Amazon Loan
Identify the stage based on the SAG matrix. Review credit memo in Portal.
What is Initial Review?
Lender allows a borrower to temporarily postpone making their regular loan or credit payments for a specified period of time.
What is payment deferment?
A set of key questions to determine appropriate workout plan requested under the initial review stage of the SAG matrix.
What is a SAG Questionnaire?
Name 4 phases consist within the SAG matrix?
What is initial evaluation, strategy options, implementation & tracking, and loss mitigation?
Review borrower's cashflow activities via linked deposit accounts.
What is Plaid?
Recalculating a loan's payment schedule to create a new amortization plan based on the current outstanding balance
What is re-amortization of the loan?
Under the initial review, the following criteria reviewed:
1. Determine the SSBCI gty %
2. Review loan documents (Portal)
3. ?
What is review the credit memo?
A business intelligence and verification platform that provides comprehensive reports on businesses, primarily used for business identity verification.
What is a Middesk Report?
For amazon loan is unresponsive after 60 days.
What transfer loan to collection agency?
Lengthening the overall time period the borrower has to repay the debt.
What is extended maturity?
A federal database that tracks individuals who are delinquent or in default on debts owed to the U.S. government.
What is a CAIVRS report?
Tax information authorization form, is used to authorize any designated individual or entity (such as an accountant, lawyer, or loan company) to inspect and/or receive their confidential tax information for specific tax matters.
What is 8821 Tax Form?
Once the Amazon loan is unresponsive after 45 days, name of the correspondence from a third party.
What is an Attorney Demand Letter?
Any modification to the original contractual conditions of a credit agreement between a lender and borrower.
What is change in terms?
A financial technology service that analyzes bank account transaction data to assess an individual's or business's income patterns, spending habits, and overall financial health.
What is PLAID cashflow activities?
A change to the terms of an existing loan to make the payments more manageable for a borrower facing financial hardship. It involves altering the loan's terms, such as lowering the interest rate or extending the repayment period.
What is a loan modification?
Borrower requests a payment deferral
What is loan modification?
Three types of changes offered under the following workout plan.
What is loan modification?
An official form that allows taxpayers to authorize the IRS to disclose their tax return information to designated third parties, such as lenders, accountants, or other representatives.
What is 8821 IRS Tax Request Transcripts?
An internal document prepared by a lender that formally documents the decision to charge off a delinquent loan as a loss for accounting and regulatory purposes.
What is a charge off memo?