Genesis Forbearance And Settlements Quiz
15 Questions
| Total Attempts: 48
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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