Tech/Compliance

Application Approval

100

Prompt read once you have a system approved, ready to close status

Rates that I share with you are APRs unless otherwise indicated and are subject to change. These rates include a 0.25% discount for using automatic payments on this loan. Your final approval is subject to verification of collateral value

200

Inform the member of the following

Annual Percentage Rate (APR)

• Expiration Date of loan offer.
• Max Qualified Amount
• Max Term
• Max LTV (Loan to Value)
• Value of collateral must support the amount requested below.
• Rates are subject to change at any time and can be affected by collateral year, loan amount and/or term

300

member is not ready to close

1. Set up Collateral and Finance Page with as much information as the member has available. Set expectations with the member that if they change the age of the vehicle from what they applied for, they will need to update the vehicle age in the application prior to the loan being funded.

2. Inform the member they will be receiving an approval letter by email within 24 hours, which includes information needed to close the loan and paths to access the loan on mobile and .com.                             

   Member will also be able to review their loan offer details on usaa.com. They can access the loan details by using the re-entry link posted on their Accounts Summary page.  

400

counter offer letter

If the member received a Counter Offer, they will receive the Counter Offer Letter via Regular Mail in approximately five to seven business days

500

Related Regulations

Regulation Z: Truth in Lending
Regulation B: Equal Credit Opportunity Act (ECOA)

Finance a Purchase Loan Application

100

POA

ASK EVERY TIME

200

WHAT DISCOSER IS NEEDED FOR PURCHASE AND SECURED PERSONAL LOAN

"If registration/title owner names will be different from the names on this loan application, additional signed documentation may be required."

300

INFORMATION NEEDED TO CONFIRM BEFORE PULLING UP APPLICATION

Full Legal Name (First and Last)

• Physical address including zip code
• Email
• Home Phone Number
• Citizenship information

400

CELL PHONE ??

MAY I USE THE MOBILE NUMBER AS THE HOME NUMBER?

500

AFTER ANY CHANGES ARE MADE TO CONTACT INFORMATION

REFRESH IN CLAS

Application Declined

100

credit score is provided

An applicant's Credit Score can only be provided to that applicant and should not be proactively given

200

DECLINE PROMPT

 “I’m sorry but your application was not approved.  You will receive a letter in the mail explaining the decision within 5 to 7 days

300

PROACTIVE WITH OFFERING APPLICATION OPTIONS OF LESSER VALUE

Do not proactively solicit a second application for a lesser amount after a decline. If a counter offer was available, the system would approve the application as a counter offer.

400

Fair and Accurate Credit Transactions Act

FACTA

500

I've been a loyal member and have always paid you on time.

USAA appreciates your long time membership and while that does play a part in your loan decision ultimately you must still credit qualify for the loan.