The Optimal Blue- Check Rates feature allows the loan officers to quickly search Optimal Blue pricing engine without creating a loan.
Optimal Blue - Check Rates
1. Click Check rates on the Pipeline screen.
2. Select the desired loan purpose from the drop-down menu.
3. Fill out information on the Search Pricing Engine screen.
4. Click Search.
Note: If any required information is missing, the system will prompt you.
a. Product name: Rates are sorted into products.
b. Credit/Costs (%): This represents points. 0 means par rate.
c. Credit/Costs ($): A negative means the borrower is paying this amount. The positive amount means the lender is paying.
d. Monthly payment: When monthly payment is selected, it will be surfaced in the toolbar on the application page.
e. View details: Click to see details of the loan and pricing.
f. Refine Search: It will take you back to the Search Pricing Screen.
5. Click the desired product to expand results.
6. All eligible products under the selected product will display.
7. Click View details for more information on the product.
8. Click Close.
[NEW] LOs have access to multiple loan products, which they can fine tune to match their borrower’s goals, needs, and situation. When a new product is selected in the Optimal Blue Pricing engine, it will show up here.
1) From the Scenarios tab on the application page
A new “Scenarios” tab will appear on the loan page.
Upon clicking the tab, the user will be able to create, edit, and compare different loan scenarios.
Note: “Add a New Scenario” will only function if the pricing integration configured.
2) From the Pipeline page, through Check Rates (Before an application is created)
On the pipeline page, enter the “Check Rates” workflow:
Conduct a pricing search to reach an updated pricing page. To select a different rate for the product, click on the interest rate link.
Clicking “Create New Application” will save these scenarios to a new loan.
3) From the Select Product button on the application page
If the user clicks Select Product on the Application page as before:
The user can still click Select Product at the end of the pricing search to update the product. However, the user is now also presented with the ability to add any product as a new scenario.
- Search results cannot be saved
- You can go back and refine the search but will not be able to save it
DISCLAIMER: All mentioned features on this page may not be applicable to your institution, please reach out to (firstname.lastname@example.org) for more information on what features are enabled for your use.