‘Loan Details’ Widget

The Loan Details widget is a central source for all critical information related to the subject mortgage. It efficiently gathers and displays essential data, including the requested mortgage specifics, associated terms (mortgage and commitment), closing instructions, broker commissions, existing mortgages, down payments, fees, securities, insurance, and, where applicable, lending aggregates.

Designed for optimal usability, the widget features an intuitive layout and dynamic tools that significantly simplify navigation and boost efficiency. This empowers lenders to quickly access, analyze, and act upon key details. This guide offers a comprehensive breakdown of the widget's components, covering tabs such as Application, Requested Mortgage, Fees, and Insurance. Utilizing this document will provide the necessary insights and tools to streamline workflows and support well-informed decision-making.

The Loan Details Widget offers several key features for effective loan management:

Loan Details Widget Tabs

These tabs provide a structured way to navigate the widget's comprehensive features. Each tab focuses on a specific aspect of loan management, allowing users to view relevant fields and content by clicking on it. The specific tabs available may vary depending on client requirements. Detailed explanations of each tab are provided within this guide.

Edit Mode Button

To modify information within the widget, users must activate Edit Mode by clicking the pencil icon located in the top-right corner. Once changes are complete, clicking the Close Edit Mode button saves updates and returns the widget to view-only mode, which helps maintain data integrity and prevents accidental modifications.

Tool Tips

Represented by an information icon ( ), these on-screen prompts offer contextual information for selected fields. Clicking the icon displays concise explanations or formulas, clarifying functionality and expected data inputs.

‘Application’ Tab

The Application tab is essentially a high level summary of the application indicating the application type, purpose, classification, source of business, fund (if applicable), whether it is a multi product or not, the Total Loan Amount, and any custom fields added to the application entity.

Custom Fields

The application entity is one of the few places in the application Lenders can configure Custom Fields. These are configured via Custom Fields in the Manager Portal. Custom fields added in the application entity in the Manager Portal will be identified by an ellipsis to the right as seen below.

Any that are configured with the application entity will appear in the Requested Mortgage tab below the hardcoded fields in alphabetical order making it easier to identify them.

‘Requested Mortgage’ Tab

The requested mortgage tab houses information about the mortgage being applied for. This information consists of the mortgage terms, applicable dates (Closing Date, First Regular Payment Date, Maturity Date, & Interest Adjustment Date), and product information. The requested mortgage tab is further segmented into sub tabs consisting of Commitment, Mortgage Terms, Amount To Be Advanced, Closing Instructions, and Broker Commission. These sub tabs break down the data in the Requested Mortgage tab. To show or hide the housed tabs, simply hover to the right of the Requested Mortgage tab until an arrow appears. Click on the arrow to hide the tabs when it is pointing up, or to view the tabs when it is pointing down.

An asterisk beside the labels in the Loan Type and Loan Amount fields indicates that these fields are mandatory.

Requested Mortgage Field Name Search Box - This is located above the Google map section. In the search box, you are able to enter text/keywords related to the name of the fields. All fields containing the search criteria will be highlighted in the details section.

Custom Fields

The mortgage entity is one of the few places in the application Lenders can configure Custom Fields. These are configured via Custom Fields in the Manager Portal. Custom fields added in the mortgage entity in the Manager Portal will be identified by an ellipsis to the right as seen below.

Any that are configured with the Mortgage entity will appear in the Requested Mortgage tab below the hardcoded fields in alphabetical order making it easier to identify them.

Note: We do not map custom fields due to their dynamic nature. These fields can be created, changed, and deleted at any time so we cannot count on them to be reliable inputs for mappings in general.

Note: The Rate Type field from Finmo submissions that previously appeared as "Variable" is now mapped to "Adjustable" in FundMore during ingestion. This ensures that the correct rate type is reflected in the UI and reporting, addressing issues where "Variable" was incorrectly displayed due to the absence of an Adjustable option in the Finmo dropdown.

Google Maps View

FundMore AI is integrated with Google Maps. As you begin typing an address into the system, a list of options will typically appear below, similar to what you are entering. With the integration of Google Maps, the system not only pinpoints the address but also provides a Google Street view of the property's location in the Property Details pop-up. If Google Street view is not available for the property, the map will default to Google Satellite view.

What is visible in the Requested Mortgages tab is a minimal view of Google Maps. If you choose ‘View in Google Maps’ you will be redirected to a street view of the property in Google Maps with full Google maps functionality.

The Google Maps feature offers a variety of options for users to utilize. These options include toggling to full screen, dragging and dropping to move around the map, rotating the view, zooming in and out, moving forward and backward, and viewing other Google Maps options.

Drag and Drop View - To navigate to a different location on the map, simply hover over it until an arrow appears. You can then click on the arrow and drag it around to explore the map.

Rotate View - Select the arrows in the icon to rotate the map with the compass clockwise or counterclockwise.

Zoom In - Click this button to zoom in.

Zoom Out - Click this button to zoom out.

Arrow Pointing Left - Clicking on this arrow provides the user with additional view options for Google Maps (as seen below). You can select the option that you would like to view from the available choices.

Show Location On Map - When this button is clicked, a new tab will open and the user will be redirected to a location viewable on Google Maps.

Address Details

The orange note icon located to the right of the address field opens a pop up screen that displays the address broken out into individual fields. When you are in the 'Loan Details' widget's edit mode, clicking on the orange icon will open a pop-up window containing an editable version of the Address Details. This feature allows you to edit specific fields without having to retype the entire address. After making your changes, click the 'Save' button in the bottom left corner to save and close the window, or you can choose to cancel if needed.

