What is the Rate Sheets Connector?
The Rate Sheets Connector is a managed package for Force.com that will access the content of the Rate Sheets module within PrecisionLender and allow client relationship managers to price smaller loans from inside their CRM using PrecisionLender Rate Sheets. The Rate Sheets Connector enables bankers to be more conversational when discussing commercial and consumer loan quotes while providing them a historical trace of the variance in opportunity and account loan data for future insights.
In this article
- Using the Rate Sheets Connector
The PrecisionLender Rate Sheets Connector is delivered as a managed package through Force.com and requires some setup to get it hooked up to a Force.com Org. This is a fairly simple process and our team is ready to assist you with the setup. If you are interested in setting up this feature, please reach out to our support team. Please note that the Rate Sheets Connector is not optimized for mobile use yet.
Using the Rate Sheets Connector
Generating a Price Quote
You’ll want to start by creating or opening an Opportunity or Account in Force.com (the object available to price loans from will be chosen during the connector setup). From your Force.com record under Generate a Price Quote, enter the loan details.
Once you have added the relevant details, click Get Quote to generate a financial statement. You can continue to edit the quote after the financial statement has been generated by selecting from the available dropdown selections in Generate a Price Quote.
Once the quote is finalized, click Save Quote as Pipeline to create a locked record of your new quote.
Once the quote has been saved, it cannot be updated. If Salesforce workflows have been set up, it is strongly recommended to trigger workflows off of the opportunity stage and not the save.
Pricing an Exception
Before saving the quote, if you have the permission in PrecisionLender to Price an Exception, you can override the standard pricing quote up to a specified difference (in bps) from the original rate and modify any fees to Recalculate the Quote. If an exception as already been priced or the quote has already been saved, then the Price an Exception option will not be available.
Once recalculated, both the standard pricing and exception will be shown. You'll have the option to:
- Revert to Standard Pricing to return the values to what was in the original rate quote,
- Edit Exception to make any changes to the exception entered, or
- Save Quote as Pipeline to create a locked record of your new quote.
Creating Multiple Quotes
You can select Create New or Make a Copy to create a new quote for an opportunity and save it as the pipeline. Use the dropdown in the top left to navigate between saved quotes. A star next to the selected quote indicates that it is the pipeline quote. To make a previously priced quote a pipeline quote, select Set as Active Quote on the Price Quotes Object.
Price Quotes Object
The Price Quotes object allows you to view quotes that have been priced and saved for the opportunity. Selecting the name of the quote allows you to view the quote details, financial statement, and the original rate sheet the quote was priced from. Select a quote to view the object details.
Any edits made to the financial statement of the Price Quotes object will not be saved as part of the rate quote. We recommend restricting edit access to the financial statement details.
Rate Sheet product updates made in PrecisionLender will be pushed to the Rate Sheets Connector in near real-time. This ensures that new quotes will be priced using the most recent assumptions. Saved Rate Sheet Quotes will also note the publish date of the Rate Sheet used to generate a quote, giving banks visibility into pricing that may need to be updated.