9/1/2025

As a reminder for the Underwriting Team, during huddles this week your Supervisors should have reviewed a new SOP titled Second Loan Application, along with a separate training guide which will replace the Two Unit Simultaneous, and Two Unit Existing SOPs effective 9/1/2025. The goal was to simplify the SOPs to cover processes that are required per Octane’s Credit policy, and separate lengthy step by step guides to a separate document (linked in the SOP). There is no change in requirements or process, just a more simplified SOP for easier understanding and better readability. I’m putting both links here and will also add them to the intranet. If you have any questions, your Supervisors and Ops Managers should be able to assist.

7/7/2025

 A new "prime" initiative was just launched for our Good Sam captive program with Camping World. Please be aware there's a change in the structure to the reserve/incentive payout.

• For Risk Tier 1.01 to 2.01:

  • Vehicles valued at above $10,000:

    • 6% reserve + $25 spiff

  • Vehicles valued below $10,000:

    • 3% reserve + $25 spiff

• All other deals will continue to receive the standard $125 incentive.

6/27/2025

This is just a reminder of updates that went out in Underwriter team huddles this week.

• The Two Unit Calculator has been Updated

  • All Sups and UWs should now have a new calculator dated 6/23/25

• Two Unit SOPs updated - both Existing and Simultaneous. Updates include:

  • A New calculator that accommodates when one loan is All in Advance and the other is Guaranteed Backend

  • The Secured backend calculator now accommodates that this amount is no longer a fixed number and may change.

6/26/2025

Quick update from the Auto team... the following changes will go live in the portal Monday:

• The DTI cap will increase from 55% to 60%

• The minimum amount financed will increase from $5,000 to $10,000

• New vehicle definition: Untitled Prior Model Year with <= 3000 miles, up to April 1st of current model year. (Previously was within 3 years (2024, 2025, 2026) and less than 6000 miles). This will be managed through the portal but will also be added to the Auto Manufacturer Invoice SOP as a backup check.

• Term restrictions will change from from vehicle model year (age) to mileage:

  • 84 month term: mileage <= 35000 (stated policy of 30,000 with a buffer of 5,000)

  • 72-78 month term: mileage <= 75000 (stated policy of 70,000 with a buffer of 5,000)

  • 66 month term: mileage <= 82500 (stated policy of 77,500 with a buffer of 5,000)

  • 60 month term: mileage <= 90000 (stated policy of 85,000 with a buffer of 5,000)

  • 48 month term: mileage <= 125000 (stated policy of 120,000 with a buffer of 5,000)

6/16/2025

Ocrolus Income Automation launched this morning. We are extremely excited to see the results and are counting on everyone to provide feedback as we look to tweak the automation. The summary deck has been added to Training Resources. 

Best Practice to review the Ocrulus Lender note for potential fraud: Hit Ctrl+F when you are in the application and type in "Fraud" in the search. This will highlight the word "Fraud" inside that note in the event fraud was detected.

6/11/2025

A new Training corner was released that discusses "Reasonably - Identifiable" items as it pertains to post contracting documentation. This document has been added to our intranet and is available for use. 

6/6/2025

Good morning team! We have two new SOPs for the department that were introduced during team huddles this week.

• Inquiry Hardcut Override SOP
  - This primarily impacts Underwriters giving you the ability to review certain applications for duplicate inquiries and override the decline in some scenarios. 

• Vehicle Type Discrepancy SOP
  - This primarily impacts Supervisors and Ops Managers by defining steps that should be taken in the event we identify a vehicle type is incorrect. Although the SOP doesn’t impact Analysts and Underwriters, it is good to escalate any discrepancies to your Supervisor to ensure we get these corrected for future applications

As a reminder, you can find links to all SOPs, training, and job aids on our Intranet page. If it is not posted on the intranet it is no longer valid. Please take a moment to review these if you haven’t already and discuss any questions you have with your Supervisor. 

4/17/2025

Last night our Credit Risk team implemented a new loan program called Differential Credit Program. This program is focused on Tiers 3-5 and will offer a higher advance to customers in this range who show attributes that are less risky than others. You will see these approvals identified by loan programs that end in “DCP”.

