Loan operations

MCIF

A database containing detailed info about consumers and prospects that is used for marketing purposes is the ______

account monitoring

For ______ _____ programs, the bank runs the names of its current customers against a consumer reporting agency's files, using defined criteria to identify positive or negative trends.

debt cancellation, debt suspension

_______ ______ contracts and ______ ______ agreements incur risk, because if the event stipulate in the contract occurs, the bank must pay off the loan or assume the payments.

consumer reporting agenies

_____ are the largest providers of consumer credit information to the banking industry

simple interest

_____ is the most common method of computing the interest earned on a consumer loan

foreclosure

___ is the forced sale of real estate to satisfy a debt

capital

____ is the net value of an applicant's assets.

article 9

____ of the Uniform Commercial Code governs most loans secured by personal property.

pyramid

a credit history that shows a lot of recent activity and increased debt could indicate that the applicant has _____ debt.

attachment

a lender making a secured loan covered by the UCC first needs to create a valid ______ on the property that is to serve as collateral.

garnishment

a wage _______ requires an employer to send a certain percentage of the employee's wages directly to the bank until the debt is paid in full

finance charge

according to the Truth in Lending Act, the ______ ___ is the interest plus any other charges deemed by the act to be part of the cost of credit.

legal lending limits

bank ______ __ ______ apply to the total lending relationship with a borrowerm not just a single loan

TILA

the act that lists the type of disclosures that lenders must make in advertising programs and when a loan application is taken.

red flags

characteristics that may indicate a problem on an application are called __ ___

education

college fairs are a good place for lenders to sell these kind of loans

broader

compare to other direct loan products, marketing efforts for open-end loans can reach a ______ market area

active duty

coverae under the Servicemembers Civil Relief Act starts on the date the servicemember recieves _____ ______

court/public

credit info on judgments, bankruptcies, and liens recorded is usually obtained from ___ records

stocks, bonds

current quotes from a broker or newspaper, such as the Wall Street Journal, are a good source for verifying the value of _____ and ____.

perfect

fling a financing statement with the appropriate legal authority is one way to _____ a lien

prescreening

for ____ programs, the bank identifies minimum acceptable credit requirements and ha potential applicants evaluated against those requirements.

highest, lowest

generally, unsecured loans tend to have the _____ delinquency rates, whereas loans secured by the borrower's home tend to have the ______ delinquency rates

lifecycle

individuals and families normally follow well-defined ______ patterns

character

the C of credit called ______ addresses the kind of person the applicant is and what his or her primary behavior patterns are.

loan loss

the ______ ratio is a cost factor that represents the bank's loss experience on its consumer credit products over time

loan review

the ________ function in the loan operations department ensures insurance documentation is obtained.

debt-to-income

the applicant's nomthly debt payments related to income determines the ____ _ ____ ratio, which is a key element in measuring capacity.

charged off

the difference between gross loss and net loss is the amount recovered from consumers after the loans have been _____ __.

generate applications

the first objective of the loan application process

increases

the interest income on a closed-end consumer loan _____ as the term extends

efficient, accurate

to attain the objective of ______ and ____ document preparation, most banks use automated systems

variable rate

to recuce interest-rate risk, many banks try to maintain a portfolio of ______ loans

goodwill

when notifying a consumer that the loan request has been declined, lenders strive to retain the consumer's ________ by, for example, offering or recommending financial counseling services