When faced with a collection of leases or loans to sell, it can be challenging to determine which deals are eligible for each lender. Here, you can also use the “Lender Rules for Salesforce” to apply lender criteria to your deals in Salesforce and determine a list of eligible lenders. This tool facilitates the setup of each lender’s credit criteria; e.g., minimum FICO scores, equipment types, industries. The software is also able to generate potential portfolio groups. A simple report can then be used to generate an extract of the deals eligible for sale.
No one likes to waste time and have to re-key deal information. Re-keying can be time consuming and increases the opportunity for human error. It’s ideal to allow your originators and/or partners, to submit a deal with just the click of a single button. The Tamarack Syndication for Salesforce app provides this useful functionality.
For brokers, this will save a considerable amount of time re-keying credit application information into a lender portal. While for lenders, offering brokers or vendors an API to submit deals will create a more seamless user experience and minimize re-keying mistakes. Tamarack has fully integrated lender APIs with Broker’s Salesforce instances using the Syndication for Salesforce app.
Salesforce.com features native functionality to build “Approval Processes.” Tamarack’s clients have used the configurable “Approval Processes” to implement authority rules for approving leases and loans. Using this functionality allows for more streamlined operations, complies with internal credit policies, and provides a comprehensive audit trail of the approval history. With some basic configuration, you can:
1. Setup Auto-Approval Rules (see Scorecard below)
2. Setup One or Many Approvers
3. Enforce Credit Authority limits
4. Lock records from further updates
The Approval Processes is mobile enabled in the Salesforce1 App allowing the approver to have remote access. From the Salesforce1 App, users can review credit bureau reports and exposure, as well as other credit elements and issue approvals directly from their mobile devices. In addition to credit approvals, the Approval Processes can also be used to approve vendors, programs, or credit policy exceptions.