Terminology Stipulations Document Review Partners Jerry People
100
What is Loan to Value Ratio (LTV)
This term is a measure of risk used by lenders to mitigate loss in the event of total loss
100
What is a Driver's License
This stipulation is a legal authorization for a person to drive a vehicle.
100
What is April
This month is the start of the period where an agent will used the year to date calculation on a paystub
100
What is First Investors (FIFS)
This partner is our lender for launch
100
Who is Andrew
This person is Dillon's Co-Manager for Auto Refi Operations
200
What is Credit Score (FICO)
This term is a Prediction of how likely a consumer is to pay back on any lines of credit extended to the customer. This takes into account the following factors: payment history, number of open accounts, total levels of debt and others.
200
What is a Title
This stipulation is proof of ownership as well as additional interests in a vehicle.
200
What is 1.25 (25%)
This is the factor we an agent can gross up a benefit amount
200
What is PenFed
This future partner may be our next lender and is in active talks with leadership
200
Who is Leslie
This person is the Product Manager for Auto Refi
300
What is Per Diem.
This Latin term is the amount of interest accrued daily on a simple interest loan.
300
What is a Proof of Income
This stipulation is a document such as a pay stub or tax return that shows the current earnings of an applicant.
300
What are Declarations Page and Binder
These documents are the 2 acceptable forms for verifying proof of insurance
300
(TRICK QUESTION/DOUBLE POINTS) What is Nobody
This partner is Auto Refi's external marketing partner
300
Who is Jason
This person is the Head of Technology for Auto Refi
400
What is Electronic Lien and Title (ELT)
This term is a system used by states to electronically change title information such as lienholders.
400
What is a Proof of Residence
This stipulation is a document that can verify the home address of an applicant.
400
What are Mortgage Statement, Utility/Phone Bill, Insurance Card
These documents are the supplemental forms of proof of residence for FIFS. (at least 2)
400
What is Transunion
This partner is providing us with the FIFS custom score
400
Who is Lynda
This person is in charge of refi operations and describes herself as a wrangler
500
What is Loan to Income Ratio (LTI)
This term is an uncommon hard cut used by lenders to measure a consumer's ability to pay for a loan on a particular vehicle and is also based on annual income
500
What is a Registration
This stipulation is a document that proves ownership of a vehicle as well as verifies any relevant taxes or fees have been paid.
500
What is Debt to Income Ratio (DTI)
Garnishments, 401k Loans, Child Support Deductions, and allotments are added to this hard cut calculation
500
What is Omega
This partner is our current GAP and VSC provider
500
Who is Art
This person is the CEO of Jerry






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