Compliance and Fraud Best Practices Guide

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What They Are and How to be Successful

Let’s Set the Standard

Building relationships and working together is at the core of our commitment to 100% clean energy for all. To do that, we need to create the best possible experience for both customers and partners.

We require that our partners meet all applicable regulatory and program requirements, protect consumers’ interests and deal with all parties in a fair and constructive way. While we trust that our partners go to great lengths to uphold these standards, compliance and fraud violations are a serious matter.

Please review these guidelines in detail and reference them on a regular basis. Customers and OK’d Loans are depending on you to do the right thing.

Selling financing through OK’d Loans — Best Practices for Compliance

OK’d Loans provides access to financing for qualified customers that want to make home improvements.

What can you finance through OK’d Loans?

A home improvement loan through OK’d Loans is unsecured and can generally include anything related to home improvement that you sell.

Here is a representative list:

  • – HVAC
  • – Doors/Windows
  • – Roofing
  • – Siding
  • – Solar systems
  • – Solar batteries
  • – Other general home improvements

OK’d Loans has specific qualification requirements that must be met in order to provide customers access to financing.


Here are the Must-Haves to Finance through OK’d Loans

A qualifying customer:

  • Must be at least 18 years of age and legally eligible to enter into contract
  • Must be a U.S. legal citizen or lawful resident
  • Must be the owner of the home, and the home must be within the U.S. states and territories approved for lending activity through OK’d Loans
  • The residence must be a one-to-four unit family dwelling that must be permanently affixed to the ground. Mobile homes and houseboats are not eligible.
  • Must have an active email address that they use regularly
  • Must be willing to receive electronic account communications
  • Must personally complete the credit pre-qualification and loan agreement
  • Must sign all documentation themselves

Must understand:

  • That credit authorization will lead to a “hard” credit check upon acceptance of a loan
  • The terms of the loan (length, APR, payment due date, monthly payments)
  • The language in which the sale is made and the contract is written (Home Improvement loans only support English at this time, and marketing of Home Improvement loan must be done only in English)
  • Their 3-day right to cancel

A qualifying installation site:

  • Must be a one-to-four unit residential property, permanently affixed to the ground
  • Cannot be a commercial property

Compliance with OK’d Loans Policies

If a customer or installation site does not comply with the requirements outlined above, you, your company, and/or the loan itself could be considered non-compliant. This could result in cancellation of the loan, termination of your access to the OK’d Loans portal or termination of the relationship between your company and OK’d Loans as well as its lending partners.

Please make sure you understand Mosaic’s compliance and fraud policies. If you’re unsure, reach out to your Account Manager or OK’d Loans Support before proceeding.


An Introduction to Compliance and Fraud

What are they?

Compliance violations are failures to observe consumer lending and/or OK’d Loans requirements. Fraud violations include, but are not limited to, severe legal breaches including forgery, falsification, impersonation, and/or misinformation influencing customers to sign up for a loan under false pretenses.


How to Avoid Compliance and Fraud Violations

How are compliance and fraud violations handled?

We hope to prevent these issues in the beginning by providing you with this guide.

If issues do arise, we want to handle them together, as a team. OK’d Loans Customer Support, Loan Operations, and your Account Manager are all available as resources to help address compliance and fraud concerns. In the event there is a compliance or fraud issue, here’s what to expect:

  • Mosaic’s Loan Operations and Support teams will review any reports of potential compliance and fraud violations.
  • We will notify you and your OK’d Loans Account Manager of the issue via email and will work with you to verify the claim, ask follow-up questions, and determine the next steps
  • You will need to acknowledge any instance of an alleged compliance or fraud violation within three business days, and formally respond within one week from the date of your acknowledgment for such alleged violations. The opportunity will not be advanced to the next milestone until the issue is resolved.
  • We will work with you to investigate the claim and close out the case.
  • Confirmed compliance or fraud violations may result in a cancellation and charge back of a loan to your company. You may be responsible for incurring all associated costs.

Please understand that cases of fraud, or frequent alleged violations of any kind, can result in negative repercussions for you and your company. We may be required to take additional
action against you and/or your company, which could include a temporary or permanent ban
from the OK’d Loans platform.