CAL ALIFORNIA C A CAP APITAL AL A ACCESS PR PROG OGRAM Lender - - PowerPoint PPT Presentation
CAL ALIFORNIA C A CAP APITAL AL A ACCESS PR PROG OGRAM Lender Roundtable Webinar: 12/17/2015 PROGRAM STATISTICS AND NEW PROGRAM UPDATES Curre rrent Programs: SSBC BCI Pr Progr grams ARB O AR B On-Road ad H Hea eavy Duty Veh
Curre rrent Programs:
BCI Pr Progr grams
ARB O B On-Road ad H Hea eavy Duty Veh ehicle Pr e Progr gram am Ne New Pr w Progr gram ams:
ric Vehicle Charg rging Station (EVCS)
AB 1230 Amer Americans wi with Disab abilities Act Financing Pr g Progr gram am
ubmission d deadline
Certification mus ust be signed b by all pa parties t to the loan
n amount unt s stated on n the Ca CalCA CAP enr nrollment appl pplication mus ust m match actua ual lend nder l loan a n amoun unt
Compl plete a all f fields o
n the appl pplication
Conf nfirm t that the b bus usiness is eligible and nd t that t the borrower h has a license t to d do busi siness ss
Conf nfirm that loan n pr proceeds will b be us used for a an n eligible bus usiness pur purpose
application mu must b be signed b by y a representative listed on
Lender’s Aut uthorized S Signers L List
201 014:
20 lender re r reports co complete
for
sponse se on
repor
ne repo port s still ll being ng f fina nalized
s will b be un-enr nrolle lled f from m the P Program 201 015:
recently c con
site v visi sits – repor
s in proc
s con
that lenders a are op
within t the guidelines se s set by Treasury
mon d n discrepa panc ncy – Not a all p parties s to t
signed the Borr rrower’ r’s Certific icatio ion
loa
file sh should i include v verification that t the bor
has s a busi siness l s license and that loa
proc
s will b be use sed f for
busi siness purpose se
A A par articipat ating f g finan ancial al i institution s shal all b be e au authorized ed to mak make e a a clai aim for reimbursement o
a loss f from the e enr nrolled po portion o
a qua ualified loan pr n prior t to t the li liquidation o
colla lateral:
nder s should f follow i its own n us usual and nd cus ustomary l liquidation and nd r recovery e efforts
ut of po pocket expe penses should b be those t that y you w u woul uld inc ncur even i n if y you w u woul uld not b be reimb mbursed for
it
CalCA CAP w will no not reimburse for no non-sufficient funds fees or
fees
nders should be pr prudent in c n collection e efforts and nd expe penditures w when s n selecting third-party vend ndors
ure t there i is no no po potential c conf nflict of interest or pe perception of fraud, w waste or abu buse
CalCA CAP w will pa pay up up to 100% of charged off a amount unt (or original e enr nrolled amoun unt, whiche hever r is less) provided there is e enou
ur loa
reserve accoun unt.
lCAP w will ll pay accrued ed, u unpaid intere rest (from the e dat ate e inter erest las ast p pai aid thr hrough the he c cha harge o
te) not to
enrol
unt.
alCAP wi AP will p pay reas easonab able e out ut-of
penses when n accomp mpanied b by a paid receipt, a above and beyon
principal and interest, e even if it exceeds the original l enrolle led amoun unt, unl unless the l liquidated col
the
nding ng princ ncipal.
1. What caused the loan to default 2. Collection/liquidation of collateral activity (if any)
3. Dates that the loan went into default and was charged off
Note: You must certify to continue to pursue additional recoveries through legal proceedings, guarantees, and/or other sources. This means you must continue with your normal collection process.
CalCAP ID, CalCAP #, Borrower’s name, and Borrower DBA required Original Principal = amount enrolled in Program Default Amount = amount remaining on loan prior to liquidation of collateral Date of loan must match the enrollment application Date of Default = Date that loan went bad Name, phone number, and address of lender representative CalCAP can contact with questions about this claim.
