Condor Securitization Trust Quiz

1.

1 point

What is the deadline to pay on a redemption account and how do you find this information?

10 days, From training guide

10- 30 days, Collateral screen

Date on NOIT letter, Collateral screen

2.

1 point

If a Condor customer is late on their payment what is the late fee?

$10

$15

Varies

$20

3.

1 point

What tab can you view the principal & interest breakdown?

Detail 1

Payment History

Comments

Detail 2

4.

1 point

If you’re unable to locate a Condor account in NLS, what does this usually mean and what 3 actions do you need to take?

Review with Supervisor, lookup account to see if it’s with CFAM/Westlake, transfer customer to correct phone number

Lookup account to see if it’s with Westlake/CFAM, transfer customer to correct phone number and mark as “misdirected call”

Review with Supervisor, lookup account to see if it’s with Westlake/CFAM, transfer customer to correct phone number

5.

1 point

Condor customers can defer their payments?

True

False

6.

1 point

If a vehicle is repossessed and the customer wants to retrieve their personal belongings, who should we direct them to?

CRG

Par

Towing company

7.

1 point

Condor customers are allowed to walk-in payments?

True

False

8.

1 point

What additional fees would you include if the borrower wanted to pay the same day the vehicle was repossessed?

$600

$641

$636

$455

9.

1 point

What is the procedure when an insurance company request a letter of guarantee?

Submit a task with the letter of guarantee

Ask for letter of guarantee

Ask for letter of guarantee, submit a task including Insurance Company Name, Contact Name, Phone number, Fax number, Claim number, Address for Title and Settlement Amount.

10.

1 point

If a borrower calls in a few days after their car has been repossessed and repo fees are already billed on the account, what extra fees to you add?

0

$641

$600

$455

11.

1 point

What is the procedure for a Pending Payoff Capture so that the title is sent to the right party?

Take down their address, name and amount

Set up a task including Collect Who, Entity Name, Entity Address and How the payment will be made

Collections Action= Pending payoff and Payoff Setup Collect Who, Entity Name, Entity Address and How the payment will be made.

None of the above

12.

1 point

Accounts over 90 days past due are required to pay using certified funds only?

True

False

13.

1 point

What is the acceptable payment method once the vehicle is repossessed?

E-check

Credit card or Debit card

Certified funds

All of the above

14.

1 point

If a vehicle is in a “repo initiated” status and the customer calls to confirm WU/MG payment – what is the process to ensure the repo is placed on hold?

Once borrow calls in stating that payment was made. The Rep must notify Sup or Team Lead to stop repo and follow up with email.

Sup should then put repo on hold in PAR. If call is received in Baja, Sups in Baja must call and have a SD Sup place the repo on hold.

Once borrower calls in with (Ref# or MTCN payment must be verified by management) the Rep must notify Sup or Team Lead to stop repo and follow up with email. Collateral Management will also be responsible to update PAR and remove status if missed by the Sups or Team Leads.

None of the above

15.

1 point

We are required to send out a RTC letter to every Condor customer:

True

False

16.

1 point

How many days past due before the repossession process is initiated?

60 days

90 days

120 days

17.

1 point

If the vehicle is repossessed the storage charges could accrue daily until the vehicle is released?

True

False

18.

1 point

After the payment has been posted to the account including current due and repo fees via certified funds Rep should advise how much time before the vehicle will be released?

48 hours before contacting Par

72 hours before contacting Par

3 business days before contacting Par

19.

1 point

Condor statements are generated using what method?

Mail

Email

Web Portal

20.

1 point

How do you calculate the payment required when the account is in a “Repo Initiated” status?

Process a payment to cover the Current Due Balance

Check to see if the vehicle has been repo'd and then quote based on that info.

Process a payment to cover the Past Due Balance