Once you are logged in to the correct Lender Account, navigate to Solutions, Loan Data, Product:

You will be presented with the Products screen. You will need to first setup the high-level elements of the Product set for the Lender. This will depend largely on the makeup of the lender products, their distribution channels and product logic.

The primary collection for a lender will be Residential Mortgages. (This will allow lenders to have other collections such as Commercial or Asset Finance. Remember that it is Collections that parties subscribe to).

From review of how most lenders structure their products data, it makes most sense to create 2 groups:

Group: Owner Occupied

Group: Investment

From review of how most lenders structure their products data, it makes most sense to create 2 subgroups within each of the Groups:

Subgroup: Principle & Interest

Subgroup: Interest Only

Now that you have setup the grouping logic, you can now start adding products to the Group. Make sure you are in the correct group, subgroup - and then Click Add:

A new Product section will display. Fill in the details of your product. You can complete the high-level details for the new Product:

The dates that the product is valid for. If you are not aware of the proposed length of a products availability, its a good idea to make 5 years.

Who is maintaining the data - Simpology, or the Lender.

Discount Package should be selected if one applies to the product. For further information about how to setup discount package, click here.

Select Comparison Rate Calculator (default is "standard"). For further information about how to set up different Comparison Rate Calculators, click here.

Select the default interest type for the product

If fixed, set the default fixed period (usually 1 year).

Next set the interest rate/s applicable to the product. Note that if you dont have comprehensive details, the Base Rate and Benchmark Type must be added as a minimum. The Base Rate is generally the advertised RTB for the product:

When you are finished, press SAVE:

You will note a button called Template:

Which when you click on opens a popup:

The Template sets the naming conventions for your products, in the rates grid. In the example above, the whole name of the product will be Retail Name+LVR range+Loan Amount Range+InterestType+RepaymentType+LoanPurpose.

ie Basic Home Loan-0-80-$150,000-$1,000,000-V-PI-OO

This will be the default naming conventions, unless you change the setting in this section.

Note that any of these elements will only be in the "name" of the product if the element is included in the configuration.

Next you will want to set the features of the product. Click on Features, and use the drop down to select features you wish to add:

NOTE if you prefer, you can also expand the section to scroll through all available feature settings:

For each feature type, click the + button to add detail. You do not need to save until right at the end of your work. For the particular lender/product, you need to be sure to set up all the elements that are needed to create the different variations (that have different interest rates). Key elements that can effect interest rates on a product are normally Repayment Type (IO and P&I), LVR bands, and Loan Bands.

For this example, the key features that need to be added in order to create all the required variants is LVR bands:

You will note we have also 'adjusted' the interest rate for each LVR band (from the normal rate for the product); and also ticked 'varies interest rate':

This will mean in the rate grid at the end, each of these variations that 'affect interest rate' will create a new line in the grid.

For repayment option, select both P&I or IO (depending on the Subgroup you are working in) and mark "show in grid":

The two steps will mean that you get a variation for each LVR band, + for each repayment type, which will allow you to set all the different interest rates applicable.

Continue on and complete the rest of the features. Only click "affects validity" if you want to create a new line item variation in the rate grid.

For Full details on the FEATURES functionality, please click here.

Next you will want to set the fees that are/may be charged on the product. Its important to tick the Comp Calc setting for all those that should be included in Comparison Rate Calculations:

When you have finished setting all Features and Fees, click SAVE

This section will display all the calculated variations for the product you have set up. The number of variations will depend on the features you have set to "varies interest rate" or "show in grid".

If you don't see all the expected variations, its easy to go back into features and add more detail.

Note that the Name column names each variation as per the elements you set up in the Template above.

Note you can delete any invalid variants that have been auto-calculated, if need be, by un-checking the 'valid' box. This will mean that variant will still exist, but wont be included in any products outputs.

You can then toggle the Display Valid Only to YES and the pink, invalid variants will be removed, leaving only those variants that are applicable:

Finally, you will want to check and may want to amend the rates on each variation, where required. In order to change a variant rate that has been auto-calculated, click the "override" checkbox, and type in the new rate:

For a full breakdown of the functionality in this section, click here.

This section allows you to upload documents that are related to the loan product.

To add a document, click on New Doc

Complete the detail and upload the document:

For a full breakdown of the functionality in this section, click here.