For loans that meet or exceed the loan's target return and have an initial fee less than 5% of the loan amount, Andi® will recommend adjusting the initial fee to increase the loan's ROE. The percent increase to the loan's ROE (X%) will be configured in the skill settings and used to calculate the fee increase (Y%). The message displayed to the Relationship Manager is: Add Y% to the Initial Fees to increase the ROE to about Z% (Current ROE * X%). If the Relationship Manager chooses to adjust the initial fee, Andi® will continue offering recommendations for the initial fee until a ceiling of 5% is reached.
This article will cover configuring and testing the skill, and viewing and enabling it in PrecisionLender.
Note: You must configure this skill in the skills manager prior to using it in PrecisionLender.
In This Article
- Configuring and Testing the Skill
- Viewing the Skill in PrecisionLender
- Enabling the Skill in Production
Configuring and Testing the Skill
Prior to enabling the skill for Production, you first need to ensure that the skill is working properly by testing it. To do this, navigate to the skill details page to configure and enable the skill for your Testing workgroup:
- Select Testing under the Status section.
- In the Version drop down, select a version of the skill that you would like to test.
- In the Skill Configs section on the skill details page, you can enter an amount in the following field:
- Desired ROE Increase - Enter an amount in this field to indicate how much the ROE should be increased by in bps. If needed, you can use a decimal point. You can also use the percentage sign, but this is optional.
- Select Save to enable the skill for the Testing workgroup. Once you've enabled this skill for testing, make sure you've added the users who will be testing the skill to the Testing workgroup.
Viewing the Skill in PrecisionLender
If the fees on the loan you're pricing exceeds the target return, Andi® will display the following message: 'Add X% to the Initial Fees to increase the ROE by X%'. This is the number that you've configured in the skills manager.
You can apply the suggestion Andi® has given by clicking on the message. This will update the applicable fields for you.
Note: Always remember to save the opportunity to apply your changes.
Enabling the Skill in Production
After you've viewed and tested the skill, you are ready to enable the skill for the Production workgroup.
- Navigate back to the skill details page for the skill you were testing and mark it as Ready For Production.
- In the Status section, select Production and choose the version of the skill you're enabling from the dropdown. When the latest skill version is published by the skill owner, this will automatically be available for selection in the list.
- Re-enter the skill configurations.
- Select Save to enable the skill for the Production workgroup.
Note: After enabling the skill in Production, we recommend disabling it for the Testing workgroup.