Currently Chase and Flagstar should not price unless MI has N/A selected (the way Caliber currently works). This unfortunately affects QS and will not allow these investors to push to quote services (.
Is there a way to allow Chase, Flagstar and Caliber to price Non Conf correctly (MI=N/A) and still work in QS?
To support in Marksman, we restrict borrower and lender paid MI within the DNA sheet so it will only return eligible if N/A is selected.
When we restrict MI in this manner, it causes the lender to no longer return results in Quote Service. This is because if the LTV selected online is over 80 LTV, we believe it defaults to BPMI (borrower paid mortgage insurance).
Attached is a list of all investors that could be impacted (investors that allow NonConforming products to price over 80 LTV.
According to the attached document, there are 100 investors that are potentially impacted by the decision we make here.
Of these 100:
*13 do not specify if MI is allowed or not.
*29 either permit or require MI.
*71 do not require or permit MI.
Acopia Capital requires MI on one of their NonConforming products over 80 LTV, but does not allow MI on another one of their products.
|Revenue or Retention?||Retention|
|Impact to Existing Customers||Multiple|
|Customer ID(s)||L10074a, anyone that prices Chase, Flagstar, Caliber non conf products|
|Business Value||5 - Extremely important to most or all, extreme impact on brand, critical to success of business|
|Urgency||5 - Extremely time constrained|