Along with that, they introduced a new hardcut called “Clarity”. The clarity score is a predictive analysis that will identify riskier customers outside of our Octane Model Score. This hardcut should be viewed the same as an Octane Model score decline and explained the same way to dealers.

4/2/2025

We wanted to share an update on the QuickViewDrawer component that we'll be adding to the new status page for all asset types. The QuickViewDrawer is a sliding panel that is designed to provide a quick snapshot of essential application information without requiring a full page navigation from the status page.

Key Features

• Customer Information: Displays the customer's name and application ID at the top

• Action Buttons: Provides quick access to

  • "View Deal,"  --> links to the WTD page

  • "Credit Report," --> links to SafeCheck page for credit report

  • "View Application" --> links to the read-only page for the application

• Financing Section: Shows the current financing status, application source, and the app owner

• Contact Section: Provides customer contact information including email, phone, and address

• Vehicle & Financing Section: Displays vehicle details including year, make, model, and asset value

• Documents Status: Indicates whether all required documents (pre-contract & pre-funding) have been uploaded

• Co-applicant Status: Shows whether the application includes a co-applicant

3/27/2025

As of last night, our new verticals team has relaunched RVs.com to become the new Camping World Direct Workflow (CW Direct). With this launch consumers will have the ability to shop and apply for RV financing at two locations in Indiana (Elkhardt and Middlebury). The CW Direct workflow is similar to our existing prequal flow, where the application will flow to the dealers portal as a hot lead, and then be finalized by the dealer. There are a few key differences I want to call out:

• The value of the RV flows into the portal through an API integration eliminating the need for a collateral stip

• As of right now, in person applications for these two stores will have to go through the CW direct process. Product is working on a solution to separate out the flows. Once this is complete, in person applications will follow the same flow as all other dealers.

• When the dealer finalizes the CW Direct hot lead, they will be unable to change collateral or value.

• If the customer changes units, they will need to submit a new application.

3/11/2025

Tomorrow Octane will launch the Modernized Work the Deal Page and the New Status Page to Powersports/OPE dealerships nationwide. This launch takes the pilot that was launched in December full scale, introducing these improvements in the Dealer Platform to all dealers.

Modernized Work the Deal Page Features:

• New deal navigation bar and modernized app overview section

• Simplified ‘Notifications and Deal Checklist’ experience with drawer feature

• Improved ‘Deal Structure’ (itemization) section and new ‘Deal Summary’

• New ‘Financing Summary’ banner for key deal information

• Upgraded ‘Documents’ (stip) upload section

More Information:

Internal: Frequently Asked Questions

External: Microbite Marketing Video

Modernized Status Page Features:

• Faster load times and enhanced table layout

• Improved search experience and intuitive filters

• Improved ‘app transfer’ workflow

• Includes copy-into-new, archive app, and read-only view workflows

• Supports multi-asset dealerships

There are no changes to the All in Advance Pilot at this time, it will continue with the pilot dealers only through the end of June.

Impacts to Underwriters - You will now have the same view as all dealers with the exception of those in the All in Advance Pilot. Your dealer portal view will be the same, however you will no longer be able to see All in Advance. Instead each application will be flagged at the top of the lender portal to indicate All in Advance. For these applications you will need to be aware of the following:

• Prime Tiers only (RT 1 - 2.4)

  • RT 1-2.2 LTV = 155%

  • RT 2.3 and 2.4 LTV = 145%

• PTI, DTI thresholds still apply

• MAF thresholds still apply

• New & Pre-Owned Powersports units only

• No OPE, Tractor, Trailer, Switch and PWC

• Deals with All-in Advance are not eligible for additional guaranteed backend

• Stip requirements still apply

Please feel free to reach out if you have any questions.

Note: Applications submitted through Lightspeed will still have the old view.

3/10/2025

Last week several significant launches were completed by our RV product teams. This was covered last month in our RV March to March deck, but here's more information if you'd like to review additional details:

AppOne We are thrilled to announce the highly anticipated launch of AppOne, a major milestone in our efforts to streamline the application submission process for RV and Marine dealers. The integration is now live, following a successful two-week pilot with five RV dealerships. This strategic integration is designed to significantly reduce the friction in submitting applications to Octane and is anticipated to play a key role in helping us achieve our 2025 RV OKR of originating $250M and Marine OKR of originating $50M.

