Frequently Asked Questions
Q: Why am I not seeing a specific program in the results?
A: Validate parameters such as term and amortization are accurate. If they are, the program may be ineligible. Click on the Ineligble tab to see these products.
Q: How can I see why a program is disqualified?
A: Click on Disq. in the Price Adj. column to see disqualification reasons.
Q: Why did the pricing change on a disqualified program?
A: The pricing available with you click on Disq. does not include your compensation. Once address the disqualification reason, the pricing will change to include your compensation.
Q: How do I see loan-level pricing adjustments?
A: Click on the number under the Price Adj. column to see a breakdown of adjustments.
Q: How can I price an Interest Only program?
A: Choose Interest Only in the 3 - Other Features dropdown.
Q: How can I price a DSCR program?
A: Choose DSCR or any of the other DSCR options in the 2 - Doc Type dropdown.
Q: How can I price a Prepayment Penalty (PPP) program?
A: Choose a prepayment penalty option in the 4 - Prepayment Penalty dropdown.
Q: How do I choose Lender Fee Buyout?
A: The Lender Fee Buyout option is a checkbox field named Admin Fee Waiver.
Q: Where do I enter the Borrower Paid Origination amount? How do I add the BPO Amount? Where do I enter the Borrower Paid Compensation? How do I add the BPC Amount?
A: You can enter your BPO amount in Fees & Disclosure or in Additional Loan Info on the URLA.
Q: Why is my compensation not a round number (e.g. 1.863%)?
A: Your compensation is calculated as a point adjustment based on the loan amount. If your comp has a flat amount, min, or max, this may cause your compensation to not be a round number.
Q: Is the Mortgage Insurance Quote or MI Quote accurate in Product & Pricing?
A: No. Unfortunately, Product & Pricing only shows the national MI quote provided by MGIC. The Fees & Disclosures show the national MI quote provided by Essent. Once your loan is submitted, the underwriter will run an MI comparison against our rate sheets across our four MI providers to provide you with the best price.
Q: Why can't I change the Purchase Price or Appraised Value fields?
A: If the Purchase Price or Appraised Value are entered on the application, you are unable to change them in the pricer. Update them on the application to change these amounts.
Q: Why can't I edit or change fields within pricing?
A: Some fields must be update on the application to change loan qualification (i.e. Purchase Price, Appraised Value, etc.).
Q: Why does the DTI not update on the loan even though I changed the value on the Product & Pricing?
A: You can enter the DTI to register for a loan program in Product & Pricing, but the DTI on the loan is always being calculated based on the liabilities, assets, etc.
Q: How do I change the program? Can I switch programs?
A: For unlocked loans, you can re-register for a different program. To re-register, they would need open the Product and Pricing page, then scroll down and select the "Reprice" option. Once you make re-register, our Disclosure Desk will be notified of the COC for loan program change. For locked loans, you will want to contact the Lock Desk.
Q: When can I lock my loan?
A: You can lock after registering a program and rate. You are not required to re-issue credit, complete the fees, run Dual AUS, or issue disclosures.
Lock Desk Cut-off Time: Monday-Friday, Excluding Federal Holidays
4:00pm PST – Conf Arm / FHA Arm / VA Arm / Jumbo / Non-QM
8:00pm PST - Conf Fixed / FHA / VA Fixed
Q: How do I lock my loan?
A: Once you register a program and rate, you will have the option to request a lock. From the pricing engine, click the ratesheet export button in the Actions column.
Q: Can I save a scenario for later?
A: Yes, you can save scenarios in the Quickpricer by using Favorites (the gold star).
Q: Can I change my comp plan?
Yes, we allow change comp plan at the beginning of the month. A mid-month change is possible if you have not registered a loan within that month.
Comp plan changes will be effective the next business day after we process it. For example, if a comp plan request is submitted after hours* on 5/12, our team will process it on 5/13 and it will be effective starting 5/14. We are unable to make any exceptions to this policy.
*After 3pm PST is considered after hours.