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Loan Operations Vocab
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Loan Operations Vocab
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25 Questions

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

2. To recuce interest-rate risk - many banks try to maintain a portfolio of ______ loans

3. For ____ programs - the bank identifies minimum acceptable credit requirements and ha potential applicants evaluated against those requirements.

4. Characteristics that may indicate a problem on an application are called __ ___

5. Compare to other direct loan products - marketing efforts for open-end loans can reach a ______ market area

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

7. College fairs are a good place for lenders to sell these kind of loans

8. The first objective of the loan application process

9. To attain the objective of ______ and ____ document preparation - most banks use automated systems

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

11. Fling a financing statement with the appropriate legal authority is one way to _____ a lien

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

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

14. Coverae under the Servicemembers Civil Relief Act starts on the date the servicemember recieves _____ ______

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

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

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

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

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

20. _______ ______ 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.

21. Credit info on judgments - bankruptcies - and liens recorded is usually obtained from ___ records

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

23. Individuals and families normally follow well-defined ______ patterns

24. 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.

25. 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.

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