Sales to Gross Invoice To integrate with AppOne, we are required to switch our New RV valuation method to Gross Invoice Amount (Invoice Value + discounts & freight). More information here.

Good Sam Backend As part of our captive relationship with Camping World in RV, we are very pleased to announce the Secured Backend pilot has been released. This pilot will run through May at which time we plan to expand beyond our MVP scope. In short this feature allows Captive Camping World Dealers the ability to sell Backend products within CWs pricing guidelines to eligible customers. Please refer to the full release notice for specifics. Full Release Notice

RV 2.0  A significant upgrade to our RV dealer experience, as well as the sleek new Status Page, which is now available to all new verticals dealers. The RV 2.0 experience additionally includes the upgraded RV Application Page, and Single Login capabilities for crossover dealers. These changes will provide a faster, more efficient, and more user-friendly experience for our dealers. RV 2.0 is a bundled release of several features intended to enhance the experience of all of our RV dealers. These features include:

• New Status Page (available for all RV, Auto and Marine dealers except RVs.com locations)

• Improved RV Application form (see screenshot below)

• RV dealers eligible for crossover dealer single sign on experience (no more incognito mode with two passwords!)

Please see this FAQ that Gil put together for any additional concerns about the page.

3/5/2025

All Underwriters and Supervisors now have new 2 unit calculators. These should be used for calculations moving forward. The SOPs for this process have been updated to reflect the new calculators as well. Please take the time to review the SOP as you are working through any 2 unit submissions, there is no need to rush through the process. The calculator functions/populates as you enter information so there may be segments that are blank to start but will show the required information once all of the numbers have been entered.

2/27/25

As part of the March to March initiative our product team has been working hard on improving features within the dealer portal. They are set to launch an updated Status page on March 4th for New Verticals dealers, and March 12 for Powersports dealers, but will be turning this on for our Underwriting team today. A few of the changes to highlight:

• Maintains the dealers core workflows, actions and processes

• Faster load time

• Better search and filter

• Easier for crossover dealers

• All DTC/Prequal Leads will now be on the Leads Page

2/21/25

I wanted to send out a reminder on a few things that were covered during team huddles this week.

• We have several product launches happening in RV over the next month including an integration with App1, valuation change for new RVs, (moving from selling price to invoice), and the launch of Good Sam Backend. Here is the deck that details the timeline and specifics, which is also posted on our Credit Ops Intranet Training & Resources page. RV March to March 2025

• To prepare for this we have updated both the Manufacturer Invoice SOP and the NADA Bookout SOP to detail new RV processes. If you haven’t already, please take some time to review and ensure you are ready for the change.

• Lastly, the Marine bookout process has been finalized and is in the NADA Bookout SOP. Review of bookouts for Marine units will no longer need to be escalated to a Supervisor.

2/13/25

The GAP SOP has been update to include guidance on how to proceed if a dealer adds multiple units on one policy. Please remember that GAP covers the loan and not the individual units so if one loan covers 2 units we can accept. 

2/4/25

From our product partners: Hi all - the top section of the work-the-deal page has been upgraded for Powersports dealer users. These features went live Monday, February 3, 2025 for the 317 pilot dealerships, and will be available nationwide in March. For non-Powersports dealer users, these features are not available yet.

Application Overview - Information

• Vehicle (single/multi), Condition, Price

• Applicant (single/joint), Name, Phone number

• Deal Eligibility & Requirements

• Credit Score Disclosure

Application Overview - Actions

• Change Vehicle

• View Application (read only/print view)

• View Credit Report

• View Disclosure (single/joint)

1/28/25

I'm excited to announce Octane dealer users can now see Credit Operations contact information in the navigation bar of the Octane Dealer Platform. This release updates the nav bar feature for all asset types and for branded finance platforms.

• Default: Credit Ops Main Line for all Powersports dealerships

• Dedicated Operations Agent ("Batphone"): Credit Ops Agent Name, Number and Extension for select dealerships. This is reserved for our Legend, Captive, and New Verticals dealers. 

