Currently, unless a lender has an investor that sends us LPMI as loan level adjustments on the rate sheet. We do not have the ability to pass LPMI. Currently lenders could send noMI = -1 parameter. But, it would be impossible to differentiate MI vs noMI in XML output when they are using Mortech Product ID’s to map. It is possible to create a new set of ProductID’s they can query reflecting LPMI.
Not sure if it would be best to set up a new set of productIds, rather we should look at two solutions:
1. Creating Custom Fields: If we create custom fields, and allow adjustments off of those custom fields, They could create an LPMI field and then build their LPMI pricing in to an adjustment.
2. Build out to the MI providers to return LPMI. By doing this, we would get back pricing and eligibility for all LPMI quotes and automate the process for lenders. This would also minimize the amount of work required by DIG to get rates in to our system.
|Revenue or Retention?||Retention|
|Impact to Existing Customers|
|Business Value||3 - Important to moderate number, moderate impact on brand, moderate competitive advantage|
|Urgency||2 - Minimally time constrained|