process and resources wells fargo consumer finance program
TRANSCRIPT
Process and ResourcesWells Fargo
Consumer Finance Program
Documents
Charge Slip
Credit Application
Completion Certificate
*Required ONLY in TEXAS or on DEP *
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Submit Homeowner
Credit Application
Complete
Charge Slip
Once Installed
Get Paid!Request Funding from Wells Fargo
Processing a Finance Transaction Beginning to End
It’s Easy for both the Dealer & Homeowner.
Texas Only Completion Certificate
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Submit Homeowner
Credit Application
Complete
Charge Slip
Once Installed
Get Paid!Request Funding from Wells Fargo
Texas Only Completion Certificate
Processing Finance Transactions -Beginning to End
The 1st Step: Submit the Homeowner Credit Application
Credit Application
1. Customer Completes App: - signs & dates it.
2. Co- Applicant
3. Dealer mails p. 3 & 4
of credit application to Wells Fargo. Customer keeps all remaining pages of credit app
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Credit Application OptionsDEALER can get homeowner approvals via: Wells Internet Processing System (IPS) VRU-Phone Process (Wells Voice Response Unit)
-Must have homeowner complete, sign & date the correct paper credit application.
-Dealer must mail the credit application to Wells Fargo.
HOMEOWNER can get approved via: Dealer Website Link Dealer Locator
-Homeowner doesn’t have to complete a credit application
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Submit Homeowner
Credit Application
Complete
Charge Slip
Once Installed
Get Paid!Request Funding from Wells Fargo
Texas Only Completion Certificate
Processing Finance Transactions -Beginning to End
2nd Step: Complete the Charge Slip on all Financed Jobs…. NO EXCEPTIONS!!!!
MUST Complete a Charge Slip
on Every Transaction
Charge Slip
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Submit Homeowner
Credit Application
Complete
Charge Slip
Once Installed
Get Paid!Request Funding from Wells Fargo
Texas Only Completion Certificate
Processing Finance Transactions -Beginning to End
3rd Step: complete the Completion Certificate
Completion Certificate *Required in TEXAS or on DEP*
Customer Signs & Dates here
Dealer Completes
Dealer completes
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Submit Homeowner
Credit Application
Complete
Charge Slip
Once Installed
Get Paid!Request Funding from Wells Fargo
Texas Only Completion Certificate
Processing Finance Transactions -Beginning to End
Final Step:
Dealer Submits to Wells Fargo for FUNDING
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Some Key Points• Wells Fargo will usually ask for POI when finance request hits $12K.• Credit Line Increase – must provide homeowners annual salary• Keep Charge Slips for 7 years.
– Except for the customer credit applications. Mail those to Wells Fargo every couple weeks.
• Mail All Paper Credit Applications to Wells Fargo– Approved & Declined.
• Wells Fargo can audit transactions within 24 hours notice.• No Dealer / Company employees, owners, officers, managers.• No Rental Homes.• No Pre-Funding.• Don’t charge a separate Line Item for the Finance Fee
Blend the cost into your sales price.