Compliance

**500 bonus month for no failures

***First 3 months we are not finically dinged

*** Must pass 3 calls with no compliance fails to graduate =

  1. DNC list

  2. Verify Identity

    • BRW first/last name, last 4 of SSN

    • If alien they will have tax #

    • if hear other people say recorded line

    • and if someone busts in ask BRW (verbal permission) to discuss with this other person

    • if written authorization make sure to upload it into the convo log and title it as written authorization. or save and print and upload it to efolder

  3. NPPI

    • don’t disclose any of their information back to them. don’t parrot any info back

    • If married and both on the mort loan→ spouses can give permission for each other and can pull credit reports for each other.

    • If married and only one is on the application → we have to get verbal permission from the authorized user before doing anything.

  4. Quote APR correctly?

    • “Quote APR then interest rate(sales tip)”

    • we always have to quote APR when talking interest rate

    • if they ask about current mortgage we don’t have to quote APR

  5. HMDA

    • read the paragraph word for word. pull credit then go to HMDA “give questions bare with me for a moment”

    • read all options. don’t subcategorize unless they pick certain category

  6. Fraud alert procedures if applicable

    • if alert, follow the procedure and read the script it gives.

  7. Correct statement when asking about income.

    • Read VA Q correctly

    • if they need to provide more income then if they have more types of income don’t ask about specifics, keep it open ended.

    • marital status (married, unmarried, separated)

    • don’t ask about kids other than dependent age. do you have any dependents under the age of 18? → “given monitoring purposes”

  8. Complaint Procedure

    • if they complain→ production complaints. and make the notes so they know what’s going on.

  9. Recorded line

    • if hear a sound or people always just say recorded line at all times.

  10. Wrap up script read word for word

  11. Transition language

    • don’t discourage borrower from applying

    • they have 2 scripts for pre approval denial and pre application. we cant deny based off what they say verbally. we have to get actually information.

  12. “Permission to pull credit your credit report” to see what you quality for?

  13. Credit card→ must have intent to proceed selected before getting info.

  14. Proper language when asking about VA benefits

    • “I am not legally allowed to ask if you have a disability because it is a matter of discrimination”

    • if you’ve read the question many times you could ask” hey do you receive any income from the VA at all"?

  15. RESPA escrow setup script if applicable

  16. Pre disclosure attestation read verbatim

  17. Did we trigger TRID(do application right)

    • just do full application( those 6 things)

    • don’t exclude info provided by the borrower

    • if SE then immediately ask about income docs, if not this is a good stopping point but we have t have those amounts as disclosed on your tax returns. could you provide them in the next few business days.

    • we would have to reapply if we cant get those docs in the next 10 days

  18. Don’t tell people to skip a payment

    • the are actually paying prepaid interest, the payoff included unpaid interest.

    • we cant explain how it works but we cant tell them to skip a payment.

  19. ADA requests handled properly

    • if sign language, or special circumstance talk to my manager to get accommodations.

  20. Approved Early assessment script for the soft credit pull ***Purchase only

    • “Do I have your permission to pull a soft credit report for the purpose of qualifying you for a Pre-Approval?”