00:00IcePPE is a powerful pricing tool integrated within the Encompass Mortgage Software Solution.
00:12It streamlines pricing, locks, and compliance, enhancing growth, efficiency, and profitability
00:19in a single platform.
00:20With IcePPE, you can quickly access rates, verify eligibility, maintain accurate data,
00:27and stay updated on changes that impact loan scenarios.
00:31In this demo, you'll see how IcePPE can help you minimize the time spent on the most labor-intensive
00:37lock test tasks.
00:39Joey Waters from Ice Mortgage Technology is joining us.
00:43Joey, take us through IcePPE.
00:45Absolutely.
00:46So, here I am logged into Encompass Web as my own officer.
00:53Simply open up the file, and I'll show you a little bit of the new UI.
00:56So, yep, while utilizing Encompass Web, we'll hop into the file, make our way to the Tools
01:02tab and Lock Request form.
01:06Once we scroll down here to the bottom, we can simply launch out to the Pricing, we'll
01:11get pricing.
01:14So IcePPE will load up based off all the parameters in the file, and it will pull up pricing for
01:19the user.
01:20Once they're ready to select the price, they just simply click the rate.
01:29Takes them over to the Summary page, gives them a breakdown of all the base price and
01:33the LLPAs.
01:34Simply request the lock.
01:42I do have auto-lock functionality turned on, so to expedite this a little bit, so this
01:47will automatically lock the file for the user.
01:49There we go.
01:51You can see up top right here that it shows that it is locked.
01:56Now that it's locked, we can utilize the...I can show you guys a little bit of some of
02:01the functionality with the auto-validation of material data changes, our Lock Comparison
02:06tool.
02:07And so I'll actually hop out of this file real quick, or actually, before I hop out,
02:10let's make a few changes, and then we'll show you how the validation tool works, or the
02:16Lock Comparison tool.
02:20So they come down here, and they make a change to the FICO, or they can come down and make
02:25a change to one of the down payments or the purchase price.
02:29So this is locked, so they're actually locked out of it right now.
02:32Let me hop out and pull that up with my secondary, and we'll make that change, and I'll show
02:37you in real time.
02:46Yeah, this is the one we just locked right here.
02:53If I were to hop in and make a change to this file, put the down payment, say it's only
03:0125% now, it'll update.
03:07So if I go down to the Tools tab again and hit the Lock Comparison tool, once I save
03:18it, you'll see that the Lock Comparison screen loads up, and it's going to show me that I
03:22have five fields that have changed, and also that it needs validation.
03:26So the really cool thing about this tool right here is that you can customize these fields
03:30that are being checked.
03:31You can identify up to 50 fields, and with those 50 fields that you find important for
03:36the loan data, you can do a real-time comparison.
03:39So anytime something changes, it will notify you.
03:42You can have it set up to where it shoots out emails.
03:44You can have it to auto-validate, where it will automatically run pricing and see if
03:48it's affected, if the loan is still eligible.
03:51You can have it automatically update the file as well.
03:54A couple of key points for that would be a disclosure team.
03:57If they get notified, they can hop in and see, hey, do I need to resend disclosures?
04:02They can come to this screen and see if it still needs validation.
04:05If it does, then they know that they need to hold off and wait till it gets updated.
04:09This is a very powerful tool.
04:11Let's say a loan or a processor is working late at night or something like that.
04:15They make an update to the file.
04:17They forget to submit the change.
04:18That way, this tool automatically running multiple times a day.
04:22Every time they save it, you can have this tool fire.
04:26There's no surprises when it comes clear to close and docs are being dropped.
04:30Once your team is notified, if you don't have it auto-validating, you can come in here and
04:34simply click the validate pricing tool or pricing button, my bad, and this will load
04:42up the ice PPE again.
04:44And so what this is going to do is it's going to show you in real time what the original
04:48price was and what the new proposed price is.
04:51And here we go.
04:52So you have the active lock right here and you have the proposed pricing.
04:56You can see that the hit to the LTV and FICO had increased by half a point and your new
05:00price is now 99.75, a drop from half a point down to from par spot 375.
05:08So your team can see this in real time right here.
05:10If I want to update the lock, I simply just click update.
05:13If I want to deny it or cancel, I also have that capability as well.
05:18You also have a really cool new tool for us and it helps streamline a lot of the processes
05:23is the analyzers.
05:24The analyzers basically give you a breakdown of where pricing is at time of lock, anytime
05:31it's been changed or when it was requested.
