Show:
Know Your Requirments
Know Your Pricing
Know Your Role
Know Your Processing
Know It All
100
Where does your NMLSR ID have to be displayed?
Anywhere your name is. Business cards, Active Rain, LinkdIn and all other internet placements
100
If I am requesting an extension when does it need to be submitted?
Before Noon of the Day the loan is expiring
100
Can you tell a customer that you cannot take their application without Income tax returns or asset statements?
Yes, you can tell a customer you cannot take an application without complete income/asset docs. Follow the “ready-not ready” document. Keep customer in “Credit Counseling” until you have a complete application, then move forward with a complete application
100
What do you tell a customer who is asking for a copy of their credit report?
WFHM is not a credit reporting agency and must not provide a consumer credit report to anyone
100
What Non delivery fees can the borrower pay?
Reprice, Return to float, upfront Extended lock fees
200
How long is advertising materials (approved by Ad Services) good for… for Rate & Term info? Program info? How often does your HMC website get reviewed?
Rate & Term = 60 days, Program Information = 90 days, HMC website reviewed annually
200
Who is responsible for submitting a CCV request?
The HMC
200
What are the four items needed to submit a ‘complete’ application as defined by Application File Quality metric?
5 Cs, or pages 1 and 2 of the Credit Memo, complete 1003 and 9200A signed by all borrowers for FHA, Documentation to support income and assets on the 1003 & 4506-T completed and signed by all borrowers
200
Can you accept Borrower information from a Realtor/Broker?
No, don't accept 3rd party information. Always have the borrower send you the information directly and confirm that it came from the borrower. Be aware of the fax headers on documentation received via fax or internet
200
Where can I see my loans that need reason codes?
Locked pipeline in Pop Tool
300
How do you create a compliant auto-signature?
Use the Auto-signature wizard. Do not copy from a fellow team member. Do not change the font - type, size or color. Tag lines and imagery, including Wells Logos should not be used
300
The DOJ settlement requires an HMC to do what?
Enter reason codes for any loan not priced at threshold
300
When should you access Pipeline Optimization Portal or POP Tool?
Daily, to review threshold variations, rate expirations in the next 5 business days, to review loans scheduled for Pipeline Cancellation, to forecast your closing expectations for the next 30/60/90 days
300
Name 2 of the 4 Information Classifications?
Public Information, Internal Use Information, Confidential Information, and Restricted Information
300
What does a Yellow Triangle indicate in the Pricing Policy Key?
Requires Pricing Reason Documentation - Outside Allowable Limits
400
How do you monitor your doc expirations?
HMC reviews their pipeline in AOW or utilizes pipeline reports, or other reports / tools. Do not rely on others to tell you when you have docs expired
400
When and where can I input a reason code?
Day after loan is locked in the POP tool
400
What do you do when you have a customer that will not qualify for a loan?
Process as a Branch Denial. Do not send to Processing or Underwriting Q1v
400
When are you allowed to use whiteout or dryline?
Never
400
Can you use customer documents from a prior loan on a new application?
You cannot - even if the old loan is less than 90 days old. Each application requires new Documentation
500
Who do you notify if you suspect a team member has violated Code of Ethics or was engaged in fraudulent activity?
Report to the Ethics Line at 800-382-7250; or the Fraud Hotline at 800-447-9869. Do not go to your manager or other team members
500
What approval level do I need to price a loan below Threshold? Below floor?
Branch manager below Threshold. Area Manager below floor
500
In completing all daily/weekly/monthly tasks you find that it restricts the amount of applications I take, is that considered fair to me per the compensation plan?
Yes, Control is as important as volume in today's environment and in order to maintain control of what you have registered it may mean you must limit the applications you take. Follow the prefer to refer plans in place to service all customers fair and responsibly
500
Who do you report a stolen Laptop to?
Information Security
500
If we are in a market where the company is NOT mandating 90 day locks what do you have to do in order lock a loan for 90 days?
Collect an upfront Extended Lock Fee from the customer