What if the lender doesn’t reduce the rate do I still have to pay for data collection?

You will be charged for the data collection, which needs to happen before we receive the pricing outcome. It's unfortunate if the lender doesn’t reduce the rate, but rest assured, Sherlok will challenge and escalate rates that are not competitive to try and get a better rate. At the end of the day, it's up to the lender what they choose to do.

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What if I change my mind after I select Sherlok to collect data will I still get charged?
Yes. You will be charged as soon as you select the option for Sherlok to collect loan data.
How does Sherlok collect the data on my behalf? What am I paying for?
A Sherlok team member will act on your behalf and contact the lender directly, either in their portal or by phone and collect the loan info.
When will I get charged for data collection?
If you select the option for a Sherlok team member to collect loan info on your behalf, you will be debited from your nominated credit card immediately. Sherlok will collate these transactions and send you a statement at the end of the month.
Sherlok's Data Collection Methods
When you approve Sherlok to reprice, a pop-up will appear, presenting the options that Sherlok can take to collect the data. Option 1 - Client Portal Sherlok will send your clients an SMS and email asking them to provide updated loan information via ...
How do I move Lender Reprice Responses to completed?
If you do not wish to send the client an email once the reprice has been completed, Click Send Email > Select your email template > Move to Completed. (See Below)

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