NOTE: This article is a guideline for using the older Silverlight version of rate sheets. If you'd like to read an article about the newer HTML5 version instead, click here.
- What is a Rate Sheet?
- Rate Sheets and High Priced Mortgage Loans for Small Creditors
- Caps and Floors
- Creating a Basic Rate Sheet
- Monitoring a Rate Sheet
- View Publishing History of a Rate Sheet
- Additional rate Sheet Features
What is a Rate Sheet?
A Rate Sheet is a collection of Rate Tables. Rate Sheets are typically used for setting and managing standardized pricing for Consumer Loan Products, Deposit Products and small Commercial Loan Products. A Rate Table is a collection of offered rates for a given set of Loan Amount or Deposit Amount ranges (also called "pricing tiers") with given Terms & Risk Grades. An example Rate Table is shown below:
Rate Sheets and High Priced Mortgage Loans (HPLMs) for small creditors
On January 10, 2014, the Consumer Financial Protection Bureau altered the rules defining High Priced Mortgage Loans (HPLMs) for small creditors which may affect some PrecisionLender clients. To use the HPML settings, your local administrator will need to configure your loan products to use the option "FFIEC/HDMA Lien Status".
- Related Feature Request : Increase HPML Margin for Small Creditors
Caps and Floors
As of March 2014, Rate Sheets can now include these additional settings IF your bank has enabled Advanced Caps & Floors:
- Floating Loans : Caps and Floors
- Adjustable Loans : Max Initial Adjustment, Max Periodic Adjustment, Max Lifetime Adjustment
Video : Creating a Basic Rate Sheet
Monitoring a Rate Sheet
The MarginMonitorTM automatically monitors designated rates against your target ROEs and alerts you when profitability falls below target levels. Specifically, each night PrecisionLender recalculates the profitability of each offer contained in your monitored rate sheets (using the most recent funding curves and assumptions) and compares the updated ROE against your target ROE. If a variance in profitability greater than your designated rules (described below) is identified, PrecisionLender will automatically send you an alert email notifying you of the exact offerings that are no longer meeting your target ROE (with associated links to those offerings).
To "turn on" the MarginMonitor, simply click the "Properties" tab located at the far right of any rate sheet screen. Then check the box in front of "Monitor the margins for this Rate Sheet". You should then complete the information requested information to establish your monitoring "rules".
View Publishing History of a Rate Sheet
Login to PrecisionLender
Click on Rate Sheets
Click on the rate sheet whose rate history you wish to see
Click the Publishing History tab
Here you will see the published history for this rate sheet.
To export the rate sheet, Click the document export icon on the far left. Once exported, the data can then be loaded into a spreadsheet or other tool as required.
To revert to a previous version of the rate sheet, Click blue arrow icon on the left.
To view the previous rate sheet, Click on on the name of the rate sheet for the date you wish to view.
This will open the rate sheet in a new window.
From here you can choose to Print the rate sheet or to save it as a PDF.
When you are done, click the x to close the window and return to PrecsionLender
Video : Using Additional Rate Sheet Features
To learn more about additional features and functionality of PrecisionLender's Rate Sheet tool, please watch the following short instruction video.
Topics covered include:
- How to publish and share your rate sheet
- Re-ordering rate tables
- Copying a rate table
- Using MarginMonitor
- Updating rate sheets to a new pricing date
- Understanding "Pricing Regions"