Default amount minus amount received from liquidated collateral Calculations starting day after LAST ST interest payment was made Reasonable out-of- pocket expenses
EXAMP MPLE LE: Borrower G Guy B
cker r came to WeFinance ceTru ruck cks i in August o
lookin king to to purchase a a tru ruck ck t to haul p paper for r his re recy cycl cling b
. WeFinance ceTru rucks s sold G Guy B B. . Tru rucker a r a 2013 13 Detroi
sel on
st 2 21, 2013 13 and financed $ $65,000.00. ,000.00. Guy B
cker m r made cons nsistent t time mely ly pa payme ments f for the rema mainder of 201 013 and t throughout 2 2014
in Jan anuar ary o
5, Guy B. Truck cker c contact cted W WeFinance ceTru ruck cks to inform u us that h he had brok
his l s leg. As As a resu sult, h he wou
no l
be able to
and con
making payments o
. WeFinance ceTru rucks t tri ried to work w with Mr Mr. . Tru rucker t r to ensure re his l loan would b be paid, b but were re unsucce
. On Ma March ch 2, 2, WeFinanceTrucks re repossessed Mr Mr. . Trucker’s 2 2013 D Detroi
sel and c d charge ged-off his l loan an with a a rem emai aining p principal al bal balan ance
$45,000.00. O ,000.00. On A April 1, 1, the t truck was s sold at auction f for $ $30, 0,000 000.00.
a result, the remaining $ $15,000.00 000.00 and o d out-of-pocket exp xpense ses a s are being r g requested f d from Ca CalCA CAP. . WeFinance ceTru rucks i incu curre rred $500 $500.00 i in admin co costs, $500 $500.00 i in co collect ction f fees, , $1 $1,2 ,250.0 .00 for r repairs, , and $ $250.00 i 0.00 in d detailing charges t totaling $2,500.00 500.00 in o
expenses.
Date Transaction Total Principal Interest Total Principal Balance 8/ 21/ 2013 Loan Funding $ 65,000.00 $ 65,000.00 10/ 1/ 2013 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 63,750.00 11/ 1/ 2013 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 62,500.00 12/ 1/ 2013 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 61,250.00 1/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 60,000.00 2/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 58,750.00 3/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 57,500.00 4/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 56,250.00 5/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 55,000.00 6/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 53,750.00 7/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 52,500.00 8/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 51,250.00 9/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 50,000.00 10/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 48,750.00 11/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 47,500.00 12/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 46,250.00 1/ 1/ 2015 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 45,000.00 3/ 2/ 2015 Charge off $ 45,000.00 $ (45,000.00) 4/ 1/ 2015 Sale of Proceeds $ 30,000.00 To tal Prin cipal Outstan din g $ 15,0 0 0 .0 0
If e expe penses a are b being ng reque uested o
n a claim appl pplication, pr proof of the o
ut-of-po pock cket t expe penses mus ust b be inc
Proof inc ncludes, but ut is no not l limited to:
From To Total Accrued and Unpaid Interest Out of Pocket expenses 100% CalCAP #: Time Period No. Days Rate Principal Balance Daily Rate Interest Accrued Lender Loan #: Borrower: Total Loan Amount Enrolled amount % of interest and expenses paid Outstanding Principal or enrolled amount (whichever is less) * The sum of the Outstanding Principal and Accrued and Unpaid Interest may not exceed the Enrolled Loan Amount. Collateral Received 01/02/2015 03/02/2015 59 12.00% $45,000.00 $14.79 $872.88 $65,000.00 $65,000.00 $30,000.00 100% $15,000.00 $872.88 $2,500.00 $18,372.88