1/13/25

Now that there has been enough time to analyze the impacts of the Socure integration that launched in July 2004, it is time to update our LOS with the data points that Socure provides. These data points will replace our existing data points that have not been in use since the launch of Socure in July. With Socure and the new data points, we will be able to dig deeper into possible fraud applications and make better decisions.

On Monday, January 13th, you will notice a slight change to our LOS interface when reviewing an application to include the following:

• KYC/Fraud Report section in the Loan Processing Portal will be changing to include only Socure data.

       (It is currently still displaying Instant ID and Fraud Score that has not been in use since the launch of Socure in July as well as the manual actions needed)

• Stipping logic will not run in the event of a Socure decline

       (Previously, all declines went through the entire decisioning waterfall while the new logic will stop in the event it is a Socure decline)

**As stated previously Socure was launched in July of last year and we have already become accustomed to using its logic. This update is a slight visual change to the Loan Processing Portal to reflect Socure data only. There are no new actions needed on your part. Your supervisors will be reviewing the changes with you in your team huddles this week. If you have any questions please feel free to reach out to Ops Managers or Supervisors.

https://docs.google.com/presentation/d/1y3f1QT0GUsH_UI6HWY0XCRz5xFwT2ocp2DZ_ZCybLg0/edit#slide=id.g2e76e41b2b4_1_0

1/8/25

The AI/Data engineering team is thrilled to announce that after a successful month-long pilot program, the Octane AI Assistant is now generally available to all Octane users.

It can be accessed at https://ai.octane.co.

This transformative productivity tool provides a web-based chat interface for interacting with AI models, with the ability to learn about the user. Similar to tools such as OpenAI’s ChatGPT or Google’s Gemini, the Octane AI Assistant allows users to interact with AI models in a conversational format. It can perform tasks like summarizing meeting notes, proofreading an email, explaining technical concepts, or brainstorming names for a new product.  It can also surface Octane-specific data from an ever-growing knowledge base.

We’d like to thank the members of the Product and Engineering teams for participating in the pilot and providing valuable feedback. Dwayne Maye and Randy Nicholson also get a special shout-out for completing our transition to Amazon Bedrock, which gives us access to more powerful AI models than we could host on our own inference server.

How to use

The Octane AI Assistant is available to all internal users at ai.octane.co, using Okta as an authentication mechanism. Once you’ve logged in, you’ll be presented with a chat interface, where you can interact with various AI models. To help get you started, we’ve put together a user guide.  You may also request help in our Slack channel #ai-support, and we welcome success stories in #ai-wins! 

  Any use of the Octane AI Assistant is expected to adhere to our acceptable-use policy for Generative AI tools, attached as a PDF to this announcement.  And remember, all chat models can make mistakes, so please verify any factual assertions!

Technical details

The Octane AI Assistant is a customized instance of OpenWebUI, a user interface for interacting with AI models. Models are served from Amazon Bedrock. We currently use two models: the default Amazon Nova Pro model and an alternate model, a version of Meta’s Lllama, that has been fine-tuned to follow complex instructions.

12/11/24

Wednesday, 12/11/2024, Octane will launch an upgraded version of the ‘work the deal’ page for Powersports dealers in a pilot program made up of three regions (Atlantic, Great Lakes and Northeast), and three dealer groups (Del Amo, Adventure Lifestyle, and Family Powersports). This version will enable dealers to convert applications faster and easier than ever before. The new page will continue to power the dealer’s critical financing workflow, and this version now has multiple upgraded features.

Starting from the top of the page, the new sticky navigation bar and app overview feature showcases the important application information and makes the page very easy to navigate.

The new ‘Notifications and Deal Checklist’ features are now in a “drawer” tab that can be accessed when the dealer needs to review deal status or send a message to the lender. Previously it took up a significant amount of space on the page and did not notify dealers when new messages came in.

The new ‘Deal Structure’ (itemization) section has been simplified and improved to make the itemization process faster, and makes it more clear how much advance the dealer has left to spend. The summary section titled “Deal Summary” was added to make the customer’s and dealer’s financing journey very easy to understand and communicate.