For lenders using the FCT integration:

Please note that FCT imposes a limit of 10 characters in the Street Number field. This count includes numbers, spaces, and special characters.

If the street number exceeds this limit, an error will occur when attempting to send the file to FCT. For example, “1234 - 1238” contains 11 characters because the spaces on either side of the dash are included in the count.

Click on the icon next to the address to copy it.

View Property Details Pop-Up

To view detailed information about each property listed in the application, you can access the corresponding Property Details pop-up. This pop-up contains different tabs that provide all the necessary information specific to each property.

For the subject property, you can access the Property Details pop-up by clicking on the 'expand' icon () in the Requested Mortgage tab in Loan Details or in the property tab within the Net Worth widget in the details column. For all other properties owned, you can access the details through the Net Worth widget in the "Property" section.

In addition to viewing property information, you can also request a Property Valuation using 'Verisk' or verify and update property details using the 'iClarify Request Residential Building' information. To access the AVM or Building info, simply click on the ellipsis located in the top right-hand corner. For more detailed information on the functionality of this section, please refer to our Property Details Pop Up Product Feature Guide.

Tooltips - Tooltips can be found throughout the application. The tooltips icon (), if applicable, is located to the right of the field name as seen below.

When you click on the tooltip, a drop-down menu will appear providing information about the field. This includes details such as the formula and values used in the field, or a brief description of the field itself.

Product Field

If your company has set up a product matrix in the Manager Portal, you have the option to choose from a list of eligible products in this field to apply to your application.

The rate and terms of your selected product may automatically update depending on the level of configuration.

Note: If there is a province indicator on the product set up, it is used to distinguish between different products due to varying pricing by province. The system does not have the functionality to automatically recognize if the product location matches the property location. Users are responsible for selecting the correct product.

Once you select a product to apply, you should see a pop up similar to this :

It is important to carefully read the information in this pop-up as the text may vary depending on how the products have been configured in the Manager Portal and the date within the application. For example, if there is no matching terms or rates in the product set up, you might see something like:

Credit Tier Custom has no defined entries for the term of 24 months! There is no Fixed Rate defined for the Custom Credit Tier and term of 24 months. Rate will not be updated!

This message indicates that the product does not have a specified term or rate, which means that those values will not be updated in the application if you choose to apply that product.

Product can be applied in either the Requested Mortgage Tab or the Mortgage Terms Tab.

The same functionality exists in both sections (Requested Mortgage and Mortgage Terms), i.e. If your company has set up a product matrix in the Manager Portal, you have the option to choose from a list of eligible products in this field to apply to your application. Depending on the level of configuration, when selecting your product, the rate and terms may update automatically.

Note: Particular to pricing, the system defaults to using the FICO score of the applicant with the highest income, regardless of their score. However, you have the ability to override this and use the highest score for pricing, regardless of income. This can be done by checking the 'FICO Score Override' checkbox in the Stakeholder widget during the application process. If you select this option for a specific stakeholder, the system will consider the highest score between the primary borrower and that stakeholder as the main FICO score for pricing.

Once the Product button is clicked, a sidebar containing a list of active products will open. Each product will show the rate as set up in the Manager Portal, and it will have a coloured bar to provide a visual indication of the number of product attributes compatible with the application. This includes the number of attributes that have passed, failed or are unknown, the location (i.e. the province) the product is available in, and the features attributed to that product (Combo, Edge, Insured, Line of Credit).

Each product can be expanded by clicking on the downward facing arrow to the right of the product tile. Expanding the product will display all the attributes and default values applied to that product, what the corresponding value within the application is to that attribute and default value, a tooltip which when hovered over displays the attribute and default value requirement for that product, and an indication if that attribute and default value was a pass or fail. A pass means the value in the application met the product requirements. A fail means the value did not meet the product requirements, and an unknown means there is a missing value in the application so the system could not evaluate it.

From here users can select the product that best suits the application. After a product has been selected, underwriters can update products during underwriting/adjudication stages.

Re-applying Products

If products are updated in the Manager Portal, the system will apply a warning flag beside the product in Requested Mortgage and Mortgage Terms indicating there has been a change in the product.

The user can click on the warning icon to open the product selection side panel which will display the updated attributes of the selected product.

They can choose to cancel, clear the product, reapply the product, or clear the warning. By choosing to cancel the flag and the product will remain however the flag will not interfere with workflow. Selecting Clear will clear the product application, the warning symbol disappears and there is no product applied. Selecting Re-apply Product enables them to select the same product or another one, updating the rates and terms for their selection. Users will get this confirmation pop up. If they want to proceed when selecting Re-apply Product. By doing so, the application will be updated with the updated terms and the warning will disappear.

Users can clear the warning sign to have it removed, without having to commit to any changes made to the product.This action is done from the products sidebar, by clicking the Clear Warning button, as seen below.

Rate Increase or Decrease in Product Offerings

Note: This is a tenant specific feature and may not be applicable in your environment.

The system will also offer warnings when the rate on the applied product has changed. These are displayed directly in the Product Offerings menu (i.e. the sidebar listing active products). The warnings will vary depending on whether it is a rate increase, rate decrease, or if it is an increase in the active rate hold. Below are some illustrative examples:

Rate Hold Active, Rate Increase: When a rate hold is active and there's a rate increase, you will receive a warning as shown in the image below.

Rate Hold Inactive, Rate Increase: If a rate increase occurs while there's no rate hold active, a notification will be displayed as depicted in the image below.

Rate Decrease: In case of a rate decrease, a notification similar to the one above will be presented regardless of whether there is a rate hold in place or not.