Original loan amount = amount enrolled into CalCAP Default amount = remaining balance prior to liquidation of collateral Date of loan must match loan enrollment Date of default = date loan went bad Date of Charge-off = date lender is writing off loan Outstanding principal = Default amount minus the amount received from liquidated collateral Interested amount calculated from day after last interest payment to charge-
Amount expensed during the recovery and/or sell process
EXAMP MPLE LE: Borrower G Guy B
cker r came to WeFinance ceTru ruck cks i in August o
013 lookin king t to purchase a tru ruck ck t to haul p paper for r his re recy cycl cling b
. WeFinance ceTru rucks s sold G Guy B B. . Tru rucker a r a 2013 13 Detroi
sel on
st 2 21, 2013 13 and financed $ $65,000.00. ,000.00. Guy B
cker m r made cons nsistent t time mely ly pa payme ments f for the rema mainder of 2013 a 13 and throughout 2014
in Jan anuar ary o
5, Guy B. Truck cker c contact cted W WeFinance ceTru ruck cks to inform u us that h he had brok
his l s leg. As As a resu sult, h he wou
no l
be able to
and con
making payments o
. WeFinance ceTru rucks t tri ried to work w with Mr Mr. . Tru rucker t r to ensure re his l loan would b be paid, b but were re unsucce
. On Ma March ch 2, 2, WeFinanceTrucks re repossessed Mr Mr. . Trucker’s 2 2013 D Detroi
sel and c d charge ged-off his l loan an with a a rem emai aining p principal al bal balan ance
$45,000.00. ,000.00. On A Apri ril 1, , the t tru ruck ck was s sold at auct ction f for $30 r $30,0 ,000.0 .00. As As a resu sult, t the remaini ning ng $15,000.00 000.00 and o d out-of-pocket exp xpense ses a s are being r g requested f d from Ca CalCA CAP. . WeFinance ceTru rucks i incu curre rred $500 $500.00 i in admin co costs, $500 $500.00 i in co collect ction f fees, , $1 $1,2 ,250.0 .00 for r repairs, , and $ $250.00 i 0.00 in d detailing charges t totaling $2,500.00 500.00 in o
expenses.
Date Transaction Total Principal Interest Total Principal Balance 8/ 21/ 2013 Loan Funding $ 65,000.00 $ 65,000.00 10/ 1/ 2013 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 63,750.00 11/ 1/ 2013 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 62,500.00 12/ 1/ 2013 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 61,250.00 1/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 60,000.00 2/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 58,750.00 3/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 57,500.00 4/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 56,250.00 5/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 55,000.00 6/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 53,750.00 7/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 52,500.00 8/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 51,250.00 9/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 50,000.00 10/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 48,750.00 11/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 47,500.00 12/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 46,250.00 1/ 1/ 2015 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 45,000.00 3/ 2/ 2015 Charge off $ 45,000.00 $ (45,000.00) 4/ 1/ 2015 Sale of Proceeds $ 30,000.00 To tal Prin cipal Outstan din g $ 15,0 0 0 .0 0
From To Total Accrued and Unpaid Interest Out of Pocket expenses 100% CalCAP #: Time Period No. Days Rate Principal Balance Daily Rate Interest Accrued Lender Loan #: Borrower: Total Loan Amount Enrolled amount % of interest and expenses paid Outstanding Principal or enrolled amount (whichever is less) * The sum of the Outstanding Principal and Accrued and Unpaid Interest may not exceed the Enrolled Loan Amount. Collateral Received 01/02/2015 03/02/2015 59 12.00% $45,000.00 $14.79 $872.88 $65,000.00 $65,000.00 $30,000.00 100% $15,000.00 $872.88 $2,500.00 $18,372.88
GUYB1234 Guy B. Trucker 1234-56789
I
