New Penn received pricing via xml call, and has an issue when no par pricing can be found.
It relates to the QM pts and fees test. When there is no available par rate on a loan, all point are included in the test. If we don’t identify loans in which there is no par rate, we could have fail passes and potentially non-compliant loans.
This would impact anyone getting pricing through our third party documentation, so creating a flag warning them that no par rate is available, would be a compliance benefit.
***Attached is the XML. The call is for a target price of -2.25, but that final price cannot be found. New Penn would like the XML response to contain a flag that no par pricing found, so they can make sure their system catches that.***
No par rates - flag is thrown in Marksman to warn user.
An example of the XML was requested - will be provided by Dennis. This will help to determine the use case. Documentation can also be added to the Help Center to assist with future troubleshooting.
Further discussion is needed with this ticket - no official rating was provided. Will discuss again in the next BOB meeting.
Lender should be doing this on their side? We have no direct contact with their technical side to explain this. This is more a convenience item for the customer. This has been voted to not implement at this time.
|Revenue or Retention?||Other|
|Impact to Existing Customers||Multiple|
|Customer ID(s)||39npen01, along with anyone getting pricing via third party call|
|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|