FRAUD
It is every employees responsibility to do what?
Mitigate fraud
What documentation is required for a dealership purchase?
Bill of Sale/Buyers Order, proof of insurance, copy of ID (per borrower), Power of Attorney.
What Allied Products do we offer?
GAP, MBP (Warranty) and Memberguard (MBG/Debt Protection)
What is a tri-merge?
A tri-merge combines the credit info collected from the three bureaus into a single report.
What is the lowest auto loan rate available?
5.49%
Reading answers from paper, stumbling to verify information, and being unable to answer questions they should know are examples of?
What is Red Flag Behavior?
What documentation is required to for a personal loan over $5,000 and a score less than 720?
Proof of income
What is the age requirement for Memberguard Debt Protection?
Under the age of 70
What credit bureau do we utilize?
Transunion
The max term allotted for a vehicle older than 10 years
60 months
Joe Criminal has a SSN and information for John Smith and submits a loan request in John Smith's name and SSN is an example of what?
Identity Theft
How should a member sign their name on a power of attorney?
As it appears on their drivers license
For a full refund GAP has to be canceled within how many days of issuance?
60 days
What are the 4 C's of credit?
Character, Capacity, Collateral, Capital
Mileage is over 100,000
Altering information on a paystub or providing a fictitious paystub is an example of?
Paystub/Employer Fraud
What documents are required if a dealer is on the dealer watch list?
Copy of original title, all reassignment paperwork, documentation if vehicle was purchased at auction.
What is the waiting period before a member can utilize the involuntary unemployment benefit?
90 days
When is the collection of income required?
Self-Employed borrowers, or borrowers with a score less than 720.
If a member wants a personal loan under $1,001 what loan option is available?
Personal Access Line (PAL)
These items have issue dates printed on them after October 2007
Social Security Cards
What documentation is required from the member to complete an external refinance?
10 Day Payoff, proof of insurance, valid registration, copy of ID, power of attorney, state applicable title forms.
What are the three Mechanical Breakdown package levels?
Classic, Preferred, Ultimate.
In order to use part-time income they must meet this requirement
Income must have been received for at least 12 consecutive months prior to the application date.
What are the four loan types that can be processed in Loans PQ?
Home Equity, Personal, Auto, Personal Access Line (PAL)