HELOC easy app

Create an image of a professional office setting with a person on the phone discussing a HELOC application, depicting elements like documents, a computer, and a calm workspace atmosphere.

HELOC Application Quiz

Test your knowledge on the Home Equity Line of Credit (HELOC) application process. This quiz will help ensure you understand the essential steps involved in processing HELOC applications effectively.

9 Multiple Choice Questions
Assess your understanding of HELOC procedures
Improve your customer interactions

9 Questions2 MinutesCreated by ApplyingExpert247

How do we ensure a customer is wiling to have their credit pulled?

They verbally agree to the application question

They ask to apply for a HELOC

The customer does not have to do anything specific to do anything specific to agree

They read over the application on their own time and agree

If a customer applies over the phone, what must you do?

Read them the applicant question and ensure they agree

Use a Hometrust bank telephone to make the call

None of these

All of these

What can delay closing?

Not knowing soon enough the borower will be using a POA

Not knowing soon enough the property is titled in the name of a trust

None of these

All of these

Once you pull credit and save, the next step is:

Receive a decision

Nothing; You're all done!

Continue to docs

None of these

If an application is instant declined, the next step is:

Nothing; You're done!

Add contacts

Sign docs

Send to an underwriter

If an application is instant approved, the next step is:

Fill in the primary ID section

Send to an underwriter

Order an appraisal

Nothing; You're done!

If an application is pending, the next step is:

Select a product

Nothing; You're done!

Send to an underwriter

Let the customer know you will be in touch

When adding contacts, you must select ___________ even if this doesn't accurately define the contact's profession:

Lawyer

Landlord

Reference

Buyer's Attorney

Which reference material can help you ensure you've completed all the steps?

MeridianLink Checklist

Page 45 of the manual

All of these

Other

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