When applying a product on a conditionally approved mortgage with an active rate hold, the user will have the option to select if they want to keep the current payment amount or update it to the new payment, thus updating the amortization period as well. Click on this link to watch a video demonstration of this functionality.

Note: Amortization can appear as a decimal in DB. This is relevant for any lenders that pull reporting from the DB.

This is an intended behavior as it was built to support recalculation of the amortization period when the rate changes and the payment is kept the same. In this case the amortization will not result in an integer given that the payment has to be kept the same. On the UI we do round to show the integer value.

The scenario where this happens is when the rate is decreased when applying a product and the user selects to keep the payment as is. This popup only shows up if the deal is conditionally approved and the ratehold is active.
If they chose to update payment instead of keeping as is, then the amortization won't be recalculated and it will not update to have decimals.

Within the Settings section of the Manager Portal, there is an automation to overwrite application values with product defaults when applying a product.

When this automation is enabled, it is important to remember the following:

The system will not let you change the Default Values if they differ from those of the product applied until you clear the product.
The system will let you change and apply a product with Attributes that do not match. When selecting the product, there will be an indication that there are attributes that do not match which serves as a visual indication for the user.
If any of the default value fields in the UI are blank or do not match the product the system will update those fields with the values in the product when the product is applied or re-applied.

When this automation is not enabled, it is important to remember the following:

Products can be reapplied if the Attributes and the Default Values do not match.
The system will let you change and apply a product with Attributes that do not match. When selecting the product, there will be an indication that there are attributes that do not match which serves as a visual indication for the user.
The system will let you change and apply a product with Default Values that do not match. There will be an indication in the product selection process that there are unknown values.

Term or rate update check on product

Note: This is a tenant specific configuration.

When a product is applied, the system will attempt to match the selected product with the input terms. If the Net Rate is updated to a value that is not offered based on the rate matrix for the selected Product/Credit Tier, the user will receive a soft stop error message with the options to Apply or Cancel.

If you select 'Apply', the system will allow you to save the Net Rate even if it does not match the Rate matrix, and there will be no warning flag. However, if you decide to cancel, the Net Rate will not be saved.

If the user goes back and selects a term that matches the selected product, the rate will automatically update based on the selected term. As a result, the warning message will disappear, and the product will be successfully applied.

Advanced product change recognition and warnings

Note: This is a tenant setting and is disabled by default. To enable this setting, please contact our Client Success Team.

A Product Change warning sign appears in the application (with the same icon placement and appearance) next to the product field when information from the product affects the application in the following situations.

Logic will be available only for applications which have product applied after deployment (no data migration needed)

Product-Level Triggers

Summary

Product Name is updated.
Features are updated.
Rate Hold (days) is updated.
Deactivating Product

Rate Matrix-Level Triggers

Note: The following updates are considered triggers only if they are made to the currently applied Credit Tier.

Overview

Credit Tier or Credit Score is changed.

Terms & Rates

The following updates are considered triggers only if they are made to the term, term type and rate type applied to the application, to entries that are active.

Term is updated
Term Type is updated
Rate is updated

Special Rates

The following updates are considered triggers only if they are made to the term, term type and rate type applied to the application, to entries that are active.

Term is updated
Term Type is updated
Rate is updated

Note: Users are notified if changes are made to either standard or special rates (if available), no matter which one is used in the application.

Handling Disabled or Deleted Products

If a product is disabled or deleted from the Manager Portal, all deals that have already selected that product will still display the product snapshot.
A warning message will be displayed on deals indicating that the product is no longer supported by the organization. There is no option to reapply the same product if this warning appears.
If there are changes to the terms or if the product has been disabled or deleted, an error message will be shown stating "Product is no longer supported. Please clear the product or select another one."

Original with product:

Warning after Product is disabled in Manager Portal:

If a user tries to reapply the disabled product a warning icon will appear beside products which will alert the user that the product is no longer supported and the re-apply button will be greyed prompting the user to select a new product. A user can also leave the disabled product “as is”.

Application Purpose versus Mortgage Classification

A frequently asked question pertains to the differences between mortgage purpose and mortgage classification. Mortgage Purpose refers to the reason or objective behind obtaining a mortgage. It describes how the borrowed funds will be used, such as for Purchase, Refinance, ETO, Bridge Financing, Switch, or Purchase plus Improvements.

Mortgage Classification refers to how mortgages are grouped or categorized based on specific criteria. This classification can vary depending on the context, but some common categories include Purchase Plus Improvements, Reverse, HELOC, Construction, and Commercial mortgages. The available options in the dropdown lists for these fields are managed by users with the appropriate permissions through the Manager Portal.

It should be noted that the Application Purpose field may ingest blank sometimes. This will occur when a purpose selected in the POS is not an option enabled by the Lender in the LOS. I.E. ETO is selected in the POS but it is not an option the Lender has enabled within the LOS.

