Pricing Scenarios in Quick Pricer
Pricing a Scenario
The Quick Pricer allows you to price your loan scenario without importing a loan. From the Quick Start section, click on QuickPricer and select Launch Quick Pricer.
Complete all the loan and property information. Any fields marked with a red X as well as the Estimated Credit Score under Other Information are required.
We recommend setting the Expected AUS Response to either DU Approve/Eligible or LP Accept/Eligible to increase potential results.
Now, choose your pricing filters - the Terms, Amortization Type and Product Type and Price for your preferred loan program.
Pricing Results
The results will display below the pricing filters, showing all eligible and ineligible loan programs. The rate, point, payment, DTI, APR, Closing Costs, Reserve Months, and Loan Preview will populate for each eligible loan program.
A. DTI - A double asterisk (**) means that the maximum DTI has been exceeded for this loan program. Clicking on it will display the max DTI for that product.
B. ClosingCosts - Clicking on the dollar amount shows a breakdown of the Estimated Closing Costs. (Note: This estimate excludes any additional fees you may add on your Fee Worksheet)
C. LoanPreview – By clicking on the program name, a loan preview will summarize the loan details, pricing, the originator compensation, and a list of default conditions.
If your preferred program is not displayed, the loan might be ineligible for that program. You can review the reasons for ineligibility under Display Ineligible Loan Programs.
Monitoring Rates
If your preferred rate is not available, you can save and monitor the loan scenario. An email will notify you when the rate becomes available. Simply, click monitor rates next to your preferred loan program.
You will need to name the loan scenario, enter your preferred rate and point, provide your email address and Confirm.
To review your monitored rates, click on QuickPricer and select Monitored Scenarios from the Quick Start section.
This allows you to view and delete your saved scenarios.
You will only be if the rate becomes available, which is dependent on market changes.
You can click on the download to view the scenario and pricing.
