The Road to SuccessWednesday July 31, 2013

Operations Tune-up Part II• Bankruptcy Modifications• Insurance Filing Processes• Lien Perfection Processes• June Programmatic Processes Review

• Deferrals, Payments, ACH, and Communication protocols with loan servicing

The Final Road to Institute• Important dates to remember • Winning Criteria / Institute Leaderboard• Program Content / Steering Committee Efforts• Yadda, Yadda, Lotta Pallotta (Dan that is)

Webinar Wednesday

Operations “Tune Up”- Part IIBankruptcy Modifications, Insurance, & Lien Processes

Is your Program on the

Road to Success?

Are you going to win

an award in

September?

Webinar TakeawaysAt the end of this webinar, you will know how to handle…

Bankruptcy filingso What to do when national notifies you that a client has filedo How to initiate a conversation with the client as to their intentionso Steps on processing the modification

Insurance Procedureso Closing Process- Ensuring your agency is identified as 2nd loss payeeo Handling “total loss” claimso Processing repair claim checks

Liens & Titlingo Closing process- Notice to Dealer documento Paid in full- Lien Release Processo Buyback- Titling procedures

Bankruptcy Filings

Chapter 13- Client includes partial debt in filing

Chapter 7- Client includes ALL debt in filing

Chapter 11- Client includes ALL debt in filing who operates a business as a sole proprietor

Three main bankruptcy filings by clients; Of the three, you will see Chapter 13 the majority of the time

Remembering the Ways to Work Mission

Pros to being proactive

o Assisting clients in retaining ownership of their vehicles by

lowering their monthly

payments

o Fulfilling your case management obligations

o Carrying out the mission of moving working families along the path to self-sufficiency

Cons of not being proactive

o The client’s loan eventually being in a buyback status from all of the partial bankruptcy trustee payments

o You lose all contact with the client depending on how long the bankruptcy lasts

o The client develops lack of trust that our program is designed to assist them in their path to self-sufficiency

When The Bankruptcy Notifications Are Received

Depending on the state in which you conduct business, you are allowed to contact the client to begin a conversation about their intentions regarding their existing loan

* You will receive this confirmation with the email notification

Steps for determining a modification1. Gain a clear understanding what

payment is realistic based on client situation

2. Explain to them that the purpose of the modification is to extend the term of the loan to lower the monthly payment

3. Notify Internal Operations Manager of verbal agreement

4. Loan Processor will create loan new docs to establish restructured loan

5. Request a closing for client to sign updated loan documents

Win/Win Situation

Insurance Filing Procedures

o The closing process is your 1st line of defense in maintaining up to date insurance policy records for all clients

oEnsure that your agency is listed as 2nd loss payee on all vehicles within 30 days of closing

NOTICE TO INSURANCE AGENCY Date: Please record the first loss payee on the following vehicle to:

Ways to Work, Inc. P.O. Box 5920 Madison, WI 53705-0920

Please record the 2nd loss payee on the following vehicle to:

<<Agency Name>> <<Agency Address>> <<Lien #>>

Vehicle Description

Buyer Information Name Home Phone Address/City/State/Zip

Co-Buyer Information Name Home Phone Address/City/State/Zip LOAN OFFICER: Send this form to the national office within 30 days of closing. BORROWER: Give this form to your insurance agent to complete upon securing a policy.

Year

Make

Model

VIN#

****New Form ****

What To Do When Incidents Happen

o Inquire as much about the incident that you can

o Obtain the claim specialists contact information from the insurance company handling the claim

o Once all information is obtained, refer the claim specialist to the national office administrative assistant

When the Vehicle Requires Repairs

o The insurance company will cut the claim check in the amount of the estimated damages

o The check will be made out to Pay to the Order of:• Client name and• Ways to Work or Agency Name

o If the check is sent to your agency directly, have the client sign it, then forward it to the national office for VP endorsement if made out to Ways to Work

o If the check is sent to the client directly, and made out to Ways to Work, instruct them mail it to the national office for VP endorsement

When the Vehicle is a Total Losso The insurance company will cut the claim check in the amount of the

estimated total loss

o The check will be made to Pay to the Order of: Ways to Work

o If there is a loan balance over $200 after the insurance proceeds post, the agency must pay the balance within 14 days of the funds posting

o The agency will then seek the remaining balance from the client

o This procedure will ensure that the client is not assessed doragatory marks on their credit history

Lien Procedureso The closing process is

your 1st line of defense in maintaining correct lienholder records for all clients

oEnsure that your agency is listed as 2nd lienholder on all vehicles at the time of closing

NOTICE TO DEALER Date: Please record the first lien on the following vehicle to:

Ways to Work, Inc. P.O. Box 5920 Madison, WI 53705-0920

Please record the second lien on the following vehicle to:

<<Agency Name>> <<Agency Address>> <<Lien #>>

Vehicle Description

Buyer Information Name Home Phone Address/City/State/Zip

Co-Buyer Information Name Home Phone Address/City/State/Zip LOAN OFFICER: Give this form and the letter of credit or disbursement check to the borrower. BORROWER: Give this form and the letter of credit or disbursement check to the dealer.

Year

Make

Model

VIN#

Loan Payoff- Lien Release Processo Obtain a ten-day payoff for

your client via GreenLight

o Advise to mail all payoffs to:Ways to WorkAttn: Loan ServicingPO Box 5920Madison, WI 53705

o The lien release and title disbursement will take place 10 business days from the day the payoff funds are posted

Agency Buyback- Lien Processo Obtain a ten-day payoff for the loan

balance via GreenLight

o Mail all buyback funds to:Ways to WorkAttn: Carolyn Jelinski11700 W. Lake Park Dr.Milwaukee, WI 53224

o The lien release and title disbursement will be overnighted next day to the agency from the day the payoff funds are posted via UPS

Depending on how your state files titles, you may not receive a physical title

Win/Win Situation

Which Road Will You Take to Institute Success?

Important Dates to Remember:

Hotel Cutoff -August 18

Registration Cutoff – September 11

Which Road Will You Take to Institute Success?

Loan Volume Quantity + Portfolio Quality = Grant Awards

THE WINNING FORMULA:

Which Road Will You Take to Institute Success?

The Leaderboard:Chicago LCFS – 109

Lynchburg – 106Winston-Salem – 55

Chicago Salv. Army – 50Richmond – 46

San Antonio – 43Portland - 41

BE CAREFUL WHAT YOU ASK FOR, BECAUSE HERE IT COMES

This year’s Institute will include:

Panel Presentations

More small group discussion opportunities

Functional Discussions on technology, the WtW Remodeling Efforts, and Fundraising

Practical solutions and tools that can be immediately implemented

Yadda, Yadda, alotta Pallotta – Dan that is!

THIS YEAR’S INSTITUTE WILL INCLUDE HOMEWORK:

View the Dan Pallotta TED TALK

Develop quality elevator speeches

Preparation for Improving your WtW Grade

READY, SET, GO!!!!

GET ON THE ROAD TO SUCCESS