Scenario Builder with Open Application

Running Scenario Builder from an open application allows you to calculate and save different scenarios, and then select a scenario as the new mortgage. Up to 18 scenarios can be saved per mortgage in the application. This help topic covers the following topics:

Conditions to Access Scenario Builder

Calculating the Scenarios

Saving the Scenarios

Running Comparisons of Scenarios

Setting a Scenario as the Mortgage

Conditions to Access Scenario Builder

For Scenario Builder to be accessed from an open application, the deal status must be In Progress, Approved, or Submitted.

If any one mortgage in an open application has any of the following conditions, then Scenario Builder will not be accessible:
 

• The mortgage has an accepted lender response
• The mortgage is an MCM (Multi-Component Mortgage)
• The mortgage is an interest-only mortgage
• The mortgage is a Secured LOC
• The mortgage is missing any of the following pieces of information:
• • Mortgage Type (1st, 2nd or 3rd)
  • Net Rate
  • Payment Frequency
  • Compounded Period
  • Term
  • Amortization
  • Total Loan Amount.

Calculating the Scenarios

1. Click Scenario Builder from the Left Navigation pane. The Scenario Builder page appears with details automatically populated from the application.
   
   
   
   
   

2. If there is more than one mortgage on the application, select the option button (1st, 2nd, or 3rd) of the mortgage you want to examine. The screen refreshes with the details of the selected mortgage.
    

3. In the Scenario section, select the calculation type: Payment or Amortization.
    

4. If Payment was selected in step 3, you can change the following information: Interest Rate, Term, and Amortization. The monthly payment will therefore be calculated.
   
   or
   
   If Amortization was selected in step 3, you can change the following information: Interest Rate, Term, and Monthly Payment.
   
   Note: The Reset button disregards any changes you have made to the fields and returns the original values (i.e., the details in the Mortgage section on the screen).  
    

5. Click the Calculate button. The screen refreshes with the Scenario Analyzer section that displays the results of the following six mortgage scenarios: Monthly, Semi-Mothly, Bi-Weekly, Accelerated Bi-Weekly, Weekly, and Accelerated Weekly. (The screen shot below is based on the Payment calculation type, as indicated in the explanation below the title).
   
   Note: The compounded period will be the same of the selected mortgage (in the Mortgage section on screen).
   
   
   
    

Saving Scenarios

To save a scenario, select its Scenario to Save checkbox in the Scenario Analyzer section, and then click the Save Scenario button. The screen refreshes and the Saved Scenarios section displays the recently saved scenario(s). Expert allows up to 18 scenarios to be saved. Therefore if the limit has been reached, an error message will appear.

Deleting a Saved Scenario

To delete a saved scenario, select it in the Saved Scenarios section, and click the Delete Selected button.

Printing a Saved Scenario

To print a saved scenario, select it in the Saved Scenarios section, and click the Print Selected button.

Running Comparisons of Scenarios

You can compare up to three saved scenarios against the selected mortgage (the selected mortgage is displayed in the Mortgage section on the Scenario Builder page), complete the following steps:

1. In the Saved Scenarios section, select the scenarios you want to compare. You can select a maximum of three.
    

2. Click the Run Comparison button. The screen refreshes with the Scenario Comparison section displaying the results.

The "Replace Scenario" Feature

A scenario displayed in the Scenario Comparison section can be selected to populate the Scenario section on the Scenario Builder page. Select the option button of the desired scenario and click the Replace Scenario button. The screen refreshes and the Scenario section displays the details of the scenario.

Printing Comparisons

To print the comparisons displayed in the Scenario Comparison section, click the Print Comparison button. A PDF document is generated and opened in a separate window, from which you can print.

Setting a Scenario as the Mortgage

A scenario that has been run as a comparison can then be selected to be set as the new mortgage. Doing so will overwrite the mortgage information on the Application Edit screen.

1. From the Scenario Comparison section, select the scenario that is to replace the mortgage.
    

2. Click the Set Scenario As Mortgage button. The screen refreshes and the existing mortgage is replaced.