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Date Available: Beta 3/31, Prod 4/28
Which customers are impacted?: Lenders using third-party fees.
Required?: Yes, this is a required release. Required releases are features that Blend wants to standardize in the codebase.
How to turn on: The warning message for outdated third-party fees will be automatically enabled on the dates listed above.
Lenders also have the option to require refreshed fees before completing certain actions, such as running underwriting (AUS), sending a Loan Cost Worksheet (LCW), or issuing a pre-approval letter (PAL). These controls can be configured within system settings. To enable or adjust this functionality, please contact support@blend.com.
Purpose of Update and Benefit: When loan pricing is updated without refreshing associated third-party fees (such as appraisal or title), the displayed fees may become outdated, resulting in a mismatch between pricing and borrower-facing costs.
This update introduces safeguards to help ensure fee accuracy. Users are alerted when fees may be out of date and can be required to refresh them before proceeding with key actions. This reduces the risk of presenting outdated costs, improves accuracy for borrowers, and provides lenders with greater control over when up-to-date fees are required.
Current Behavior: When updated pricing is run on a loan, no notification is shown if third-party fees have not been refreshed. As a result, fees displayed in outputs such as the Loan Cost Worksheet, AUS runs, and pre-approval letters may not reflect the most current pricing.
New Behavior: When loan pricing is updated and third-party fees have not been re-pulled, a clear warning message is displayed on the application page prompting the user to refresh fees to ensure accuracy.
Lenders can optionally configure the system to require up-to-date fees before completing certain actions, including:
Running underwriting (AUS)
Sending a Loan Cost Worksheet (LCW)
Sending a pre-approval letter (PAL)
If a user attempts one of these actions while fees are outdated, the action is blocked and a message is displayed explaining that fees must be refreshed before proceeding.
Once third-party fees are re-pulled, the warning message is removed and any action restrictions are automatically cleared.
Warning (Required)
Block AUS (Optional)
Block LCW (Optional)
Block PAL (Optional)
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