The new ‘Documents’ (stip) upload section includes a frontend upgrade that improves the user interface, but still has the same functionality for both dealer and lenders who are submitting and reviewing required stips for a deal.

In conjunction with the ‘Modernized Work the Deal Experience’ pilot program (posted above) we will also be launching a new single bucket advance structure pilot called “All-in Advance”. This is for prime applicants in the powersports vertical only. This is set to launch later today or tomorrow morning with the same 317 dealers will be included in both pilot programs simultaneously.

All-in Advance is a new type of advance structure where advance is no longer broken down by front-end advance and back-end advance. With All-in Advance, dealers will see a combined single advance, and that max amount can be used across any field in the itemization section of ‘Deal Structure’. These offers will be labeled in the 'Deal Terms' table, and the amount financed tracker will be a singular progress bar capped at the MAF for the selected term and will update in real-time as the dealer structures the deal.

*Note: "ltv" column is for demonstration purposes only. Dealer will not see this column

All-in Advance Offer Eligibility

• Prime Tiers only (RT 1 - 2.4)

  • RT 1-2.2 LTV = 155%

  • RT 2.3 and 2.4 LTV = 145%

• PTI, DTI thresholds still apply

• MAF thresholds still apply

• New & Pre-Owned Powersports units only

• No OPE, Tractor, Trailer, Switch and PWC

• Deals with All-in Advance are not eligible for additional guaranteed backend

• Stip requirements still apply

12/5/24

In an effort to improve compliance in communicating adverse action we have created both a training deck and an SOP that have been added to their respective pages within this intranet.

Here are the links: 

Adverse Action Training

Adverse Action SOP. 

Please reach out to your Supervisor or Ops Manager with any questions.

12/3/24

The IT team and the AI/Data engineering team today launched support for the Zoom AI Companion, a productivity tool that generates AI-assisted summaries of Zoom meetings and emails them to invitees when the meeting has concluded.

With this feature enabled for a Zoom call, meeting participants can augment or replace human note-taking. The auto-generated meeting summaries can also be shared with invitees who missed some or all of the meeting, so they can quickly digest the topics discussed and any action items identified.

Please be aware that just like meeting recordings, the AI Companion is not enabled by default; the meeting organizer needs to manually toggle it on during the call. 

In consultation with the People team and Legal team, we have prepared guidance for meeting organizers about when it is and is not appropriate to enable meeting summaries for a given call:

• Confluence document: Zoom AI Companion - Guide to Responsible Usage

• Google Drive document: Zoom AI Companion - Guide to Responsible Usage

Special thanks to Ankur Gupta and Kevin Sesock from the IT team for coordinating the activation of the AI Companion, and to all who contributed guidance on how to ensure we can safely enable this feature.

11/15/24

From our product partners: On November 15, 2024 Octane will launch an improved user experience for the Dealer Platform decision screens for Powersports/OPE dealerships. These new pages extend our Dealer Portal 2.0 experience and functionality that launched in early April. In addition, they provide Octane/Roadrunner dealers with clear and actionable messages and call-to-actions once a credit decision is made.

Update from our partnerships team: We have officially signed a prime partnership with CFMOTO! Starting today, November 15th, Our dealers will have the opportunity to select from a variety of their prime promotions including all rates currently available with other lenders.  This is only a soft launch for now.  On December 1st we will kick off the comprehensive announcement in collaboration with our marketing team to maximize visibility!

Update from Risk: The IL/LP Rule in decisioning has been discontinued. The change went live on 11/13. The only impact is that you will no longer see these specific loan programs in decisioning on new applications.

• what is IL/LP Rule?

  • IL/LP (Lack of non- Mortgage Installment Loan Rule.): Set a max advance control of $15,000 on Prime applicants with no installment history.

• The benefits of removing this rule,

  • Simplification of Underwriting Policies: Streamlining policies allows for more consistent and efficient credit evaluation processes.

  • Sunsetting the rule eliminates the need to manage hundreds of individual loan programs, reducing complexity, maintenance workload, and the potential for errors.

