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WorksheetsSellfi Quiz
Total questions: 60
Worksheet time: 34mins
How many Digits are in Account Numbers
14
10
7
21
What does Sellfi stand for?
Loancare
Seller Finance
Pictures
Selling Property
Seler Finance reports to the Credit Brueau
Yes
Every Month
Never
Twice a week
How is Interest Calculated?
Ahead
Current
A Month Behind
In Arrears
How can a Customer make a Payment
Online
Western Union
Cashapp
Paypal
What Tasks can we open?
Supervisor Callback
Help Me Please
Follow-up
Research-Required
What City is Sellfi's Main Office in?
Chandler, AZ
Virgina Beach, VA
New York, NY
Sue Saint Marie, Canada
A Customer never needs to submit a written request.
100% Correct
True
False
Maybe?
Who is the owner of the property
The Payor
The Owner
Loancare
The Title Company
Can Loancare waive Late Charges?
Yes
Of course always
No
Once a Year
Who gets the 1098 Statement
The IRS
The Payor
The Owner
The Local County
How long does a Payor have to payback a NSF payment
1 Year
Whenever They Want
7 Days
30 Days
Who Decides the Due Date
Only the Payor
The Title Compan
Loancare
Both the Owner and the Payor
Seller Finance services Traditional Mortgages
True
False
What are Sellfi's Hours
11am to 8pm
9pm to 4am
10am to 7pm
What Tab Allows your to Look up Accounts
My Tasks
Loan Information
Maintnance
What tab will you find Payments in
Payment History
Disbursement History
Impounds
Loan Information
Where do you go to Document your call?
Notes & Alerts
Loan Details
Loan Reports
Teams
How does a Payor set up Auto Draft
Over the Phone
Online
Written Request
Telepathicly
Can we give the Payors contact information to the Owner
Yes
No
Yes, With Permission
Are you Enjoying Sellfi Training
Yes
Not the Whole Time
Somewhat
Could be more Interesting
If Taxes and Insurance are due at the same time and we only have enough for 1 which do we pay?
Taxes
Insurance
None of them
All accounts have the same Grace period
True
False
Which of these can you find in Loan Details
Interest Rate
Late Charges
Payment History
Nothing Useful
How long must an Owner wait after the Payor is Late to send a 10 Day Demand Letter?
1 Month
Same day They are over the Grace Period
They can Never send one
Anytime after thier late
How soon can someone expect a Payoff after requesting one
Same day
5 weeks
1 month
3 to 5 days
What Pieces of information are used for verification
Account Number
SSN/EIN
Phone Number
Mailing Address
Do you Like Cats or Dogs
Cats
Dogs
Does Seller Finance offer Refinancing?
True
False
If we don't offer a ReFi what options does a customer have?
Seek a Modification
They are out of Luck
Seeking another lending Insitution
How can a Payor or Owner change their mailing address
By Email
Over the Phone
By Pigeon Carrier
By Fax
Where can you find out how we send Funds to the Owner
Disbursement History
Notes & Alerts
Disbursement Setup
Document Management
Which are the correct ways to make a payment
Over the phone with an Agent
Check in the Mail
Wire Transfer
Online
What State are the majority of our Loans located in
Arizona
Kentucky
Texas
Ohio
What is the Principal Balance on an Exact Wrap?
No Principal Balance
What the Property sold for
Enough for the Owner to get a Profit
What screen do we use to make One-Time Payments
ACH Payment Setup
Payment History
Disbursement History
Citrix
What info can be found in the Impounds Tab in Sellfi
Name of County and Insurance company
Amounts owed for Taxes
Monthly Payment Amount
Customer Contact Information
What happens to a payment over 5k that is not certified funds
Sent to the Owner Same Day
Held for 10 Bussines Days
Returned back to the customer
Held for 2 Days
When a Payment is made through Direct Deposit to our Wells Fargo Account, What must the customer do next?
Go home and do nothing
Send Loancare the Receipt
Go on a Vacation
Which of the steps below are correct for a payment made outside of servicing?
The Payor must submit proof of Paymnt
Nothing would need to be done
Contact the Owner to confirm the pament
Does Loancare offer Mortgage Assistance to Seller Finance Accounts?
Yes
No
Can Payors request assistance from the Owners on the account?
No
Yes
Which Dessert do you prefer the most
Cheesecake
Apple Pie
Ice Cream
Brownies
Which person sold the property
The Payor
The Owner
The Title Company
The State
True or False: Additional Principal Payments Reduce the amount of Interest paid
True
False
What Happens on a Payoff if the good through date asked for Falls on a Weekend
We keep it the same date
It is moved to the following Business day
It is moved to the previous Business Day
The Payoff cannot be completed
When Third Parties make requests on accounts do they need authorization?
Yes
No
What do we Verify if the Payor/Owner is Listed as a Company
The Full Company Name
the EIN
Nothing to Verify
Name of the Owner of the company
Does the Payor need to be Current on Monthly Payments to make a Principal Only Payment
Yes
No
Will Sellfi Pay Taxes if there is not enough in Impounds
Yes Always
No only if there is enough
Why would we not
Coke or Pepsi which is better
Coke
Pepesi
What is the first step of requesting a Modification
Submitting a written request with what they want changed
Calling us on the phone
Calling thier local supermarket
Calling their Mom for help
Who Receives the 1099 Tax Form
The Payor
The Title Company
The Owner
Loancare
What is the Term used when there is a Loan that has an underlying tradition mortgage?
A Wrap Loan
A Standard Mortgage
Double Double
Owner Carryback
How long does it take for the ACH Direct Deposit to get to the Owner
24 to 72 Hours
5 Days
7 days
1 month
Who can waive late charges on an account?
Loancare
The Owner
The Payor
The Magic 8 Ball
Does Loancare complete the Default process for Owners?
Yes
No
We only make recommendations
Can an owner remove the loan from servicing without the payor approval
Yes only if a bad payment history
No if there is a good payment history
The owner can do whatever they want
The payor never has a say so in this decision
Where would you find how much the late charges would be if late?
Loan Deatils
Payment History
Loan Reports
Document Management
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