CALIFORNI.A CAPITAL ACCESS PRCXiRAM Ca.lffom.13 PoUulion Conrol Financing Alllhorny 9 15 C81)itol Mall, Room 4.57 Ssc.nunento, CA 938 14 Telephone (916) 65 4-5610 Fa.'i (916) :519-280:S CaJCAP Fl:SAl'\C IA I_ l:SSTlTlmO N CLAOI APPUCATIO.~ NOTF..: A lender i~ rcquirod '° notify the A uthnriry "-ithtn 120da)'-. of\\'hm the lender hu~haf-gcd off all o, pan
as a rrsul1 ofdefaul1 b)• a bormwc.-. If the fo,m ts filled out p roper!)' and the lender has faithfully complied 1,1,idt CalCAP
n~quiremenu, C PCF A \4i ll a.uthorhc thr Program~ to ttlmburw the~ from the lirn&r·~ los._'1: r~·c ac:counl wnhjn JO hl.ri;;iness duys.._
L, ndu
and Borrm,,w:r l n formarion Pan,c..,.ung l.ffid<r:WeFlnanceTrucks Lcndc(sCaJCAP ID#:~ 1 _ 5- _99 _9_ 9
________
_
Lond<, Cont,oc N"...,.,,_M_r_
._ Fl _ ,_ n_ ance
__
r ______ _
CaJCAP La:m Numbcr:_1_2_34-_56_7_8_9
______
_
Pl>on<,;916-654-5610 AM,ess:
915 Capitol Mall Sacramento, CA 95814
l oan h,formation
Ong1.nal Pnnc1 pal Amount o f Loan:_
S _ 6_ 5 _ .ooo
__
. _
_
Borro"~r·s Name:
Guy B. Trucker
Bar..-o\.\-n DBA :
Trucks R Us
Dato of Loan: 8121 /2013 Dt:f3uh Amoum:_
$4 _ 5 ~ ,000
__
00
__________
_
Dalo of DcfiLull:_
0_
2/_0_1/2_0_1_5
_________
_
lsthtsloan sircured1 OVH 0No
Dato of Cha<!!Jl'-oll' _
0_ 31 _0212
__
_1 _ 5
________
_ lfyrs:, "~
fcxm ofSf'CIId)'" __________ _ Was lhe loen in the: first S I million ofCaJCAP loons: madir by lende:r7
[JYrs ilNo
11..3\T cnforccmcru proceedmg.s begun? 0Ycs []No l..cnda"s pnorttyofdaim {lf1·~1l ot mou: claim~ fik-d by lcl:\&r) , _
·N
_ I _A
___________________
_
Cla1 ',r , lnf
0 11--of-pocl,.ct cxpmscs C Att.3ch dctallcd cxplanabon} Pl.raw a llaC".11 lu.a.• bis1c
11·~· n ~
eon..
r15.000.00
s2.500.00
sO.oo
wam mts L htsclaim ts bc.1ng tiled wrthm 120
f.b)'S oftbc 1
030 bcmg charged off and that cmfgc-offY1as cons1~m. \\1lh thr lcnde.r·.s usual methods fOI" taking. :actmn on loans not era-oiled m the Prognun
.a_St-m. pursur: additioml rt.-eo1,,-cry o n th11 dcfaullOO Loan through legal prOC'.oirdjn_gs, sr:imR and
hquulauon o f collateral~
gmra~
a ndf« othc:r soun~es.
t has Sl'-'ffl notice to the Aulhont)' of t.he Ultt&al cmollmcnt
( l) has gi,~n nouce to mt Aulhority of any rit:nc\l,'3.IS or c~
(2)thc loan ~-.continuously rc:~~d orc:xtcndN sux:c- lbt: date- of
rts mdial cnroll1n1.---nt Ill CaJCAP.
Authonud Signature
I
I
I
Au1:bo r1 zed Siqn.atur•
EXAMP MPLE LE: Borrower G Guy B
cker r came to WeFinance ceTru ruck cks i in August o
013 lookin king t to purchase a tru ruck ck t to haul p paper for r his re recy cycl cling b
. WeFinance ceTru rucks s sold G Guy B B. . Tru rucker a r a 2013 13 Detroi
sel on
st 2 21, 2013 13 and financed $ $65,000.00. ,000.00. Guy B
cker m r made cons nsistent t time mely ly pa payme ments f for the rema mainder of 2013 a 13 and throughout 2014
in Jan anuar ary o
5, Guy B. Truck cker c contact cted W WeFinance ceTru ruck cks to inform u us that h he had brok
his l s leg. As As a resu sult, h he wou
no l
be able to
and con
making payments o
. WeFinance ceTru rucks t tri ried to work w with Mr Mr. . Tru rucker t r to ensure re his l loan would b be paid, b but were re unsucce
. On Ma March ch 2, 2, WeFinanceTrucks re repossessed Mr Mr. . Trucker’s 2 2013 D Detroi
sel and c d charge ged-off his l loan an with a a rem emai aining p principal al bal balan ance
$45,000.00. ,000.00. On A Apri ril 1, , the t tru ruck ck was s sold at auct ction f for r $60, 0,000 000.00
As a resu sult, t the col
exceeds the default a amou
and unpaid i
. WeFinance ceTru ruck cks i is claimi ming ng t the out-of-pocket fees incu curre
. WeFinance ceTru rucks i incu curre rred $500 $500.00 i in admin costs, $ , $500.00 i 00.00 in c collect ction fees, $ $1, 1,250.00 250.00 for r repairs, , and $ $250.00 0.00 in detailing charges totaling $ $2,500.00 i 500.00 in out-of-pocket e expense ses. s.
