1. PrecisionLender Support Center
  2. Market Insights
  3. Market Insights Skills

Market Insights - Loan Fee Guidance

Overview

The Market Insights – Loan Fee Guidance skill provides coaching on loan fees based on the market average.

Note

Market Insights is a premium service for clients. If you are interested in adding Market Insights for your organization, please reach out to our support team at support@precisionlender.com.

 

In This Article

 

Skill Installation

Follow these steps to install and turn on the skill for an audience:

  1. Log in to the Andi Skills Manager through the PrecisionLender application.
  2. Navigate to the Configure tab at the top.
  3. Search for “Market Insights - Loan Fee Guidance” in the search bar, and select it.
  4. From the left menu, select Audiences under the Setup section.
  5. Click Setup Audience to open a list of available audiences, and select the audience you’d like to turn the skill on for (e.g. “Everyone”).
  6. For “Choose skill version”, select the latest version (if not already selected). Configure the skill as desired (see the Skill Configuration section of this article for more details) and click Next.
  7. Click Complete Setup & Enable Skill to turn it on for that audience.

 

Skill Configuration

There are several options to configure the skill to behave as is best suited for your organization. To configure a skill, follow these steps:

  1. Log in to the Andi Skills Manager through the PrecisionLender application.
  2. Navigate to the Configure tab at the top.
  3. Search for “Market Insights – Loan Fee Guidance” in the search bar, and select it.
  4. From the left menu, select and audience under the Setup > Audiences section (if you need to configure a new audience, see the Skill Installation section of this article)
  5. Click the dropdown under General Configuration.
  6. Once you’ve made the desired changes, click Enable Changes.

The available configurations:

  • Is Primary MI Skill - Internal Configuration value that dictates which MI skill drives input collection (see Shared Chat below)
  • Construction Products - Which loan products can be categorized as Construction
  • Owner-Occupied Real Estate Products - Which loan products can be categorized as OORE
  • LOC Products - Which loan products can be categorized as LOC
  • CRE Products - Which loan products can be categorized as CRE
  • Initial Fees Bump Cap - Defaults to 12.5, if set to 0, no coaching will be done (only summary provided)
  • Unused LOC Fees Bump Cap - Defaults to 12.5, if set to 0, no coaching will be done (only summary provided)
  • Allow relationship links - For comparable relationship preview, display as relationship link. 
    • Depends on client preference and user access to other relationships
  • Minimum Commitment for LOC Fees - Fees on unused LOC only makes sense for larger deal sizes. No coaching will be provided until minimum commitment is met.
    • Defaults to $1,000,000
  • Excluded Products - Products that are not compatible with Market Insights data. No coaching will be initiated for these products.
    • Common exclusions: Pure Letter of Credit Products, Lease products, or any products that are typically "Other" may not make sense here.
  • Salesforce Integration - Select this option if the client has SF integration active
    • Will query SF for Shared Chat inputs if the opp they are pricing was started in SF
  • Force Connector Type - Defaults to ForceCRM but can also be set to ForceLOS
    • Only relevant if "Salesforce Integration" is checked. Type of connector is often CRM but a client could have only LOS.
  • Annual Revenue SF Field - If Salesforce Integration is checked, this can be populated with the API field name in SF
    • Integrations should be able to identify field name if needed. Can skip this field if you'd like to only pull the others.
  • Postal Code SF Field - If Salesforce Integration is checked this can be populated with the API field name from SF
    • Integrations should be able to identify field name if needed. Can skip this field if you'd like to only pull the others.
  • Industry Code SF Field - If Salesforce Integration is checked, this can be populated with the API field name in SF
    • Integrations should be able to identify field name if needed. Can skip this field if you'd like to only pull the others.
  • Localization Options - Many rows of localization options follow the configurations outlined above
    • This allows for every form of text presented by the skill to be configurable by locale
    • Locales currently enabled are en-US, en-CA, and fr-CA
    • There is a master CSV file containing all of these values for easy edit and import/export

Skill Usage

When the skill is enabled for an audience, the members of that audience will receive coaching from Andi when they are pricing loans.  You can expect to receive insights on how your loan fees compare to the market average for most loans, with exceptions as configured.

For all applicable loans, the skill behaves as follows:

  • If no insights are available for current loan inputs, Andi will not provide coaching on loan fees.
  • If insights are available, coaching will be provided in the Andi window, initial rate field, and / or unused LOC field for line of credit payment types.
  • Coaching is provided to reach the market average based on configurations for bump cap.
  • A learn more link is available to receive a summary of how a specific loan’s fees compared to market average along with comparable data at the bank (if applicable).

Articles in this section