Keeping thing simple Auto Loan Modification. Rhombus Auto Loan Modification One simple solution to...

Keeping thing simple

Auto Loan Modification

Rhombus Auto Loan Modification One simple solution to avoid

Repossession

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Auto Loan Modification???

• Auto loan modification is a broad term used to describe any change to your car

loan contract. Most people who seek modification do so because they believe they

can gain a more favorable contract the second time through than the first. Others can

no longer afford their loan at the current agreement. In either case, modification is

not an easy process, and it is not always possible


Scope of Auto Mods….

• With the current economic difficulties, auto / vehicle finance companies

are experiencing an increase in late payments as well as repossession.

• Just like the mortgage industry, auto financing companies becoming

more aware of the consumers hardship and are starting to work with

them in modifying car notes. Why stop at mortgage loan modification

when you have to opportunity to lower and/or modify your customer’s

automobile payments as well? In some cases auto loan modification may

even benefit mortgage modification clients by reducing the debt to

income ratio and increasing disposable income.


Why Rhombus ?• Trained & Experienced staff

• Processing Team includes MBA’S, Engineers, and Master’s in Banking etc.

• Thousands of Loans already modified

• Many satisfied clients with prompt and fast approvals

• Tenured Finance Professionals

• Every file has detailed case research analysis

• Access Live updates on the CRM 24/7

• Quick Turn around Time

• Save your money on staffing expenses


Documents you need to provide us. • Hardship Letter

• Borrowers Authorization

• Paystubs

• W2’S / 1040’S

• List of Monthly expenses

• Bank Statements

• Copy of drivers License

• Copy of insurance policy for the vehicle

• Loan Statement for the vehicle

• Note:- {we can also contact the customer directly on your behalf to collect

missing docs.}05

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Reports generated by us.


Our Proposal


Model Pricing Reports


Underwriting & Income Calculation


DTI & Disposal calculation Analysis


Stage 2


• Income Summary

• Debt Ratio Analysis

• Affordability Analysis

• Asset Summary

• Hardship Description

• Verification of Income

• Establish Loan Scenario vs. Proposed Modification Terms.

• Record all the timely updates on the CRM

• Submit completed package to Lender as required.

Closing Function Stage 3

• Verification of Vehicle Loan Modification terms against offer made by Investor.

• Schedule of vehicle loan modification execution with Notary, (as required).

• Filing / confirming lender boarding of vehicle loan modification terms.


Stage 2 (con)

• Reply and respond to additional information request

• Follow ups on submissions

• Received and Convey modification terms to the client or customer.

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Contact Us

Rhombus Technologies Inc.

82-36, 259th St., Floral Park, New York, 11004

Contact Person: Rekha Singh (Rebecca)Tel: 1-877-869-7950Fax: 1-800-309-6316Email: [email protected]: www.rhombustechnologies.com


Keeping thing simple

Rhombus Technologies Pvt.Ltd.601,Dhanthak Plaza,Makwana Road,Marol .Andheri(East),Mumbai 59 | T: +91 22 2850 1416 | F:+91 22 6692 660082_36 259 St Floral Park NY 11004 | T:866-833-6840 | F: 800-579-4118z

Keeping thing simple Auto Loan Modification. Rhombus Auto Loan Modification One simple solution to...

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