10+ iFocus Systec Interview Questions and Answers

Handled various customer queries related to product usage, billing, and technical issues.

• Assisted customers with troubleshooting technical issues over the phone and email

• Resolved billing discrepancies and processed refunds

• Provided guidance on product usage and recommended solutions to meet customer needs

• Handled complaints and escalated issues to management when necessary

Fannie Mae and Freddie Mac are government-sponsored enterprises that provide liquidity to the mortgage market.

• Fannie Mae and Freddie Mac buy mortgages from lenders and package them into securities that are sold to investors.

• Fannie Mae was created in 1938 and Freddie Mac in 1970.

• Fannie Mae is a nickname for the Federal National Mortgage Association and Freddie Mac is a nickname for the Federal Home Loan Mortgage Corporation.

• Fannie Mae and Freddie Mac were placed into conservat...read more

US mortgage is a loan taken to purchase a property, secured by the property itself.

• Mortgage interest rates are influenced by the economy and credit score.

• There are different types of mortgages such as fixed-rate, adjustable-rate, and FHA loans.

• The down payment required for a mortgage can vary from 3% to 20% depending on the lender and type of loan.

• Defaulting on a mortgage can result in foreclosure and the loss of the property.

• The mortgage industry is regulated by government a...read more

Yes, a well-designed model can better execute in the Indian market.

• A model that takes into account the unique characteristics of the Indian market can perform better.

• Factors such as cultural nuances, language, and consumer behavior should be considered.

• For example, a model that incorporates regional languages and dialects can better connect with consumers.

• Similarly, a model that accounts for the importance of family and community in Indian culture can better target marketing ...read more

Compliance checks in internal audit are conducted through various methods to ensure adherence to regulations and policies.

• Compliance checks involve reviewing policies and procedures to ensure they align with regulations

• Auditors may conduct interviews with employees to verify compliance with policies

• Testing of transactions and processes may be performed to identify any non-compliance issues

• Documentation review is also a common method used in compliance checks

A mortgage is a loan taken out to purchase a property, with the property serving as collateral for the loan.

• Mortgages are typically long-term loans, with repayment periods ranging from 15 to 30 years.

• Interest rates on mortgages can be fixed or adjustable.

• Mortgages can be obtained from banks, credit unions, or other financial institutions.

• The amount of the mortgage loan is based on the value of the property being purchased.

• If the borrower fails to make payments on the mortgage...read more

Our future goals and objectives are to expand our underwriting portfolio, improve risk assessment techniques, and enhance customer experience.

• Expand underwriting portfolio to include new industries and products

• Improve risk assessment techniques through advanced data analytics and machine learning

• Enhance customer experience by streamlining underwriting processes and providing personalized service

• Increase profitability through efficient underwriting and risk management practice...read more

TDS stands for Tax Deducted at Source. Excel can be used to calculate TDS amounts and generate reports.

• TDS is a tax deducted by the payer at the time of making payment.

• Excel can be used to calculate TDS amounts based on specified rates and generate reports for TDS deductions.

• Formulas in Excel can be used to calculate TDS amounts automatically based on income and tax rates.

• Excel can also be used to create TDS certificates for employees or vendors.

• Using Excel functions like SUM...read more

The US Mortgage industry is a financial sector that deals with loans for purchasing real estate properties.

• The US Mortgage industry plays a crucial role in the housing market by providing financing options for homebuyers.

• Mortgage lenders assess the creditworthiness of borrowers to determine loan eligibility and interest rates.

• There are different types of mortgages available, such as fixed-rate mortgages and adjustable-rate mortgages.

• The industry is regulated by government age...read more

LTV stands for Loan-to-Value ratio, a financial term used in mortgage industry to assess the risk of a loan.

• LTV is calculated by dividing the loan amount by the appraised value of the property.

• A lower LTV ratio indicates a lower risk for the lender.

• Lenders typically prefer a lower LTV ratio to approve a mortgage loan.

• LTV ratio can affect the interest rate and terms of the mortgage loan.

Design Google Calendar for scheduling events and appointments

• Use a clean and user-friendly interface for easy navigation

• Implement features like creating events, setting reminders, and sharing calendars

• Include options for recurring events and color-coding for organization

The 4 Cs of mortgage are character, capacity, capital, and collateral.

• Character refers to the borrower's credit history and reliability.

• Capacity refers to the borrower's ability to repay the loan based on income and debt.

• Capital refers to the borrower's financial reserves and assets.

• Collateral refers to the property or assets that can be used as security for the loan.

Better.com is a digital mortgage lender that aims to streamline the home buying process.

• Digital mortgage lender

• Focus on streamlining the home buying process

• Utilizes technology to simplify and expedite the mortgage application process