System Value Updates (Purchase Application Purpose only)

There is functionality within the system to automatically update some values or provide warnings to users that values have been changed therefore, other values may need to be recalculated. The values that are tied together are Purchase Price, Loan Amount, Insurance Premium, Down Payment, and Property Value. Here is how the system handles changes to these fields:

Purchase Price changes
- Loan Amount recalculates (New Purchase Price - Down Payment)
- Insurance Premium recalculates (New Loan Amount x Ins Prem %) if applicable
- LTV recalculates (New Loan Amount/New Purchase Price)
- PST recalculates (New Ins Prem x Tax %) if applicable

Down Payment changes

- Loan Amount recalculates (Purchase Price - New Down Payment)
- Insurance Premium recalculates (New Loan Amount x Ins Prem %) if applicable
- LTV recalculates (New Loan Amount/Purchase Price)
- PST recalculates (New Ins Prem x Tax %) if applicable
Loan Amount changes
- A warning flag appears beside Loan Amount (Loan Amount + Down Payment is not equal to the Purchase Price)
- Insurance Premium recalculates (New LA x Ins Prem %), if applicable
- LTV recalculates (New LA/PP)
- PST recalculates (New Ins Prem x Tax %), if applicable

Normally if the changes made to the Down Payment or Loan Amount fall within guidelines, only the values will be updated. Depending on client configuration, If the changes fall outside guidelines, the values will still update but a risk warning may also populate, i.e. If reducing the down payment causes the LTV to exceed 95%, all values will update but there will also be a risk warning listed in the FundMore Score stating that the LTV > 95% presuming the client/lender has that risk warning configured.

Property Value Changes
- > Purchase Price = Nothing happens. All values remain the same.
- < Purchase Price = A risk warning appears indicating the LTV exceeds the threshold (dependent on client/lender configurations). Also, LTV recalculates (New Value/Loan Amount)

Insurance Premium Changes
- Any changes made to the application that affect the insurance premium will update the premium amount and percentage (if applicable). The percentage will only update if there is a LTV change impacting the insurer premium pricing (insurer’s price based on LTV buckets). For example, if the LTV ratio changes from 95% to 90% by adjusting either the loan amount or the down payment, the premium will change from 4% to 3.1% based on standard pricing.
- To ensure accuracy, it is recommended to have a verification process in place where underwriters validate insurer percentages and premiums against the LOS upon receipt of insurer approval. This verification should be conducted for any insurer resubmissions as well.
- Additionally, tasks should be added to prompt underwriters to check for any risk warnings before conditionally approving or approving the application if applicable.

Source of Business

We have included a field called “Source of Business” which is sent to all insurers (i.e., Sagen, CG and CMHC). Previously when sending an application to the insurer, we set that field as ‘Broker’ by default. We no longer send the default to the insurers. Instead, we will send what the underwriter selects in the Source of Business field within the Summary Tab of the Loan Details widget.

Purpose Code Field

Note: This field is tenant specific and may not be visible in your environment.

The Purpose Code field acts as a sub purpose to the Application Purpose field. It is located with the Requested Mortgage tab in the Loan Details widget.

This field will auto populate for the “Switch/Transfer” and “Future Use” Application Purpose types but can be manually overridden. Switch Transfer will default to a Purpose Code of Mortgage Assignments and Future Use will default to Future Use.

For other Application Purpose types such as “Purchase” and “Refinance”, the user will have to manually select the most appropriate Purpose Code from the drop down menu.

If the Application Purpose field is amended, the Purpose Code will also be amended. The Purpose Code will automatically update to Future Use or Assignment Transfer if changed to Future Use or Switch/Transfer respectively. For other fields such as Purchase or Refinance, it will default to blank ensuring that the user updates it accordingly.

The Purpose Code options are extensive and can be managed in the Custom Fields section of the Manager Portal.

We have enhanced the system to ensure that Purpose and Sub-Purpose now apply at the product level rather than the overall application.

Key Changes:

In multi-product applications, Application Purpose and Purpose Code are now independent for each product.
For POS-submitted deals, Application Purpose maps to Purpose, while Purpose Code maps to Sub-Purpose.
Purpose Code can be found in the Mortgage, Commitment, and Mortgage Terms tabs within the Loan Details widget for each requested product.
Entering a purpose in one tab automatically updates it across all three tabs—but only for that specific product.
Other products within the application remain independent and require their own Purpose Codes.
The sub purpose is accurately mapped to the lender’s banking system on upload.

This enhancement improves data accuracy and alignment with banking system requirements.

Adding Multiple Products

Users are able to add multiple products on the same deal. When specifying the type of mortgage being requested for the products, users have the option to select different “Mortgage” types, allowing for two or more types on the same security. This gives users more flexibility and control over their mortgage requests.

To add multiple products on a deal, follow these steps:

Navigate to the Application tab in the Loan Details widget.
Select the checkbox next to the “Multi Product” field.
A green plus button will appear next to the Requested Mortgage tab. This allows you to add another Mortgage/Product to the deal.
Click on the Add Mortgage button next to the Requested Mortgage tab (i.e. the green plus button).
Select the appropriate Mortgage Type from the dropdown menu.
Complete the appropriate field in the sidebar that pops up. Note: Depending on the product selected, your field labels may differ slightly.
Click on the Add Combo Mortgage button when completed.

When an additional product is added to the deal, it will have its own section in the Requested Mortgage tab.

Furthermore, when looking at the security (property) you can see the individual products that have been attached to that security.

If a product is linked to a security, an icon will be displayed next to it in the Requested Mortgage tab. Hovering over this icon will display a tooltip showing the appropriate address.

The subject property will automatically display beneath the Existing Mortgages tab and within the Securities tab in the Loan Details widget.

When additional properties are added as additional securities they will populate beneath Existing Mortgages and within the Securities tab in Loan Details. The Overview tab will list all products. When you click on one, the rendered view displays a list that is filtered to the existing mortgages on that property.

You can delete a product from a deal if necessary however, this must be done before the deal is conditionally approved. To delete a product, click on the ellipsis located to the right of the product in the Requested Mortgages tab. Select the Delete option from the dropdown menu.

