Here are some words and phrases you want to avoid. ISP and telecom companies are using technology that filters out messages with keywords they do not like. Financial – General $$$ Affordable Bargain Beneficiary Best price Big bucks Cash Cash bonus Cashcashcash Cents on the dollar Cheap Check Claims Collect […]
Recency versus Contractual Delinquency
It’s important for a lender to know which loans are performing (making payments) and which accounts are nonperforming (or stale) so the receivables are clean and accurately reflect the health of a portfolio. Simplisticly, it comes down to if a borrower is paying you or not paying you and how […]
Bank Holidays
Federal Banking Holidays: Please note, Intro XL will send payments and fundings, but your ACH provider (banks) will not process them, until the following day. New Year’s Day – January 1 Martin Luther King – 3rd Monday in January President’s Day – 3rd Monday in February Memorial Day – Last […]
Debit Card Decline Codes
Hard Codes Advised to stop attempting 04: Pick up card Pick up card, and it means that the card has been reported as lost or stolen. However, it doesn’t imply that there has been a fraudulent transaction – in most cases, it’s a decline as a result of […]
What is the “Get Current” number
The Get Current number is a calculation that runs through the remaining scheduled payments and determines what the borrower would have to pay today to make the rest of their payments and pay the loan off at maturity. Technically, it’s not a “past due” number, but rather it’s there to […]
Adverse Action Letters (Emails)
You can have Intro XL automatically send out Adverse Action emails. This option exists in your Notification Maint. A user can also manual Deny and send an adverse action letter by changing the lead status to “Deny” and selecting a reason.
Marketing Report
This page shows you how to send email and text blasts to your dormant customers and customers that are eligible for a loan refiance. Admin > Reports > Marketing Report Dormant customers are borrowers that have successfully paid off atleast one loan and does not have a loan open. Essentially, […]
Solutions By Text
The process for signing up with SBT after sign up: Set up templates with SBT customer success manager. SBT will provide templates to load templates in Intro XL. Upload current opt in’s to SBT (please note, there is compliance requirement around this, so you want to discuss with SBT). Intro […]
Intro XL – Lead Fraud Score
Better Risk Underwriting for cost effective and more intelligent lead buying. We now use the IP, email, social media and cell phone data to generate a lead score. Using exposed variables to accurately predict if a lead is more or less likely to convert due to fraud. We can identify […]
Bankruptcy Best Practices
It’s common for BK. Wallet Hub does a nice job explaining “How to File for Chapter 7 Bankruptcy: A Step-by-Step Guide“. From the lender standpoint, you want to monitor the situation, while stopping your collection efforts, which is called an automatic stay. Filing BK is not an easy task, so […]