11/12/24

From our Risk Partners:

Updates to RV and Marine Hardcuts

Last month there was a hard cut deployed to RV vertical where a consumer will be declined if one’s highest installment line is less than 20K AND highest revolving line is less than 1K. As of today that hardcut has also been added to Marine. 

In the meantime, another Prime hard cut ('new_credit_high_utilization') has been added to RV as well as Marine to decline customers whose average Bank Card Age is less than 2.5yrs AND the max Utilization of the bank card is greater than 98%, the expected size impact is near ~1%.

11/7/24

Over the past several weeks we have been working diligently to update our Bill of Sale procedures to provide clear instructions on how to review the document. As a result, the LOS has been updated with new rejection reasons for the Bill of Sale to increase the accuracy of our review process. We have also provided an up-to-date Bill of Sale SOP to include the new rejection reasons as well as a few other updates. Listed below are the new rejection reasons and the updates to the review process. You can find all SOP's located in the Credit Ops Resource Center. If you have any questions or concerns, please reach out to your Supervisor. Thank you team!

New Rejection Reasons:

• Itemization line item not matching contract (Specific line item(s) in notes)

• (RV Only) Discrepancy between Sales Price & Collateral Value / Sales Price & MSRP

• Missing Customer Signature (If available)

• Incorrect or Illegible Document

• Make/Model/YEAR/VIN does not match (Specifics in notes)

• Customer Name does not match contract

• Ineligible Charge on BOS

Process Updates Added to the BOS SOP:

• The dollar amounts may not match. Dealers may combine fees/charges into one field but total matches

• Amount Financed on BOS can be over/under by up to $0.10

• Dealer Signature is not required

• Lien holder is not required to match

• Customer Address is not a requirement

Each rejection free form note, lender note and Dealer Message regarding the rejection must include the following:

• What document(s) were reviewed

• All discrepancies and/or deficiencies against policy on the document

• Why the document(s) does not meet the contract requirements (e.g., missing information, expired document, incorrect formatting, non-matching details).

• Request for resolution should include what the dealer needs to do to correct the discrepancy and/or deficiency in our policy

10/25/24

Updates to NJ ELT Code and Lienholder Address

From the Titles Department: 

• We are now set up to use NJ ELT code effective today. 

  • The new code is  740347460451770  

  • The new address associated with this code is P.O. Box 312 Wilmington, OH 45177 and has been added to the credit program guide! 

10/14/24

From the Risk Team: Hello, wanted to notify everyone of some underwriting changes as of 2pm EST today:

• The fraud early charge-off model (FECOM) has been reimplemented

• We will be declining ~2% of credit approvals in all powersports risk tiers

• Applicants declined by FECOM will receive the following message:

• Applicant has not satisfied a Roadrunner Financial model score. {Internal Code: FECOM-1}

• With the reimplementation of FECOM, we also made changes to OHS-7, which targets individuals with low LexisNexis Fraudpoint scores

• We have lowered the cutoffs required to be declined by OHS-7, meaning a lower OHS-7 decline rate

• Previously declining ~1% of credit approvals in powersports

• Will now be declining effectively none in powersports

• Applicants declined by OHS-7 will receive the following message:

• Primary: Applicant has not satisfied a Roadrunner Financial model score. {Internal Code: OHS-7}

• Co-Applicant: Co-Applicant has not satisfied a Roadrunner Financial model score. {Internal Code: OHS-7}

• In total the two strategies will be declining ~2.0% of credit approvals in powersports with an estimated impact of ~1.8% to origination $

10/8/24

From the sales team: We are thrilled to announce the launch of RideNow Finance, a partnership between RideNow, the largest powersports dealership chain in the nation, and Octane to provide an in-house private label branded financing experience.

RideNow has been a long-time partner to Octane, funding ~$125M YTD and $575M+ all time - they were the first dealership partner for Octane Prequal back in 2020. As Octane plans to grow our captive dealer partners, RideNow was the first powersports dealership for us to pursue and the  first major milestone toward a full captive relationship is the launch of the private label RideNow Finance.

There are 3 main components of this launch:

• RideNow Finance branding across touchpoints for dealers and consumers in the Dealer Portal and Servicing Portal

• The Octane Prequal Widget on the dealership’s websites

• Octane Prequal integrations within Revvable (a company RideNow uses for a full credit application and CRM). Within Revvable, our integrations are:

• within the consumer-facing credit application, giving consumers a real Octane prequalification.

