and bring account equal or less than 70 dpd.
How many extension can a Carvana loan have?
Cannot exceed 6 payments in the life of the loan.
This account will need 2 payments + ATR to cancel recovery. How many days past due are they?
131-160
If the account is 132 dpd and they only make 1 payment. How many days until the account is back out for recovery?
2!
If the account is 117 dpd on the 31st of the month, will it charge off?
No, the account must be 120 at the beginning of the month to charge off.
In the fourth month of the loan, the account is 63 dpd, and customer hasn't rolled a due date in 45 days. Will this be eligible for repossession.
Yes.
How many extensions can be processed at once for DriveTime Bi-weekly and Semi-Monthly accounts
8 payment extensions