Terms-Signing Process.pptx

Verifications New hire Training Terms/Signing Process New Hire Training Terms All terms must be stated VERBATIM, all dates in the terms need to be stated in MM/DD/YYYY format, all lines with a dollar amount need to be stated with the word “DOLLARS” and “CENTS” when necessary, and terms MUST be rea...

Verifications New hire Training Terms/Signing Process New Hire Training Terms All terms must be stated VERBATIM, all dates in the terms need to be stated in MM/DD/YYYY format, all lines with a dollar amount need to be stated with the word “DOLLARS” and “CENTS” when necessary, and terms MUST be read before the customer signs the loan agreement.  We will send the funds to your (Bank Name) bank account.  The confirmed last four of the account number is (Last Four of Bank Account Number on File).  The amount financed is (Principal Amount).  Your regular payment is only (Payment Amount).  The total payment, if you were to completely pay this loan off on your first due date of (Say Actual First Due Date) would be (First Due Date Payoff Amount). o The agent must add the interest from the first payment to the principal amount.  Your annual percentage rate is (Customer’s Loan APR). o The agent MUST state the APR as a full number followed by the word “Percent.”  Example: Seven Hundred and Ninety-Five Percent (795%).  Your first payment due date is (First Due Date).  On your first due date, we will automatically withdraw the regular payment of (Customer’s Payment Amount).  Now, if you would like to pay in full or pay down the principle on your loan, you can log into your account and schedule a payment. This must be done at least three (3) or more business days before your due date. If not, we will only debit your regular payment of (Customer’s Payment Amount), which will go towards both the principal and the interest.”  For your convenience, all ACH transactions will be by direct debit from (Portfolio Name).  If you agree to these terms, please login to your email, find the email that says, "Congratulations – Loan Terms (continued) If we already received their signature. “Okay, you are all set! Before you go, I wanted to let you know that our online portal has been upgraded with many new self-service options to make managing your account more effortless, so be sure to check it out through our website! You can even view and claim your rewards points there, which can be redeemed for gift cards or used to pay down your principal loan balance! It's our way of saying thank you for being a valued customer!” If needed, answer any questions the customer may have. “Is there anything else I can assist you with?” If so, assist the customer with any questions or assistance that’s needed. If not, “Thank you, again, for choosing (Portfolio Name). If you have any questions, please call at (Portfolio Phone Number). Your business is important to us. Have a wonderful day! If we are still waiting on their signature. “Okay, now all we are waiting on is your signature. I will check your account periodically to see if we received it. Once I do, I will get your loan processed. Before you go, I wanted to let you know that our online portal has been upgraded with many new self-service options to make managing your account more effortless, so be sure to check it out through our website! You can even view and claim your rewards points there, which can be redeemed for gift cards or used to pay down your principal loan balance! It's our way of saying thank you for being a valued customer!” If needed, answer any questions the customer may have. “Is there anything else I can assist you with?” If so, assist the customer with any questions or assistance that’s needed. If not, “Thank you, again, for choosing (Portfolio Name). If you have any questions, please call at (Portfolio Phone Number). Your business is important to us. Have a wonderful day!” THE AGENT IS REQUIRED TO STATE THE LAST 4 OF THE ACCOUNT NUMBER IN THE TERMS EVEN IF THE CUSTOMER DID NOT CONFIRM THE ACCOUNT NUMBER IS CORRECT YET VIA THE LOAN SUMMARY PAGE. Manual Payment Terms Manual payment terms must be read when the customer has opted to make their payments manually via personal check. If the customer is requesting to mail in their payments, the agent must follow the documented policy. Once Decision Logic is completed a member of management will review the Decision Logic and either approve or deny the customer. To avoid this process, the agent must offer the customer a lower APR for ACH payments. All terms must be stated VERBATIM, all dates in the terms need to be stated in MM/DD/YYYY format, all lines with a dollar amount need to be stated with the word “DOLLARS” and “CENTS” when necessary, and terms MUST be read before the customer signs the loan agreement.  So, we will send the funds to your (Bank Name) bank account.  The confirmed last four of the account number is (Last Four of Bank Account Number on File).  The amount financed is (Principal Amount).  Your regular payment is only (Payment Amount).  