Once an application is conditionally approved, the deletion of a product is no longer possible, and the delete button for the product will show as disabled.

Max Borrowing Limit Field Logic Update for Line of Credit Products

Note: This is lender specific and may not apply to your organization.

The "Max Borrowing Limit" field logic has been updated to enhance clarity within the LOS. This field is now mandatory only for Flex products (e.g., Broker HELOC - Flex) and disabled for Secure Line of Credit products to prevent confusion. Additionally, when a Secure LOC (Flex) is selected, the max borrowing limit will be sent to the banking system. Loan type changes will now clear cash advance and borrowing limit values and can only be modified if required fields are completed.

Add Mortgage

Secure Line of Credit:

Secure Line of Credit (Flex):

Requested Mortgage Overview

Secure Line of Credit:

Secure Line of Credit (Flex):

Mortgage Terms

Secure Line of Credit:

Secure Line of Credit (Flex):

Mortgage Status

Note: This is a tenant specific feature. It only applies if your organization has this functionality enabled.

We have included a status bar in the Requested Mortgages section. This is used to indicate the Mortgage Status, and applies to the Operations Fulfillment and Funded stages. If there are multiple products, users can conveniently monitor the status of each individual product through separate product cards in the Overview section.

Based on the image above, the statuses from left to right are:

Solicitor Instructed
FCT Ordered
FCT Received
Application in Prepping
Ready for Closing
Uploaded
Funds Disbursed
Waiting for Final Report
Final Report Accepted

The status icons will be greyed out until a status is assigned, at which point it adopts one of the company’s branded colors within the status bar. Additionally, the latest applied status icon will be displayed to the right of the "Requested Mortgage" label for each relevant product.

To apply a status, simply click on the appropriate status icon in the status bar. The status will be added to the deal as long as it is in the appropriate stage. Alternatively, you can add or remove a status by clicking on the ellipsis to the right of the product, as seen below. The status can be removed while in any application stage.

Users have the flexibility to individually select statuses for each product, and the system retains a record of all selected statuses rather than just the last one. Statuses can be chosen in any order. Users can select any applicable status, even if a previous status has not been applied yet, as long as they pertain to the stage the user is currently in. Refer to this video for a demonstration of this functionality: Product Status Selection.

Removing a status acts like reverting, it will simply remove the indicated status from the deal.

The most recent status applied will be visible in the pipeline view as indicated below:

Pipeline Board (Kanban) View:

Pipeline List View:

Regarding stage transitioning, the system blocks Funding until all active mortgages have the status “Funds Disbursed” applied. If any product on the file does not show this status, the Fund button will be disabled, and the user cannot fund the deal. In this case, if a user hovers over the greyed out Fund button, a message will be displayed indicating that "Not all products have the Funds Disbursed status”.

Once the status is updated to Funds Disbursed, the Fund button will become enabled. With the button enabled, the user can proceed to fund the deal.

When tasks are configured in the Manager Portal and have statuses assigned to them, the applicable task will automatically appear in the task list when the corresponding status is activated.

All status updates are tracked and recorded in the history log.

On Hold, Cancel, Decline, & Lock States on Products

In addition to the Mortgage Status, users have the ability to add or remove the states of “On Hold”, “Cancel”, “Decline” & “Lock” on products. These states can be added or removed at any stage. A state (On Hold, Cancel, Decline) is reset when a status (Solicitor Instructed, FCT Ordered, etc.) is set or removed. The Lock state is the exception, it will remain in place when a status is set or removed. In this case, the Lock state would need to be manually removed. However, a status (Solicitor Instructed, FCT Ordered etc.) is not reset when a state (On Hold, Cancel, Decline, Lock) changes. As info, the cancelled or declined products are not selectable under securities.

States are accessible via the ellipsis located to the right of the Requested Mortgage tab. When you click on the ellipsis, a dropdown menu appears for the user to select the appropriate option. The options vary slightly depending on if there is just one product on the deal or there are multiple products. In the case of multiple products, there will be an option to delete a product.

Single Product:

Multi Products:

All state updates are tracked in the history log and have their own icon with an accompanying tooltip. The icons for these states only appear to the right of the product. They will not show at the top of the dashboard or within the status bar in the Overview section of the Requested Mortgages tab.

On Hold is represented by a clock icon:

Cancel is represented by an “x” icon.

When the cancel option is selected, a confirmation pop up will appear. Enter any relevant comments then click on the Cancel Product button:

Once cancelled, the cancel icon will appear next to the Requested Mortgages tab. When you hover over the icon, it will provide information on when it was cancelled and any comments included by the user who cancelled it.

Decline is represented by an “!” icon.

When the decline option is selected, a confirmation pop up will appear. Enter any relevant comments then click on the Decline Product button:

Once declined, the decline icon will appear next to the Requested Mortgages tab. When you hover over the icon, it will provide information on when it was declined and any comments included by the user who declined it.

Lock is represented by a “lock” icon.

These states can easily be cleared if needed. To do so, click on the ellipsis next to the Requested Mortgages tab. A checkmark will be displayed next to the option that has been applied on the deal, i.e. "On Hold", "Cancelled", "Declined" or “Locked”. Simply click on the state and it will be cleared from the deal and the check mark will be removed.

All actions relating to the On Hold, Cancelled, Declined and Locked states will be logged in the application history.

Base Rate, Final/Net Rate and Original Net Rate

The Original Net Rate represents the initial rate that was ingested with the application as submitted by the broker. It reflects the original rate that was requested on the application.

The Base Rate is the rate the lender applies either automatically via Product selection or by manual entry before any Buydowns or Discounts are applied.