• within the dealer-facing CRM, making Octane the easiest lender to submit applications to and fund with.

Today’s launch is for 9 pilot rooftops - we plan to scale to a total of 56 rooftops across the nation by the end of the year. Additionally, our contract with RideNow ensures we expedite conversations to turn RideNow into a full captive partner in 2025.

10/7/24

Hi all - the “Scan QR Code” feature for e-sign contracting will be available starting next week for all Powersports and OPE dealers. This feature was initially developed by the Diversification department (Team Shockwave) and introduced for Autos dealers, it was recently configured by Team Abba to function as a new Powersports workflow.

For Powersports/OPE deals, an email will still be sent to the customer and dealer when generating the contract. From the work-the-deal page, the dealer can then provide a QR code for the customer to use to complete the e-Sign DocuSign contract package on their mobile device.

-- This feature is enabled at the dealership account level in LOS Dealerships Table: 

Are contract QR codes enabled

-- If used for e-sign, in the LOS Contract Audit Log, message will be: 

Recipient viewed contract from link (QR)

9/27/24

From our partners in Product: 

I am happy to announce we have released the 45 day first payment option across all autos applications. As a reminder we released the 45 day payment option for just RouteOne applications a few months ago (Email Subject: "[Release] '45 Day First Payment Date' Option [7/11/24]" if you want to go back and read through it) so we wanted to bring that same experience over to the rest of autos. Please watch the short 6 minute video demo below and don't hesitate to reach out if you have any questions/comments/concerns. Our hope is that this release can provide a blueprint for other verticals should the desire to bring a 45 day first payment option to them arise.

https://Octanelending.zoom.us/rec/share/mxTbyhvO8_Gq73boPchZmyHuomyeyplWxSuexI7ZJy-XDcgGhtkiR93Z_6YIToco.ZydJN_B6beipUtCH

Passcode: Pc3LyY*%

9/18/24

Update from our partners in Product: Hi all! In September, Octane will begin rolling out Legend program benefits and the Legend dashboard for seven of our top Powersports dealerships. This release notice covers the Dealer Platform experience that will become available for Jonesboro Cycles, Byron Powersports, Motorcycle Mall, iMotorsports, Statesboro Powersports, F&T Valley Motor Sports LLC, and Specialty Motorsports.

New Legend Dashboard (Homepage) - For the selected Legend dealers, the Legend dashboard will replace their current Loyalty Dashboard, becoming the new homepage of their Octane Dealer Platform. Once the program is announced to the dealerships, Kelly and the BI team will update their Octane Preferred status, so that they see the new dashboard.

New Data for Dashboard - The dashboard is now powered by more in-depth data, thanks to our BI and Tech teams. This data delivers new insights for the dealership on month-over-month and year-over-year performance with Octane/Roadrunner Financial. Including snapshots into average FICO, most popular units, average ticket size and more.

Exclusive Benefits Center - An embedded InstaPage iFrame (designed by our Marketing and Brand teams) on the dashboard will allow the Revenue teams to broadcast and announce exclusive benefits, launches and news for Legend dealers.

Legend Phone Line - Dedicated phone numbers for Legend dealerships are coming soon! Once those numbers are finalized, Legend dealers will have a “bat phone” to call directly to an assigned Credit Operations specialist. They will see that number on the dashboard. We are still working on this initiative so more to come soon!

Go-to-Market - Sales and Marketing teams will be announcing the Legend program and dashboard to the selected dealers starting this week, more information about the other program benefits, like Point-of-Purchase marketing materials, can be found here: Legend Tier Launch - Execution Manual.