Date Transaction Total Principal Interest Total Principal Balance 8/ 21/ 2013 Loan Funding $ 65,000.00 $ 65,000.00 10/ 1/ 2013 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 63,750.00 11/ 1/ 2013 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 62,500.00 12/ 1/ 2013 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 61,250.00 1/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 60,000.00 2/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 58,750.00 3/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 57,500.00 4/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 56,250.00 5/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 55,000.00 6/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 53,750.00 7/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 52,500.00 8/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 51,250.00 9/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 50,000.00 10/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 48,750.00 11/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 47,500.00 12/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 46,250.00 1/ 1/ 2015 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 45,000.00 3/ 2/ 2015 Charge off $ 45,000.00 $ (45,000.00) 4/ 1/ 2015 Sale of Proceeds $ 60,000.00 Total Principal Outstanding $ (15,0 0 0 .0 0 )
From To Total Accrued and Unpaid Interest Out of Pocket expenses 100% CalCAP #: Time Period No. Days Rate Principal Balance Daily Rate Interest Accrued Lender Loan #: Borrower: Total Loan Amount Enrolled amount % of interest and expenses paid Outstanding Principal or enrolled amount (whichever is less) * The sum of the Outstanding Principal and Accrued and Unpaid Interest may not exceed the Enrolled Loan Amount. Collateral Received 01/02/2015 03/02/2015 59 12.00% $45,000.00 $14.79 $872.88 $65,000.00 $65,000.00 $60,000.00 100% $-15,000.00 $0.00 $2,500.00 $0.00
CALIFOR..'IL A CAPITAL ACCESS PROGRA.'-1
Califomi:t Po.UWon Comrol Fin3fteing A\llhorlt)' 91S Capitol Mall, Room .. :57 Sacr.uncnt:o, CA 95814 Ttlq,hone (916) 654-5610 Fax (916) 589-2805
C•ICAP Fl:'\IA !',ClAL l.'iSTfflJTION C LAIM AP PI. IC AT IOS
NOTE; A le:nckr is rcqujrc:d r:o :notify the Aulhority "ithm 120d:J.)'-s of when the lc.rdtr has cluirgtd off all or pan o f Si ql.13lif"~d lo:in as :i ..-esult ofdclault by :e ho1To1Air.L If the fOllll 1"11 fi.lkd
rd with CalCAP rcq\Uref1l('.nts., CPCFA \ltiU autho,uc the Program UUS1eC to rcunbursc the k.ndcr &om lhc lcndcr"s loss ..-c:scn·c account wnhfo 30
bm;ane:§.Sdays..
L~nd~r and 811rrawrr Inf ormation
l".>rticip>Iing l.mdcr:WeF1
nanceTrucks Lcoocr Contaoc Namo::_ M _r _ ._ Fi _ 1 _ na _ n_ ce _ r _______ _
1'11onc: 9 16-654-5610 Addn,,.s: 915 Capitol Mall
Loan l n(onnan
..
n Ong1.n:al Pnnc1 paJ Amount of
Loon:_$6_5_.000
__
.00
_____
_
Default Amoum:_ S4 _ 5 _ ,_
00 _0
____________
_
Ls: lhts loan secured? OVcs 0No
L<nckr'sC~CAP!D~: ~1 _ 5- _ 9_
99
_ 9
_________
_
CalCAP Loon Nwnb..'f:_
1_2_34-_ 56 _ 7 _8 _9
_______
_
0cm,"..,,.·s Name:
Guy B. Trucker Trucks R Us
Dai,, of Loan:_
812
__
112 _ 0 _1 _ 3
___________
_
Oat., of Ddauh:_
021 _ 0 _1 _12 _ 0_
15
_________
_
Date of ChMgc-ofl: _
0_ 31 _0 _21 _2 _0 _15
_______
_
lfyc.s.~
Yt-"hat fCM'mofscc-unt)
__________
_ \I/as ihe loan in the first $1 mlllk.XI ofCalCAP Joans made by lrndcr7 D Y~ iaNo Ha,-e enforor:mcru procccdmgs beg.u11?