The Final or Net Rate is the actual rate after any Buydowns, Discounts, Increments, Discretion or Decrements are applied. The net rate is used to calculate payment. It serves as the basis for the Qualifying Rate, which is determined as the net rate + 2% or 5.25%, whichever is greater.

In the example below, you will see an Original Net Rate of 4%. This is the rate the application ingested with. The Base Rate of 3.8% is the rate the lender applied before the Buydown of 0.05% and the Increment of 0.25% were applied. After applying the Buydown and the Increment, the Final/ Net Rate becomes 4%. This rate will be used when populating any generated documents, is the rate that the payments are calculated on, and is what the Qualifying Rate is based on.

Users can edit the Base Rate directly within the Loan Details widget. To do so, follow these steps:

Click on the pencil icon to the right of the Base Rate field. This will open a pop-up sidebar.
A pop-up sidebar will appear. It will display the Standard Rate as selected (i.e. the Base Rate), an option for a Custom rate, and a summary of the product terms selected or applied on the deal.
Select the Custom Rate radial button to edit the rate, and enter the amended Base Rate.
Click on the Re-apply Rate button once completed.

Once applied, the Base Rate and the Net Rate will automatically be updated.

A history log noting the rate change and the ratio changes will be created in the application history.

Understanding Variable & Adjustable Rates and Rate Holds

When the mortgage has a variable or adjustable rate, then what the borrowers are “buying” from the lender is the spread or what we call the modifier, not the net rate. This is because the lender does not control how the Prime rate is going to fluctuate from the Bank of Canada.

In these scenarios, when there is an active rate hold, the system should not look at holding the base rate but holding the smaller modifier.

The scenarios below only apply to variable/adjustable mortgages and only when products have a variable/adjustable rate.

Requirement

Current Rate

New Rate

When

prime rate decreases from 5.45 to 5.2
the modifier in products does not change
user reapplies the product
with an active rate hold

Then

the modifier should be kept the same
the prime rate should be updated resulting in a smaller base and
borrower should receive a better rate.

(A) Prime Rate: 5.45

(B) Modifier: -0.85

(D) Discount: 0

(E) Net Rate: (C-D): 4.6

(A) Prime Rate: 5.2

(B) Modifier: -0.85

(D) Discount: 0

(E) Net Rate: (C-D): 4.35

When

prime rate increases from 5.45 to 5.5
the modifier in products does not change
user reapplies the product
with an active rate hold

Then

the modifier should be kept the same
the prime rate should be updated resulting in a greater base and
borrower will receive a higher rate because prime is updated.

(A) Prime Rate: 5.45

(B) Modifier: -0.85

(D) Discount: 0

(E) Net Rate: (C-D): 4.6

(A) Prime Rate: 5.5

(B) Modifier: -0.85

(D) Discount: 0

(E) Net Rate: (C-D): 4.65

When

prime rate stays the same
the modifier increases from -0.85 to -0.4
user reapplies the product
with an active rate hold

Then

the modifier should be kept the same as the new modifier is larger and results in a worse rate
the prime rate stays the same and
deal stays at the same rate

(A) Prime Rate: 5.45

(B) Modifier: -0.85

(D) Discount: 0

(E) Net Rate: (C-D): 4.6

(A) Prime Rate: 5.45

(B) Modifier: -0.85 (is kept because of ratehold)

(D) Discount: 0

(E) Net Rate: (C-D): 4.6 (does not change)

When

prime rate stays the same
the modifier decreases from -0.85 to -0.9
user reapplies the product
with an active rate hold

Then

the modifier should be updated as the new modifier is lower and results in a better rate
the prime rate stays the same and
borrower should receive a better rate.

(A) Prime Rate: 5.45

(B) Modifier: -0.85

(D) Discount: 0

(E) Net Rate: (C-D): 4.6

(A) Prime Rate: 5.45

(B) Modifier: -0.9

(D) Discount: 0

(E) Net Rate: (C-D): 4.55

When

prime rate increases from 5.45 to 5.5
the modifier increases from -0.85 to -0.4
user reapplies the product
with an active rate hold

Then,

the prime rate is updated
the modifier should be kept the same as the new modifier is larger and results in a worse rate
borrower will receive a higher rate because prime is updated.

(A) Prime Rate: 5.45

(B) Modifier: -0.85

(D) Discount: 0

(E) Net Rate: (C-D): 4.6

(A) Prime Rate: 5.5

(B) Modifier: -0.85

(D) Discount: 0

(E) Net Rate: (C-D): 4.65

When

prime rate decreases from 5.45 to 5.2
the modifier increases from -0.85 to -0.4
user reapplies the product
with an active rate hold

Then,

the prime rate is updated
the modifier should be kept the same as the new modifier is larger and results in a worse rate
borrower will receive a better rate

(A) Prime Rate: 5.45

(B) Modifier: -0.85

(D) Discount: 0

(E) Net Rate: (C-D): 4.6

(A) Prime Rate: 5.2

(B) Modifier: -0.85

(D) Discount: 0

(E) Net Rate: (C-D): 4.35

When,

prime rate increases from 5.45 to 5.5
the modifier decreases from -0.85 to -0.9
user reapplies the product
with an active rate hold

Then,

the prime rate is updated
the modifier is updated
borrower will receive the same rate

! If the prime rate rises while the modifier decreases, the net rate may end up higher, lower, or unchanged compared to the initial rate.