9/11/24

Good morning team! Today kicks off the Hershey RV Show which, the largest RV show in America! Our partners at Camping World will have 3 dealerships (Syracuse, Harrisburg, and Hanover) present at the show, running no interest, no payment promotions on specific Eddie Bauer model RVs under the Heartland and Thor makes. These will be available only for risk tiers 1.01, 1.03, 1.05, and 2.01 and only on 72 month terms at 4.99% APR. Our Risk and Tech teams have worked diligently to ensure these promos are in the system for the available for these dealers. These dealers will also be utilizing QR codes with PreQual flex links with limited vehicles available for selection to make the consumer experience at the show seamless. Two members from our sales team will be on the ground cultivating new relationships and working to generate originations. Jesse, with the help of Rona, Nesha, Chas, and Brian will be taking point to manage the communication with our sales team and monitor the queues for any apps from the show. Should you need any assistance please reach out to one of them or your Supervisor.

9/6/24

I am excited to announce an exciting new feature Team Shockwave has released to help support the Credit Ops team to better manage the "Proof of Backend" stip  for auto contracts generated through Route 1 e-contracting. Please find the video recording below outlining the experience. Currently this appears for RouteOne submitted automobile applications only, but could potentially serve as a proof of concept for other verticals.

Zoom Video Recording

Passcode: QxA$D17n

9/3/2024

A new fraud straight charge-off rule was implemented today, OHS-7:

• The new rule will decline applicants with a low LexisNexis fraudpoint score, declining ~1.1% of credit approvals in powersports & marine.

• The rule applies to both primary and co-applicant, meaning that if either applicant fails the rule, the application will be declined.

• Applications declined by this Fraud hardcut will receive the following message:

  • Primary: Applicant has not satisfied a Roadrunner Financial model score. {Internal Code: OHS-7}

  • Co-Applicant: Co-Applicant has not satisfied a Roadrunner Financial model score. {Internal Code: OHS-7}

• As in all other fraud declines, do not communicate to the dealer that the applicant was declined because of Fraud

  • General guidelines / talking points:

    • “Unfortunately there are certain attributes that disqualify this customer from financing. We are unable to consider this applicant for financing”

    • Do not mention which proprietary score was used.  In other words, do no mention OHS, Socure, OFS, FECOM, etc.

08/30/24

Three SOPs for escalated processes have been recently updated.

• Two Unit Existing and Two Unit Simultaneous - updated to remove the max collateral verbiage and replace it with max loan requirements.

• 10-Day Payoff - updated to spell out the process for walking the dealer through the self-serve option, and in the event that is not possible, the requirement to email the payoff letter rather than providing a verbal quote.

08/22/24

Here are a few additional Auto updates that went live today:

• Credit Ops Training - Buyer's Order - This is a new stip specific to auto. This will replace the Bill of Sale to align with industry standards. No change in existing process other than the stip name

• Credit Ops Training - Agreement for Furnish Insurance SOP - this will automatically be requested on all auto applications, but may be included in the contract package. If you are able to confirm it’s included with the contract you can simply unrequest the stip

08/19/24

For our Auto vertical, all stips used to confirm value will now be requested after contracting. Due to this we have a few SOP updates that Supervisors will be discussing in your team huddles.

• Credit Ops Training - Autos Manufacturer Invoice - This is a new stip created specifically for Auto manufacturer invoices. There was no change to the existing process, just a change in the stip name. If you receive a document in this stip bucket, please follow this SOP.

• Credit Ops Training - Like Invoice - This stip moved to post contract, no process change. This stip only applies to LOS submitted applications, it will not be requested for Route 1 or Dealer track submitted apps.

• Credit Ops Training - KBB / J.D. Power NADA Bookout - This SOP was updated to include a like invoice review process for Route 1 and Dealertrack submitted current model year used units with no NADA bookout. @underwriter Please review to understand how to advise a dealer submitting a current model year used unit with no NADA value through Route 1 or Dealertrack.

8/13/24

Today is the day we launch into our next vertical… Marine!!! To start, we will be launching with a handful of our existing Ron Hoover RV dealers who are already familiar with our portal and processes. Nestor Agramonte is our RSM for the Marine Vertical, please feel free to reach out to him if any dealer issues arise.

Here is the link to the Marine Training deck the Supervisors presented last week. Also, there are currently 3 SOPs that have been updated with the current Marine process.

• Manufacturer Invoice - pre-contract - used to confirm value

• Bill of Sale - post contract

• Agreement to Furnish Insurance - post contract

If you have any questions about the above material please contact your Supervisor.