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2 Week Loan
Underwriting/Subprime Finance Course Includes:
Curriculum
Highlights:
MODULE 3
PROFESSIONAL FINANCE AND INSURANCE (F&I)
DEPARTMENT MANAGEMENT
Section 1: The Finance & Insurance Manager
A complete overview of the F&I manager
position and job responsibilities. F &
I's Role in the dealership, general policies
for F&I, job descriptions, basic computer
operations utilizing Advent's F&I software
program.
Section 2: Finance Contracts
A complete overview of how interest, payments,
payoffs, and reserve income are calculated,
interest and calculations, add-on and add-on
conversion charts, calculating payments, Rule
of 78, Simple Interest, payoffs, reserve income,
rate caps, and buy downs
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Section 3: Legal Compliance
A complete overview of the rules, regulations, and
laws that govern vehicle transactions, federal truth
in lending disclosures, Spanish language disclosures,
Equal Credit Opportunity Act, Magnusson-Moss Warranty
Act, IRS Cash Reporting Rules, the Patriot Act, ethics,
DMV and taxes, the Contract, forms, administration,
logs, reports, forecasting, money control, the California
Car Buyers Bill of Rights, and Association of Finance
and Insurance Professionals Certification.
Section 4: Credit Approvals
A complete overview of the credit application, credit
bureaus and reports, loan submission and lender relations,
credit applications, credit bureaus, portfolio spread,
submitting loan application to lenders, and handling
qualified approvals and rejects.
Section 5: Credit Approvals
A complete overview of deal structuring, lender s
rates and guidelines, and advance calculations. Lender
relations, honesty, integrity, reputation, review
of rate sheets, review of invoices and book sheets,
explanation of advance, consumer rate report, deal
structuring, ABC Level Identifying, working with lenders,
working actual deals, and practice deals.
MODULE 4
PROFESSIONAL SUB-PRIME (SPECIAL FINANCE) DEPARTMENT
MANAGEMENT
Section 1: Finance & Insurance Sub-prime
An introduction to sub-prime finance, substandard
finance guidelines, definitions, structure, terms,
customer profile, budget, debt ratio, discretionary
income, debt payment calculations, advance levels,
transmittal of applications to the lender, type of
decisions received from the lender, and deal flow
within the lender.
Section 2: Finance & Insurance Sub-prime
A complete overview of sub-prime lender rates and
guidelines, deal structuring and budgeting guidelines,
credit bureaus, merging credit bureaus, scoring credit
bureaus, budgeting from credit bureaus, income calculations,
determining gross and net income from pay stubs, working
with real pay stubs, and structuring and budgeting
deals.
Section 3: Finance & Insurance Sub-prime
A complete overview of Credit Bureau budgeting and
merging of bureaus and deal structuring, computer
operation, inputting deals, structuring and budgeting
deals practice, advance calculations, down payment,
dealer profit, and income calculations.
Section 4: Finance & Insurance Sub-prime Continuation
Of Credit Bureau budgeting practice, merging of bureaus
and calculating gross and net income from pay stubs,
prospecting and handling phone calls, customer placement,
interviewing and guiding a customer, practice deals,
selecting the right vehicles from inventory, funding,
packaging deals for substandard finance funding, determining
gross and net income from pay stubs, and working with
real pay stubs practice.
Section 5: Finance & Insurance Sub-prime
A complete overview of Underwriter s qualifying procedures,
Special Finance Department business plan proposal,
looking at deals from the lender s point of view,
understanding the lender s loan processing flow, loan
processing procedures, advance structure calculations,
and lenders credit applications and credit bureaus.
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