The total payment, if you were to completely pay this loan off on your first due date of (Say Actual First Due Date) would be (First Due Date Payoff Amount) o The agent must add the interest from the first payment to the principal amount.  Your annual percentage rate is (Customer’s Loan APR). o The agent MUST state the APR as a full number followed by the word “Percent.”  Example: Seven Hundred and Ninety-Five Percent (795%).  Your first payment due date is (First Due Date).  On your first due date, we will only require the regular payment of (Customer’s Payment Amount).  Now, if you would like to pay in full or pay down the principle on your loan, you can log into your account and schedule a payment. This must be done at least three (3) or more business days before your due date. If not, we will only require your regular payment of (Customer’s Payment Amount) which will go towards both the principal and the interest.  In addition, if you are unable to make your payments on your due date or would like to set your payments to automatically come out of your bank account, please notify us at least three (3) business days before your due date.  Since you have opted in for manual payments, it is your responsibility to send the payments on time to avoid any penalties or late fees. Please send your payments to: “Portfolio Name” Manual Payment Terms (continued) If we already received their signature. “Okay, you are all set! Before you go, I wanted to let you know that our online portal has been upgraded with many new self-service options to make managing your account more effortless, so be sure to check it out through our website! You can even view and claim your rewards points there, which can be redeemed for gift cards or used to pay down your principal loan balance! It's our way of saying thank you for being a valued customer!” If needed, answer any questions the customer may have. “Is there anything else I can assist you with?” If so, assist the customer with any questions or assistance that’s needed. If not, “Thank you, again, for choosing (Portfolio Name). If you have any questions, please call at (Portfolio Phone Number). Your business is important to us. Have a wonderful day! If we are still waiting on their signature. “Okay, now all we are waiting on is your signature. I will check your account periodically to see if we received it. Once I do, I will get your loan processed. Before you go, I wanted to let you know that our online portal has been upgraded with many new self-service options to make managing your account more effortless, so be sure to check it out through our website! You can even view and claim your rewards points there, which can be redeemed for gift cards or used to pay down your principal loan balance! It's our way of saying thank you for being a valued customer!” If needed, answer any questions the customer may have. “Is there anything else I can assist you with?” If so, assist the customer with any questions or assistance that’s needed. If not, “Thank you, again, for choosing (Portfolio Name). If you have any questions, please call at (Portfolio Phone Number). Your business is important to us. Have a wonderful day!” Promotional Terms  So, we will send the funds to your (Bank Name) bank account.  The confirmed last four of the account number is (Last Four of Bank Account Number on File).  The amount financed is (Principal Amount).  Your regular payment is only (Payment Amount)  The total payment, if you were to completely pay this loan off on your first due date of (Say Actual First Due Date) would be (First Due Date Payoff Amount). o The agent must add the interest from the first payment to the principal amount.  If you make the first (Number of Payments Before Interest Free Payments) payments successfully, with no issues or modifications, we will waive the interest on your remaining (Number of Interest Free Payments) payments. If not, the promotion will be revoked.  Your annual percentage rate is (Customer’s Loan APR). o The agent MUST state the APR as a full number followed by the word “Percent.”  Example: Seven Hundred and Ninety-Five Percent (795%).  Your first payment due date is (First Due Date).  On your first due date, we will only require the regular payment of (Customer’s Payment Amount).  Now, if you would like to pay in full or pay down the principle on your loan, you can log into your account and schedule a payment. This must be done at least three (3) or more business days before your due date. If not, we will only debit your regular payment of (Customer’s Payment Amount), which will go towards both the principal and the interest.  For your convenience, all ACH transactions will be by direct debit from (Portfolio Name).  