Captures Facts and Circumstances of a Borrower Loan Scenario
The Loan Scenario Report allows Originators to capture the facts and circumstances associated with the loan offers discussed with borrowers. The report documents the basic information regarding a borrower's loan scenario and for the product chosen identifies:
- The rate offer selected.
- The best rate offer with points paid and the best rate at no cost.
- Comparable rate offer options for FHA and Interest Only.
- A range of rate offers the borrower was eligible for that were shown to the originator.
LO Compensation user roles activate the Loan Scenario Report and provide additional controls to require a loan officer to view and enter comments on the report prior to submitting a lock request.
The Loan Scenario Report supports a more consultative discussion with borrowers, provides evidence of safe harbor and helps you better manage the quality of loan offer discussions across your sales team.
