There have been lenders who requested the average rate upload time for their rate sheets. We currently do not have this metric internally or to provide for a customer.
Brian Kohel also stated Lending Home 05lhom01 is also wanting this metric. Essentially these lender/investors are looking for the average time it takes over a month/quarterly for their rate sheets, from time we received them, to upload into Marksman for pricing. We currently state it can take up to 20 minutes to protect against any issues we may run into.
I have been informed that it usually takes around 5 minutes as a global average but it depends on when it is received. We look for rate sheets every 5 minutes so depending on which side of the 5 minute mark it can fluctuate based on time of receipt. In PNC's case, Jessica stated, due to the size of the sheet it takes around 6 minutes for the sheet itself to upload.
In the case of PNC they have quarterly evaluations on specific metrics. This is one of those metrics. Julia has checked the contract and there is no verbiage that requires us to provide this information. It is possible if not probable they will want to add this to the contract upon their renewal. It would be worthwhile to get ahead of this before it becomes a contractual issue and the size of the other lenders with the same inquiry helps support the need and avoid any further contractual issues.
They are requesting the hard data in an automated fashion. This is information that is already available - customers just want a report. PNC does a compliance check quarterly where they need this data.
Compliance stated we have no SLA on this and no contract with Citi.
Is this something we could monetize? Is this a part of a bigger project (investor portal)?
It was determined further discussion would be needed to determine the best course of action on this one.
We need to determine exactly what the end user is looking for -
Do they want to report on when we received or when they sent the file?
Would this open us up to the customer arguing the number?
Can they calculate on their end if we provide the time it was uploaded?
When they sent us the file could be hard to nail down.
Zac will need to further define these.
We apparently get this request a lot as due diligence on their end. The suggestion to monetize this was brought up again if we are going to go forward with this.
Once Zac provides this additional information, we can move this to BOB.
|Revenue or Retention?||Revenue|
|Impact to Existing Customers||Multiple|
|Customer ID(s)||44bofa01, citimg01, 39pncb01, 05lhom01|
|Business Value||1 - Important to a few or none, little or no impact on brand, little or no competitive advantage|
|Urgency||1 - Not time constrained|