05:35So here's my current price.
05:36If I scroll down, this one's been updated a few times.
05:39I even have my lock request, but you can see the price is still the same and it even highlights
05:43worst case.
05:44The really cool functionality with this is when I click up here at compare rates, it's
05:49going to open up a screen that has three columns basically for me and I can come in here and
05:54compare pricing in real time without having to do any digging or anything like that.
05:59If it's a relock, let's say this file was locked originally back in maybe November.
06:06I could simply come back, click on like the 11th whenever it was supposedly locked and
06:11I could click on the time.
06:13When I click off of it, it will compare pricing to that time.
06:18So on November 11th, 7% was actually at par spot 625.
06:22So you can see that the market was significantly better.
06:25If this were falling into your relock policy, you would know that the worst case pricing
06:29truly is today's request.
06:31So you can make that update and proceed with that lock if you wanted to.
06:35If it were the other way around and this were the worst pricing, you could then select it
06:40and relock it with that day's pricing without having to go back and dig through a bunch
06:44of rate sheets or anything like that.
06:46You'll be able to see the relock pricing right here on the screen.
06:50Another functionality for this would be for any renegotiations.
06:53When the market does finally come back and improve, we might see a lot of renegotiations
06:57if there's a sudden shift in the market.
07:00This way, based off of your policy, you could compare the data and you could then update
07:04however you see fit.
07:06And you can do this up to three different columns as well.
07:09These are two big highlighted features that we think are going to be a big time saver
07:12for a lot of our clients.
07:14And if you do want to proceed with either one, you simply just click on the button and
07:17you can apply the new price if you'd like.
07:26And it's going to accept the lock update if I want, and that will push over in real time.
07:32So both of those is lock comparison tool and you can manage that in your admin settings.
07:38You can do any up to 50 fields if there's a field that you want that's a custom one,
07:41you can add that as a custom field and then mirror that field and it will then pull in
07:45and monitor those for you as well.
07:54And now that's been updated and there's no longer a need for validation.
07:59So kind of killing two birds with one stone there, highlighting our lock comparison tool
08:03with the auto validation and you can run business workflow management rules to have that auto
08:08update for you.
08:09And then also showing you a little bit of the analyzer functionality that we have as
08:13well to kind of keep this, um, keep you more streamlined and more efficient.
08:17Nobody likes to waste their time and digging through all of the, uh, the rate sheets and
08:20old historical pricing when you can simply just click a few buttons and you have that
08:24available for you right there.
08:26Now as far as on encompass web, you can also highlight a few of the other features we have
08:31that we rolled out with 24.2 and 24.3 if I were to hop into the locker quest form.
08:37We also added, uh, in company or excuse me, ice PPE user roles.
08:42Think of it like encompass personas.
08:44You can now grant access and authority based off of a role.
08:48So those are a couple of highlighted features.
08:50I like to show this off.
08:51I think it's a really cool feature.
08:53If I were coming in here and potentially having an LO that's having issue pricing out a non
08:58QM or any niche file, something that is just not easy to price.
09:03If I come back here to the search tab, I have this right here, my loan officer.
09:08This is an assigned loan officer functionality that is not standard with most users, but
09:14with your lock desk and admin, you have that ability.
09:17I could then come in here in real time and price this out as any of my loan officers
09:21that I like.
09:22So I could come in here and price this out as myself, Joey waters, the loan officer and
09:26in his search and it will update in real time.
09:30I believe we might have the same margins.
09:32I'm not a hundred percent sure, but it would update and pull up the pricing with that user
09:37right there.
09:38So if I have a client or I have a, an LO that's having issues, I can simply pull this up,
09:44clarify what the issue was in their pricing scenario and let them go in and update it.
09:48Or I could update it and save it for them.
09:50And then they would have the ability to come in.
09:52When I do this, this is the exact view that the loan officer would see with their permissions.
09:58So it kind of helps you as a lock desk, secondary team to help hop in without having to memorize
10:02logins or maybe jumping back and forth to help out a user.
10:06You can just hop in with your credentials to make that change.
10:11And those are a couple of the highlights that I really wanted to showcase here with our
10:14time.
10:15I know it's a little short, but I think these are some of the big features we have.
10:18And then, you know, if you want more information, definitely a demo I'd recommend setting up.
10:23Joey, thank you so much for taking us through this brief demo of Ice Mortgage Technologies
10:29product and pricing engine.
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