Reduce number of mortgage insurance rate quote requests within the pricing search workflow

Date Available:

Beta 5/23, Prod 6/20

Which customers are impacted?:

Customers who have enabled the Private Mortgage Insurance feature in Blend.

How to turn on: This feature will be automatically enabled for all customers on the dates listed above.

Purpose of Update and Benefit:

Today, Blend generates a mortgage insurance (MI) request for every single eligible product option returned from the pricing search response. In cases where there are a high number of eligible products returned, this creates a high load of MI quote requests that can slow down the pricing search. This release will limit the number of MI requests Blend makes per pricing search, which should help improve performance for loan teams using our pricing and private mortgage insurance products.

Current Behavior:

Blend generates a mortgage insurance (MI) request for every single product option returned as eligible in the pricing search.

New Behavior:

We have updated our logic for determining how many MI quotes to generate off of a higher-level set of attributes:

• Amortization period (maturityPeriod)
• Amortization type (type)
• Affordable loan program (affordableLoanProgramIndicator)

Based on the following data points we would only make a single MI quote request for multiple product options with the following attributes:

• Category 1: (maturityPeriod > 20 and type = Fixed, OR type = Adjustable) and affordableLoanProgramIndicator = false
• Category 2: maturityPeriod <= 20 with type = Fixed and affordableLoanProgramIndicator = false
• Category 3: (maturityPeriod > 20 and type = Fixed, OR type = Adjustable) and affordableLoanProgramIndicator = true
• Category 4: maturityPeriod <= 20 with type = Fixed and affordableLoanProgramIndicator = true

0 Votes