Genesis Forbearance And Settlements Quiz

15 Questions | Total Attempts: 48

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Genesis Forbearance And Settlements Quiz

Questions and Answers
  • 1. 
    (Fill in the Blank) A borrower is allowed ____________ Past Due forbearance(s) every 12 months. 
  • 2. 
    (Mulitple Choice) Janet is delinquent on her Genesis Loan. Genesis has also applied a late fee to her account. Janet has applied a Past-Due Forbearance to her Genesis Account. Can her late fee be waived?
    • A. 

      Yes

    • B. 

      No

  • 3. 
    (Multiple Choice) The late fee for a Genesis Loan is $______________.
    • A. 

      $10.00

    • B. 

      $15.00

    • C. 

      $20.00

    • D. 

      $25.00

  • 4. 
    (Multiple Choice) What type of Genesis forbearance requires the borrower to have experienced a financial hardship?
    • A. 

      Past-Due Forbearance

    • B. 

      Partial Forbearance

    • C. 

      Full Forbearance

  • 5. 
    (Multiple Choice) The minimum monthly payment a Genesis borrower can make during a Partial forbearance is $___________.
    • A. 

      $10.00

    • B. 

      $15.00

    • C. 

      $20.00

    • D. 

      $25.00

  • 6. 
    (True or False) Genesis Lending offers settlements to those borrowers interested in paying their loan in full.
    • A. 

      True

    • B. 

      False

  • 7. 
    (Multiple Choice) Lori's Genesis loan is currently 120 days delinquent. Is she eligible for a Settlement offer? 
    • A. 

      Yes

    • B. 

      No

  • 8. 
    (Fill in the Blank) What does RC stand for? _______________
  • 9. 
    (Multiple Choice) Will RC borrowers be able to access their account information through the Genesis online account management system?
    • A. 

      Yes

    • B. 

      No

  • 10. 
    (True or False) RC borrowers will most likely NOT have used up their 3 forbearances.
    • A. 

      True

    • B. 

      False

  • 11. 
    (True or False) Genesis will only accept a lump sum payment from borrowers doing a settlement.
    • A. 

      True

    • B. 

      False

  • 12. 
    (Multiple Choice) Are both RC and Charge Off borrowers eligible for a settlement offer?
    • A. 

      Yes

    • B. 

      No

  • 13. 
    (Multiple Choice) Bob's Genesis loan is currently 145 days delinquent. Based on the number of days delinquent, is Bob eligible for one of the Genesis forbearances?
    • A. 

      Yes

    • B. 

      No

  • 14. 
    (Fill in the Blank) A Partial Forbearance lasts for __________________ months at a time.
  • 15. 
    (Multiple Choice) You are counseling a Genesis borrower on their options. They decide that they would like to do a settlement but they won't have any money until next week. What should you do?
    • A. 

      Transfer the call to Genesis.

    • B. 

      Schedule a call back.

    • C. 

      Thank them for their time and hang up.

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