(A) Prime Rate: 5.45

(B) Modifier: -0.85

(D) Discount: 0

(E) Net Rate: (C-D): 4.6

(A) Prime Rate: 5.5

(B) Modifier: -0.9

(D) Discount: 0

(E) Net Rate: (C-D): 4.6

When,

prime rate decreases from 5.45 to 5.2
the modifier decreases from -0.85 to -0.9
user reapplies the product
with an active rate hold

Then,

the prime rate is updated
the modifier is updated
borrower will receive a better rate

(A) Prime Rate: 5.45

(B) Modifier: -0.85

(D) Discount: 0

(E) Net Rate: (C-D): 4.6

(A) Prime Rate: 5.2

(B) Modifier: -0.9

(D) Discount: 0

(E) Net Rate: (C-D): 4.3

When,

prime rate stays the same
the modifier decreases from -0.85 to -0.9
discount is applied and does not change
user reapplies the product
with an active rate hold

Then

the new modifier is applied
discount is applied on top of the new modifier

(A) Prime Rate: 5.45

(B) Modifier: -0.85

(D) Discount: 0.3

(E) Net Rate: (C-D): 4.3

(A) Prime Rate: 5.45

(B) Modifier: -0.9

(D) Discount: 0.3

(E) Net Rate: (C-D): 4.25

When,

prime rate stays the same
the modifier decreases from -0.85 to -0.9
discount is applied and it’s decreasing from 0.3 to 0.25
user reapplies the product
with an active rate hold

Then

the new modifier is applied
the new discount is applied on top of the new modifier

(A) Prime Rate: 5.45

(B) Modifier: -0.85

(D) Discount: 0.3

(E) Net Rate: (C-D): 4.3

(A) Prime Rate: 5.45

(B) Modifier: -0.9

(D) Discount: 0.25

(E) Net Rate: (C-D): 4.3

Displaying the Components of the Adjustable/Variable Rate Separately

Base Rate Field and Edit Sidebar

Example:

Base Rate = Prime Rate + Modifier, where:
- Prime Rate = 6.95%
- Modifier = 0.5%

Component / Field	Displayed as	Comment
Base Rate	Prime (6.95) + 0.5 %	When hovering over the value, user can see the result of Prime + Modifier, in this case 7.45%
Standard Rate	Prime (6.95) + 0.5 %	When hovering over the value, user can see the result of Prime + Modifier, in this case 7.45%
Special Rate	Prime (6.34) + 0 %	When hovering over the value, user can see the result of Prime + Modifier, in this case 6.34%
Custom Rate	Prime (6.95) + __ %	Only the modifier is editable, Prime rate stays as it is

Product Selection List

Updated Component	Displayed as	Comment
Prime Rate	Initial Prime Rate: This value appears struck through, to indicate that it is no longer active. New Prime Rate: The updated prime rate is displayed. Modifier: This value remains unchanged and is displayed as is, reinforcing that only the prime rate has changed.	Prime Rate updates always apply to the mortgage, even if a Rate Hold is active.
Modifier (decreases)	Initial Modifier: This value appears struck through, to indicate that it is no longer active. New Modifier: The updated modifier is displayed. Prime Rate: This value remains unchanged and is displayed as is, reinforcing that only the modifier has changed.	Modifier updates are applicable when the Rate Hold is active, resulting in a better rate
Modifier (increases)	Initial Modifier: This value appears normally, to indicate that it is still active. New Modifier: The updated modifier appears struck through, to indicate that it is not applicable. Prime Rate: This value remains unchanged and is displayed as is, reinforcing that only the modifier has changed.	Modifier updates are not applicable when the Rate Hold is active, because it would result in a higher rate.

Understanding Prepayments

Prepayments are essentially interest reserves. These are generally used by MICs, Private Lenders and some Alternative Lenders. Interest reserves are funds that the lender sets aside in an escrow account to ensure they have enough money to cover the borrower's interest payments. Prepayments can be applied two ways: Upfront or Spread Evenly.

Apply Upfront - This allows the lender to hold back any number of payments which they will then apply on the payment date. Typically 12 months of payments are held back for a 1 year term however, it is possible for the number of payments held back to be fewer than the term. This ensures the lender will receive their payments with the expectation that the client will refinance and pay the mortgage off at the end of the term. To be able to do this, there needs to be sufficient funds available from the advance to cover the prepayment (holdback) amount.

Before Prepayment is Applied:

After Prepayment is Applied (Upfront Method):

As seen in the example above, after applying the Prepayment of 12 payments, the Amount To Be Advanced decreased by the equivalent of 12 monthly payments. This amount will be held in an escrow account, and the lender will withdraw funds from this account each month to make the payment on the mortgage.

Spread Evenly - This offers the borrower the opportunity to reduce the portion of the payment they need to make, and use funds from the interest reserve to make up the difference. Spread evenly is a situation where the borrower can only afford a smaller payment than what is required by the mortgage terms. Presuming they have sufficient funds from the advance to cover the prepayment, the lender can calculate a reduced portion that the borrower needs to pay. The borrower will still make the full payment, but a portion of it will be paid by the borrower while the remaining amount will be taken from the prepayment held in an escrow account.

The calculation used for this takes the original monthly payment and divides it by the number of months in the term to come up with a value. That value is then multiplied by the Number of Prepayments indicated. The resulting value is the amount the original payment will be reduced by. This scenario occurs when the client may not have the financial capacity to afford the monthly payments, but they have funds available to decrease the payments to a more affordable amount. Using the same example as above, the original monthly payment is $1241.67. This amount divided by 12 (months in term) = $103.47. If a 3 month prepayment is applied, that will be $310.42. Finally, $1241.67 - $310.42 = $931.25.