0Yes []No
Lc:ndc1·s pr.or11y of claim tl f h,\U or- rnon~ claims filed by ltndtt,-_____________________ _
Clain, lnfon,Hllim, Accrued and Unpaid lmcrcst
Out.-of-pockr.t t".X~ (Att.x:h d.:taikd e:.'q)lanatioo) P'lf-Ht :
arUt"b laa.a luuor y npon. .545.000.00 .5872.88
~2.500.00
.548.372.88
the loon brang ehargc.d off and that charge-off was consistent "1ih the lcndcr•s usu:d methods fllf mking scbon on lo3.R$ not enrolled m ihc Program.
l.iqu.1:d:won of collateral, gwranttts., and/or- ~
souccs..
fies n has gt\'cn noti« 10 lhc Authority of the initial cnrollmcn1 of the- loan in CalCAP, and either:
( I )has gi,·cn nouce to 1he A aahomy of any R'HC'-''ah tv L".Xletismns of the loan~ o,-
(2)the loan W3l5 continuously R':flr'V."ed orrncndOO S&.nce too drt.tr: of its mrtial cmollnr:m m CnJCAP_ A\.R.hort1.cd s
ignat &m"C
Otttc
Tnk
EXA XAMPLE LE: Bor
y B. . Trucker came me to
August of
13 looking t to pur purchase a a truc uck to haul ul pa pape per for his recycling b bus
sold Guy Guy
cker a a 20 2013 3 De Detroit Di Diesel o
n Aug ugust 21, 2013 13 and f finance ced $65, $65,00 000.00. Guy B. . Trucker ma made con
paym yments f for
the rema mainder of
13 an and throughout 201
n Janu nuary o
2015, 5, Guy Guy B
ucker c cont ntacted WeFinanceTrucks to
that he had b brok
leg. . As a result, he wou
nger b be able to work and nd cont ntinue m making pa payments on n his loan.
tried t to w work w with M
ucker t to e ens nsure his loan w n woul uld be pa paid, b but ut were
. On March 2, , WeFinanceTrucks repos
Mr. . Truck cker’s 2013 D 13 Detroit Diesel an and c char arge ged-off his l loan an wi with a a remai emaining p g principal al bal alan ance e of $45,000.00. The truck has not been sol
. In In addition
default a amou
WeFinanceTrucks i is clai aiming g the e out-of-po pock cket f t fees incu
cks incu curred $500. 0.00 i 00 in admin c costs ts, $ $500. 0.00 00 in collecti tion fees, $1, 1,250 250.00 00 for r repairs, a and $250. 0.00 i 00 in detai ailing g char arge ges t total aling $ g $2,500.00 i in out-of-pocket et e expenses es.
Date Transaction Total Principal Interest Total Principal Balance 8/ 21/ 2013 Loan Funding $ 65,000.00 $ 65,000.00 10/ 1/ 2013 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 63,750.00 11/ 1/ 2013 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 62,500.00 12/ 1/ 2013 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 61,250.00 1/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 60,000.00 2/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 58,750.00 3/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 57,500.00 4/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 56,250.00 5/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 55,000.00 6/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 53,750.00 7/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 52,500.00 8/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 51,250.00 9/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 50,000.00 10/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 48,750.00 11/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 47,500.00 12/ 1/ 2014 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 46,250.00 1/ 1/ 2015 Payment $ 2,000.00 $ 1,250.00 $ 750.00 $ 45,000.00 3/ 2/ 2015 Charge off $ 45,000.00 $ (45,000.00) Total Principal Outstanding $ 4 5,0 0 0 .0 0
From To Total Accrued and Unpaid Interest Out of Pocket expenses 100% CalCAP #: Time Period No. Days Rate Principal Balance Daily Rate Interest Accrued Lender Loan #: Borrower: Total Loan Amount Enrolled amount % of interest and expenses paid Outstanding Principal or enrolled amount (whichever is less) * The sum of the Outstanding Principal and Accrued and Unpaid Interest may not exceed the Enrolled Loan Amount. Collateral Received 01/02/2015 03/02/2015 59 12.00% $45,000.00 $14.79 $872.88 $65,000.00 $65,000.00 $0.00 100% $45,000.00 $872.88 $2,500.00 $48,372.88
Statu tus
, 2016