Product Hatching Ideas

Allow ability to create profit/cost adjustment based off of MI type

We currently do not support some investor's LPMI products due to lack of LPMI adjustments on their rate sheet.  If we took this burden off our shoulders, required the marksman user to manage those adjustments, we could begin pricing these products expanding our capabilities.  In addition, investors and clients require adjustments based off of MI type depending on different users, branches or lead sources.  Not just investor, product, ltv or fico.

  • Mike Russell
  • Sep 28 2017
  • Moved to Prioritzation
Rating BOB-2
Revenue or Retention? Retention
Workaround Present No
Impact to Existing Customers Multiple
Customer ID(s) 28sebo01, 05ldpt01, Caliber as an investor we could then support (active in over 60 accounts).
Business Value 2 - Important to a few, minor impact on brand, minor competitive advantage
Urgency 3 - Moderately time constrained
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  • Admin
    Lori Rezac commented
    October 5, 2017 19:43

    Just to clarify, the user would be able to enter and manage their LPMI through profit/cost adjustments?  The description states we cannot support these because they do not have adjustments.  Are the adjustments not on their rate sheet?  Or do they not exist?

    Please include example rate sheets to show the difference between what we can support and what we cannot.

    The MI type request may be another ticket.  Can you provide examples of this issue?

  • Mike Russell commented
    October 12, 2017 14:16

    Yes, the user can control their own LPMI adjustments within the profit and cost adjustments for proprietary sheets as well as the LPMI adjustments that investors impose we do not support. In addition, lenders themselves require the ability to have additional adjustments to LPMI scenarios.

    Caliber, for instance, has LPMI products but do not have LPMI adjustments on the ratesheet, therefore we do not support.  If the client had the ability to control these adjustments, we could support these products but clearly explain they must maintain any LPMI adjustments that apply.  See attached guide indicating lpmi is acceptable, but then see rate sheet where no adjustments stated.  US Bank on the other hand, clearly have LPMI adjustments and we do support.

    Cardinal Financial has different lpmi adjustments for different lending channels that both hit off the same sheet.  Therefore, they need to apply adjustments at the lead source, user or branch level based off one or two rate sheets.  ONLY way to do this is a profit/cost adjustment.  DIG only has ability to apply customer add-ins at rate sheet or account level.  Not lead source, user or branch.  This applies to their account and themselves as an investor.