Sherlok Managed Service

Sherlok Managed Service

At Sherlok, our Managed Service is more than just a tool—it's an extension of your team. We provide a tailored solution for mortgage brokers who seek a hassle-free approach to client reviews and repricing.


Functioning as a white-glove service, it alleviates the burden on brokers, ensuring that all clients undergo frequent reviews and repricing's without the need for active management. With a commitment to simplicity, efficiency, and affordability, Sherlok's Managed Service liberates brokers from the necessity of hiring full-time staff or incurring additional costs.

This, in turn, allows brokers the bandwidth to concentrate on revenue-generating opportunities, such as cultivating relationships with new clients. The genesis of our Managed Service stems from broker demand, exemplifying Sherlok's dedication to ensuring brokers effortlessly safeguard the financial well-being of their clients while protecting trail book revenue.

Outline: Sherlok Managed Service Offer

Typically, it's costs a broker around $2k per month, depending on if they're onshore or offshore. This doesn't include recruitment costs, time for training, or ongoing employment costs. 


Sherlok's Managed Service offers the same value of loan admin at a fraction of the cost.  


We can do this because we've built technology that significantly reduces the volume of manual repricing tasks, which requires less admin time. 

Other direct savings that are less tangible but provide a direct ROI include no recruitment or set up cost, no ongoing staff training, no critical person risk if they were to leave, no office or other overhead requirements, no time investment in PD, upskilling or training.


Sherlok Manages Service Inclusions


Rate reviews every 6 months for all clients that are not fixed. Fixed rate clients will be reviewed within 90 days of expiry.

Monthly reporting of all clients that have had a rate review completed

Manual Data Collection included (open banking remains the preferred method with Manual Data Collection as a fallback if no consent is given)

Manage lender credentials (expiry dates, update new passwords, etc.)

Manage the entire reprice process end to end (submission, in progress, stuck, escalation, completion & confirmation of rate being applied) 

Managing communication of outcomes to the client (email or can be aligned to broker preference)

Rate Negotiation: Brokers love our ability to call the lender's retention team to secure better rates, ensuring client satisfaction. 

Equity Monitoring: Our proactive Equity Monitoring alerts you to clients who can leverage their equity, based on LVR and property value, sparking strategic conversations.

Orphan book management (contacting clients before repricing and completing open banking consent)

Pre-reprice call to the client to outline the repricing process and open banking consent

Sample checks to ensure new rates are being applied post-approval


Costs

The cost depends on the size of your back book, but rest assured it comes at a fraction of what it costs to hire a team member or the opportunity cost if a broker is spending time doing reviews.


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