Product and pricing
Price the shelf on the same rules
that underwrite the loan
.
PricingEngine returns rate, points, and adjustments for every product the file fits. Eligibility comes from the same rules CreditDecisionEngine uses to decide the loan, so a quoted rate is a rate the file is eligible for.
A rate the file cannot qualify for is not a price.
Most shops price in one system and underwrite in another. Here decision and price read one rule set, and the MI premium comes off the same file.
CreditDecisionEngine
Decision
CreditDecisionEngine returns approve, refer, or decline against your credit policy.
PricingEngine
Price
PricingEngine returns rate, points, and adjustments for the products that decision says the file fits.
PMIPricer
MI
PMIPricer compares every carrier using the LTV, FICO, and product already on the file. No re-keying.
Rate sheets, adjustments, and eligibility in one engine.
RFP vocabulary
Product and pricing engine
Load your rate sheets and adjustments as rules. Change a floor once and every product that uses it updates.
Live rules
Live quotes
Every quote reads the current rules, not a PDF someone emailed last week. Fast enough to answer while the broker is on the phone.
Eligible
Best execution
Compare every program the file fits and pick the best rate the file is eligible for.
From a wholesale desk
“LoanPASS allows us to deliver top-tier reverse mortgage products with accuracy and speed.”
SVP Wholesale Lending, SmartFi
What lenders ask first.
What is a product and pricing engine?
A product and pricing engine (PPE) returns eligibility, rate, points, and adjustments for a loan scenario. In LoanPASS, eligibility is the CreditDecisionEngine decision, so a quoted rate is a rate the file is eligible for.
Can PricingEngine be our only PPE?
Yes. Pricing and eligibility run on one engine, so there is no second system to keep in sync.
Can PricingEngine price non-QM and business purpose loans?
Yes. Bank statement, DSCR, fix and flip, bridge, and any other program you can write as rules price on the same engine as the rest of the shelf. Eligibility overlays for each investor are rules too, so the price reflects the box the loan will sell into.
Does PricingEngine quote mortgage insurance?
No. PMIPricer does. It compares every carrier’s rate card against the loan facts already on the file and can run inside the pricing flow, so the loan officer never leaves the quote. The MI premium comes from the file, not from the pricing rules.
How fast do rate sheet or adjustment changes go live?
As soon as your team publishes the rule. Change a floor once and every product that uses it updates, with no release cycle and no vendor ticket. Every quote after that reads the current rules.
What comes back when we price a scenario?
Rate, points, and adjustments for every product the file fits, plus the eligibility behind each one. When the loan takes MI, PMIPricer can return the premium inside the same pricing flow, quoted from the LTV, FICO, product, and occupancy already on the file.
What does best execution mean in loan pricing?
Best execution is comparing every program the file fits and picking the best rate the file is eligible for. PricingEngine runs that comparison across your full product shelf in one request, so the loan officer is not pricing programs one at a time.
How does PricingEngine keep price and eligibility in sync?
Both read one rule set. CreditDecisionEngine decides the file against your credit policy, and PricingEngine prices only the products that decision says the file fits. There is no second system to sync, so a guideline change moves the price the moment it is published.
What is loan pricing software?
Loan pricing software takes a loan scenario and returns the rate, points, and adjustments for the products it fits. Most of it prices without checking eligibility, which is how a borrower hears a number the file cannot qualify for. PricingEngine is loan pricing software that returns eligibility with the price.
Where do rates and adjustments come from?
Your rate sheets and your guidelines, written as rules. Update a rule once and every quote after that reads the change.
Bring a rate sheet and a guideline set
We will load both as rules on the call and price a live deal on them, so you see the rate and the eligibility come back together.
Schedule a Demo