As a Mortgage Manager with your own Simpology Channel, part of your own channel will be your Products Engine.
But also, as a Mortgage Manager, your products are generally those of your Funder/s - ie you do not actually define the product configurations.
To make it easy for you to adopt your Funders products, Simpology has a sophisticated capability for a Mortgage Manager Channel to 'subscribe' to a Funder Channel in order to consume, or inherit, the Funder products into the Mortgage Manager Channel.
Once connected in this way:
your Funder products can be populated into your own Products Engine
you can edit key details like Product Names, Rates and Fees...to make them your own
if your Funder makes changes to their version...these changes will filter immediately to your version...making it effortless to maintain products as you Funder publishes changes.
Prerequisite: Permissions
In order to be able to subscribe to, and then be able to make your edits, to Funder products, you need to ensure your permission group has the "subscriber customisation" permission, which is found in Solution: Simpology Manager, Section: Product.
Please check with Simpology to ensure you do.
How do I subscribe to my Funder Products?
You can subscribe to Funder products by requesting subscription. In your channel, go to Account/Security/Data Subscription:
In the Data Subscription section, expand "Subscribe to Data- Whose data can I see?"
You are able to create a request to subscribe to your Funder's data. Click the edit icon:
Please follow the detail in this article to finalise the Subscription request.
When your Funder approves your request, you will get an email notification and the request in Data Subscription will update to Approved:
How do I review the Funder's Products?
Once you have subscribed to your Funder's products, go to your Products Engine in Solutions/Loan Data/Product:
In your Collections, you will be able to see the 'subscribed from' selection:
Note that you can subscribe to multiple Funders. Simply follow the process to subscribe to all of your funders, and as they approve subscription, their Collections will become available in your Products Engine.
Click on the Collection that you want to now Edit/update to reflect your Product Names, etc.
When you click on the Funder's collection, you will then be able to see all the Funder's products, as they have been most recently published:
If you select a Product, you will note that you can see the entire configuration, but you are unable to update any of the configuration (all the fields are disabled):
eg you can see all the configured loan amount bands, LVR bands, and other features of the product, but y are unable to edit (as this remains your Funder's logic):
Same goes for the Fees, and the generated Rate Grid, where you will be able to see the Rate to Borrower on each of the Product Variations:
How do I update the Funders Products to reflect my Product Names, Rates, Fees?
As a subscriber, you will have a section at the bottom of the Product called Subscriber Customisation:
Expand this section, and you will be able to update the Name, Rate and Fees of the published Funder Product:
Updating the Name of your Product
To update the Funder's product name to yours, simply add the detail, for this product, in the Product Name/Retail Name section of the customisation. This will mean that when you use this product in your Loanapp and journeys, the name the user will see will be Whiz Bang Home Loan, rather than Kate's Basic Variable:
Updating the Interest Rate of your Product
This step may not be required. It will depend on how your Funder publishes their Products - as a Delivery Rate to you, that you then add margin to; or as the expected Rate to Borrower. Check the Rate Grid to see if you actually need to change the rate.
To check the Published rates, click on 'show base values' to make sure you are looking at your Funder's published rates. If you have not yet made any changes, when you toggle 'show base values' off and on, the rates should stay the same:
If the Rates look correct, your Funder will have published the full expected rates.
If you need to add margin, then you can add margin to your customisation. Here I have added 1% upfront and 0.20% trail to the Funder's published rate:
🚨 Note that you have to refresh the page for the rate grid to update
If you Click "Show base values", you will see the original published rate.
You will note you can also check by hovering over a Rate in the Rate grid, you will also get the original Funder published rate:
Updating the Fees of your Product
You may also want to update the fees that you are charging on your product.
All of the Funder's published fees will be available, for you to update. In the Fee section, click the + sign in the Fee Adjustments section:
This will present the published list of fees from your Funder for this product:
If you make NO changes to the Fees, then the fees as published by your Funder will remain the same, on your version of the product.
If you would like to alter a Fee, select the Fee, and you will be presented with the published amount, which you can then nominate to change:
Here I have selected the Establishment Fee, which your Funder has set at $600:
I can add $100, so now the fee will be $700:
You can do the same for all the Fees on the Product.
Once your overrides are set, then these changes will be what are published to your Loanapp and other journeys.
🚨Note that the customisation is PER product...you will need to work through all your Funder Products to make necessary changes to each product.
But once applied, they are set.