Product Hatching Ideas

Allow Ratesheet Adjustments via Profit/Cost Adjustments to be excluded from LLPA caps

Certain products have adjustment caps, such as HomeReady.  When creating a profit/cost adjustment as a Ratesheet Adjustment type, they cannot be set up to be excluded from this cap, though they need to be excluded, as they are not a standard LLPA.  If the adjustment applies in all situations, DIG can create the adjustment and set it so it is excluded.  However, clients such as Cardinal Financial and New Penn Financial, are now requesting a feature that allows them to set up lead source, user, or branch specific Ratesheet Adjustments via profit/cost adjustments, and make them exclusive of the adjustment cap.  Due to the specific nature of the adjustment, DIG cannot add these, and therefore, they cannot be excluded at this time.  It would add consistency to our system, to allow this functionality, and provide even greater flexibility to our system as we move forward.  As larger lenders start refining pricing in a tighter market, this type of request may become more common.

  • Dennis Lollman
  • Jul 25 2017
  • Moved to Prioritzation
Rating BOB-2
Revenue or Retention? Retention
Workaround Present No
Impact to Existing Customers Multiple
Customer ID(s) 28sebo01, 39npen01,23hall01
Business Value 3 - Important to moderate number, moderate impact on brand, moderate competitive advantage
Urgency 3 - Moderately time constrained
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  • Admin
    Lori Rezac commented
    August 10, 2017 15:59

    Impacted Products:

       -HomeReady and DU Refi Plus from FNMA.

       -Home Possible and Relief Refiannce from FHLMC.

    What is the quote volume for these products?

       -HomeReady - 6,139 in the last 30 days

       -DU Refi Plus - 2,571 in the last 30 days

       -Home Possible - 3,997 in the last 30 days

       -Relief Refinance - 1,148 in the last 30 days

    How many lenders support the impacted products?

       - see quote volume documents (individual lenders are listed as well).

    Is there any impact on point-in-time pricing?

       -Theresa looking into further - will make a DWQ and discuss further with Kyle.

       -Response: [9:14 AM]  PH-I-184 will have no impact on PITP. It is separated. Thanks!

    Home many are using the profit/cost adjustments?

       -Per Matt Anderson, we have 295 out of 298 customers utilizing the profit/cost adjustments.

  • Admin
    Lori Rezac commented
    August 17, 2017 17:24
  • Admin
    Lori Rezac commented
    August 18, 2017 16:13

    BOB Meeting Notes:

    • It was suggested a button be added to address this issue.
    • This applies to retail customers and only impacts those products with caps.
    • There is a potential DIG-related solution but it would take "hours" of work and maintenance would be difficult.

    Moving to BOB.