Adding Loan Products & Rates |
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To add a loan product...
- Click Add Product.
- When the Edit Product Details window appears, type a name
for your new loan product in the Loan Product Name field.
Note: This is what your customers see when they are reviewing your rates. If you have several loan products that have the same name and yet differ by type, you need to indicate this in this field to prevent from confusing your customers. For example, if you have two loans with the exact same rates, but one is jumbo and one is not, you'd want to include the word "Jumbo" in this field to clarify the difference between the two loan products for your customers.
- Enter an appropriate description for the loan product in the Description field. Bear in mind that this description if for your reference only and is not visible to your clients.
- If your loan product is either a fixed rate or ARM product, check the
Calculate APR Automatically box and enter the details and
fees for your loan product in the fields below, otherwise, skip to the next
step.
Hint: For more information about how we calculate APR, see the Calculating the APR section of this user guide. - When you're finished, click Save to continue adding your rates.
- When the Edit Rates window appears, click Add
New to add the rate, points, lock days, and APR details to your
product.
Note: If you selected the Calculate APR Automatically option for your fixed rate or ARM product in the Edit Product Details window, you cannot edit the APR as it's automatically calculated here. 
- Use the up and down arrows beside each rate to organize the order of their appearance when customers view your rates online.
- When you're finished, click Save to return to the main Rates tool where you can add additional loan products.
- Repeat steps 1-8 to complete your entire Rate Sheet.
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