Embedded Files
General Notice:
This update release is scheduled to occur on the morning of June 6th, 2024.
Looker
Looker | Advancement Board
Released 5/29, the newly enhanced Advancement Board is now available as a dashboard within Looker. The Advancement Dashboard is meant to track the progression of a customer through their lifecycle within our program and the remaining amount of active customers within a given range. The counts on the board are considered to be the actuals, or number of active/paid accounts remaining. Depending on performance and loss curve, each 6 month block will display as red or green.
To find the Advancement Board, navigate to Looker and on the main page scroll down to the CNAC folder.
Included on the dashboard are preselected filters as well as some required filters necessary for the board to populate. You must select a report date. Note, report date is end of month selected.
Another required filter is the store location must be selected from the drop down. Please note store assignment is based on security permissions. If you do not see a store listed please submit a ticket accordingly.
For the remaining filters please see below:
Store Region
Location
Active Stores: Optionally you can review, if appropriate, only open stores results but can also include closed locations as desired.
Actual Target or Difference: Introduced for the Looker version, you can now toggle between actuals, targets, or difference between to see end of month selected results
Loss Estimate: Defaulting to 22%, you can select the appropriate loss curve that you would like to estimate with
Chgoff/ Bckoff or Incl. 30-DQ: The actuals displayed exclude either Charge off/Back off (“CO/BO”) or exclude 30+ delinquency and CO/BO (“30+ DQ”). You have the ability to select between these two choices. Back offs are removed from the Month 0 (origination month) as they happen. Charge offs & 30+ are removed in the months they happen.
Once all filters have been selected, click “Update” in the upper right corner.
The board will now populate based on the selected filters. The right hand column will present a total overview count as well as display the difference. Note, targets are based on a standard static pool loss curve with a translation to units unique to the historical averages of each Store ID. The historical averages are a rate of average charge off amount over average loan origination amount. This is equivalent to static pool rate over unit loss rate.
The board itself will display by vintage. Note, the historic vintages shown are 5 full years from before the year of the date selected filter range. For example, if 05-2024 is selected the oldest vintage’s available data will be from the start of 01-2019. Each vintage is broken down by 6 month increments and color coded to visually display whether or not targets were met for that block. Sum rows in between vintages are also set to the appropriate color based on actuals/targets as well. Note that actuals displayed are Net with back offs removed.
To assist with validation we have also included a results “look” that allows review of the data driving the board. This can assist with deep dive on the data as well as validation.
Discover
Discover - Collections | Account Edit | VSC purchase cancel w/no amount owed
In the case that the Calculated Refund amount for a VSC Cancellation is $0, the user can Cancel the VSC contract.
By selecting this option the account will reflect VSC Cancelled in Collections
Forms
Forms | IL Retail Installment Contract - Affects IL Locations
Per Illinois state guidelines, all blanks on the IL Retail Installment Contract must be filled in. The IL Retail Installment contract was updated so that if there is no CoBuyer, all CoBuyer signature lines and initial lines will be autopopulated with “N/A”.
Along with the Wage Assignment prompt, a new prompt for the Guarantor name has been added.
If there is a Guarantor, a name must be entered in the prompt which will autopopulate in the Guarantor printed name line on the last page. The IL Retail Installment Contract will need to be wetsigned with the Guarantor signature and date.
If there is not a Guarantor, leave the Guarantor prompt blank so that “N/A” will be autopopulated on the Guarantor printed name line, Guarantor signature line and Guarantor date line. This allows the IL Retail Installment Contract to be sent to Secure Close with no blank lines.
Forms | Texas Retail Installment Contract - Affects TX Locations
TX OCCC required the following changes to the Texas Retail Installment Contract: Promise to Pay (“Principal” instead of “Amount Financed”), How We Figure the Finance Charges (“Principal” instead of “Amount Financed”), Returned Payment Charge (specific amount and additional sentence), Rights after Default (“Principal” instead of “Amount Financed” and personal items language detailed), Communication Consent section removed, and Notice to the Buyer box (“save a portion” instead of “obtain a partial refund” of the finance charge).
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