HELOC easy app
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
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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