Curing Tools
What DQ buckets can i offer a renewal to?
All buckets - starts with an application
How much does a TM Make when they hit Standard target?
$50
What are Regionals minimum and maximum loan amounts
$ 801 to $35000
$40000 as exception approval
What is the minimum Auto Loan Value for a vehicle to be used as collateral for Big Auto?
What are two ways to control Delinquency?
Growth and Collections
Tell me what a short term problem is compared to a long term problem
Short term - tire blew out and had to get new tires
Long term - I lost my job last week
What is the amount a TM makes when they hit exceptional Target?
$100 plus $15 every unit over Standard target
What is Regional Finance best preforming product?
Big Auto
Customer qualifies for a $30000 Big Auto - They owe $18000 to GM Financial and owe Regional $5000. How much cash will the customer receive at closing?
$7000
How many applications are TM's expected to generate daily?
3
What are Regional's 7 Curing Tools?
Renewals, DQ Renewals, Payment Arrangements, Repo, Settlements, Modifications, Deferrals
How much does the Top 25 TM's in the company in NNM make?
$500
Who can i run a DCP on and what is the maximum number of DCP's I can run on a customer???
If you have a customer showing $0 available for Big Auto due to 70% DTI what can you do?
Add more income or Consolidate Bills
How do you calculate DQ?
Total $ Amount in DQ bucket Divided by Total $ in ledger
What qualifications need to be met in order to qualify for a deferral?
Must start the month as a pot+
1 full payment made in the last two calendar months
How much does a TM make when branch hits check conversion target?
$50
If you have a check customer for $2400 and convert to $2500 -- how much credit do you and the branch get for NNM?
$2500
What is max PTI on Big Auto ?
If over how can you qualify the deal?
20%
Add more income or a qualified co signer
How much does Regional Pay for customer Referrals?
What is the 6 Step Curing Process?
1.Renew
2.Pay Total Amount Due, if cannot pay utd, revisit Step 1
3.Pay & Defer, if cannot pay with Def, revisit Step 1
4.Defer, if refuses or not eligible, revisit Step 1
5.Pay DQ amount to move today with a clear plan to cure acct. If cannot pay or no clear plan, revisit Step 1
6.Future Dated Hard Set within 5 days for total Past due amount, if cannot – revisit Step 1
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*If you cannot cure the account with the 6-Step Process, then you need BM/GM involved while the customer is on the phone.
What does a TM make for Auto Secured??
$50 - renewal auto secured not within the last 90days
$100 - new auto secured
cannot be a DQ renewal
What are best practices at loan closings that sets customer up for a successful repayment future with Regional??
Auto Pay, Correct Due Date, and Ensuring customer understands their contract.
What does NLS show for LL/Big Auto as the qualified amount when a customer has a prior BK on their credit?
How do you determine what amount the customer qualifies for?
$0
Use the Big Auto LTV & Risk Rank Job Aid to calculate the amount the customer qualfies
Repeat the customer sales script
Team Member: Hi, may I speak to ___________? Customer: Yes, this is ___________. Team Member: Hi, this is [Team Member], your account manager with Regional Finance. I don’t want to take up too much of your time. I was giving you a call for two reasons. Team Member: The first reason for my call is to say thank you for your business and we appreciate your loyalty as a valued customer. Team Member: The second reason I was giving you a call is that part of my job as your account manager, is to look at the account you have with us and see if there’s an opportunity to put you in a better financial position. What I would like to do is take a moment to update your information and review the best options available