If you agree to these terms, please login to your email, find the email that says, "Congratulations – Loan Agreement", click “Review and Sign Documents,” and sign the agreement. Promotional Terms (continued) If we already received their signature. “Okay, you are all set! Before you go, I wanted to let you know that our online portal has been upgraded with many new self-service options to make managing your account more effortless, so be sure to check it out through our website! You can even view and claim your rewards points there, which can be redeemed for gift cards or used to pay down your principal loan balance! It's our way of saying thank you for being a valued customer!” If needed, answer any questions the customer may have. “Is there anything else I can assist you with?” If so, assist the customer with any questions or assistance that’s needed. If not, “Thank you, again, for choosing (Portfolio Name). If you have any questions, please call at (Portfolio Phone Number). Your business is important to us. Have a wonderful day! If we are still waiting on their signature. “Okay, now all we are waiting on is your signature. I will check your account periodically to see if we received it. Once I do, I will get your loan processed. Before you go, I wanted to let you know that our online portal has been upgraded with many new self-service options to make managing your account more effortless, so be sure to check it out through our website! You can even view and claim your rewards points there, which can be redeemed for gift cards or used to pay down your principal loan balance! It's our way of saying thank you for being a valued customer!” If needed, answer any questions the customer may have. “Is there anything else I can assist you with?” If so, assist the customer with any questions or assistance that’s needed. If not, “Thank you, again, for choosing (Portfolio Name). If you have any questions, please call at (Portfolio Phone Number). Your business is important to us. Have a wonderful day!” Signing Process After you have asked the customer if they have access to their email with you on the phone, they will either say “YES” or “NO”. Depending on their answer is where you will read from the script. If the customer says “No.”  “I am going to send you an email titled "Congratulations – Loan Agreement". Once you open that email you will see a button at the bottom that says, “Review and Sign Loan Documents”.”  “Once you click that button, you will need to input the last four (4) of your social security number.”  “Once you have logged in, please review the loan information. If you would like to proceed, proceed by scrolling through the loan agreement until you reach a green button that says, “Proceed to Sign your Loan Agreement.” On the next page, general loan information will populate as well as a series of check boxes for you to review and acknowledge if you choose.”  “Please review your bank information at the bottom of the Loan Summary section before you check each box. It is very important that you review your bank information on the loan agreement when signing. If the information is not correct, do not sign the agreement.”  “If your banking information is not correct, please call us back to update your banking information on your account. If it is correct, and you want to move forward with this loan, you will need to review each check box and click the box if you agree (Customers that opted for manual payments will need to make sure the check box for “Payment Choice Authorization” is not checked) and type your name in the box at the bottom matching exactly we have in your loan documents. Once you do that, and you have read and understood the terms of your loan, please click on “Sign Loan Agreement.” You should get Signing Process (continued) If the customer says “Yes.”  “I am going to send you an email titled "Congratulations – Loan Agreement". Once you open that email, you will see a button at the bottom that says, “Review and Sign Documents”.”  “Once you click that button, you will need to input the last four (4) of your social security number.  “Once you have logged in, please review the loan information. If you would like to proceed, proceed by scrolling through the loan agreement until you reach a green button that says, “Proceed to Sign your Loan Agreement.” On the next page, general loan information will populate as well as a series of check boxes for you to review and acknowledge if you choose.”  “Please review your bank information at the bottom of the Loan Summary section before you check each box.”  “Is the bank information correct?”  If bank information is not correct, the agent must follow the process for updating bank information.  “If it is correct, you will need to check off each box to acknowledge these sections of your loan agreement if you agree (Customers that opted for manual payments will need to make sure the check box for “Payment Choice Authorization” is not checked) and type your name in the box at the bottomIfmatching BEWARE: exactly the customer signswhat afterwe have on manually your loan selecting theydocuments.” are in the military; the application will be “Once automatically. withdrawn you do that, and you have read and understood the terms of your loan, please click on “Sign Loan Agreement.” You should get a message saying your loan has been processed.” Please refer to Military Signing for details. If the customer is having trouble signing, please see Signature Troubleshooting. Once the agent reads terms to the customer and the customer has signed the loan agreement, the agent