Before Prepayment is Applied:

After Prepayment is Applied (Spread Evenly):

Once the Prepayment of 3 payments was applied, the Amount To Be Advanced reduced by the Prepayment amount (equivalent of 3 x $310.42). This means that that amount will be held back and every month the lender will pull funds from this holdback to apply to the account to make up the payment difference.

Automatic Date Calculations

In order to automate redundant and error prone tasks, we have implemented a fully automated dates management system. Using the closing date as a starting point, our system automatically calculates the First Regular Payment Date and Maturity Date based on the Payment Frequency and Term. Additionally, when the First Payment Date is selected or updated, the system automatically calculates the Interest Adjustment Date (IAD) and amount, eliminating the need for manual adjustments by underwriters. In that case, the Maturity Date will also be automatically adjusted.

It should be noted that the system assumes an end of month payment frequency. I.E. If the closing date is March 31st, the 1st payment will be set to April 30th, with May being on the 31st etc.

The Maturity Date field is automatically calculated and cannot be edited. It is determined based on the term and closing date, or the Interest Adjustment Date (IAD) if applicable. In specific tenant environments, we have updated the system to automatically update the maturity date when a bi-weekly payment frequency is selected. With this update, the system will automatically adjust the maturity date, taking into account the remaining number of payments required. If any changes need to be made to the dates from the initial application, the user will need to adjust the Payment Frequency, and the system will update other dates accordingly. Typically, changes are required when there is a modification to the Closing Date, Payment Frequency, the customer's preferred payment date from the original submission, or a broker has input an incorrect IAD.

We also have Enhanced Maturity Date Calculations for Multi-Product Applications. We have improved the system to calculate maturity dates independently for each product within a multi-product application. This ensures the correct maturity date is populated in documents and uploaded to the banking system.

Key Enhancements:

Each product in a multi-product application now has its own term and calculated maturity date.
The term and maturity date for one product are no longer applied to additional products within the same application.
The order in which products are added has no impact on the calculated maturity dates.
Lines of Credit will continue to have no term or maturity date.

Calculation Logic:

If the POS system provides a maturity date, it is set directly.
If no maturity date is provided:
- With Interest Adjustment Date: The maturity date is calculated based on the IAD plus the selected term for monthly or semi-monthly payments or the IAD plus the number of payments in the term for weekly, bi-weekly, or accelerated payment frequencies.
- Without Interest Adjustment Date: The maturity date is calculated from the Closing Date plus the selected term for monthly or semi-monthly payments or the closing date plus the number of payments in the term for weekly, bi-weekly, or accelerated payment frequencies.

This update resolves incorrect maturity date calculations for multi-product applications, ensuring each product’s details are accurate and independent.

We have updated the interest adjustment date calculator to align with semi-monthly payment rules, ensuring accurate handling based on the next payment date. The system correctly calculates the First Regular Payment Date and Maturity Date for semi-monthly payment frequency when the applicable tenant settings are enabled. The First Payment Date will default to either the 15th or 30th (or 28/29 for February). A missing scenario has also been addressed to ensure that deals closing on December 30th will correctly set January 15th as the next payment date.

For a better understanding of the system configuration, let's consider a scenario where a deal is submitted with a closing date of April 15th, 2026, on a monthly payment frequency. The system will set the First Payment date to May 15, 2026, with a maturity date of April 15, 2029 (assuming a 3-year term). While no IAD is displayed in the user interface (UI), it is logged in the backend as April 15, 2026.

Assume the client requests biweekly payments on Fridays to coincide with their pay dates, with the first payment due on April 24th. Since this date is more than two weeks from the closing date and does not represent a full payment period, the user would update the payment frequency to biweekly and set the First Payment Date to May 8, 2026 (the next closest payment date). Subsequently, the system will automatically compute the IAD as April 24, 2026, and calculate the Interest Adjustment Amount to be collected.

Adjustment of First Payment Date and Impact on Amortization

Note: This is a tenant setting and may not apply in your environment

When the first payment date is manually set earlier than the full payment frequency (e.g., earlier than one month for monthly payments), the lender’s banking system processes a full payment. However, interest is only calculated for the shortened period, with the remaining amount allocated to the principal. This results in a smaller balance after the first payment compared to a regular full-period payment, effectively altering the amortization schedule.

To address this, the system has been configured to adjust the amortization schedule accordingly, ensuring accurate calculations that reflect these early payments.

First Payment Date Rules Based on Frequency

To ensure compliance with mortgage payment scheduling, the LOS now enforces rules for the first payment date based on frequency and the closing/funding date. This prevents users from exceeding the allowed number of days between funding and the first payment.

Key Updates:

Validation Rules by Payment Frequency:
- Weekly: First payment must be within 9 days of closing.
- Biweekly: First payment must be within 16 days of closing.
- Semi-monthly: First payment must be within 17 days of closing.
- Monthly: First payment must be within 35 days of closing.
System Warning Enhancements:
- If the first payment date exceeds the allowed timeframe, a warning message appears.
- The existing 5-day difference warning for PAD setups from external accounts remains applicable.
- Warnings will dynamically adjust based on the payment source:
- Display the 5-day warning when there is at least one external payment source in the stakeholder PADs and the tenant setting is enabled.
- Display the 9/16/35-day limit warning based on payment frequency when no external payment source exists on any stakeholder PAD, and the relevant tenant settings are enabled.

These rules apply only to mortgage products, they have no impact on other products or processes.

Custom First and Second Payment Dates for Semi-Monthly Payments

Note: This is a tenant-setting that defaults to disabled. To have it enabled in your environment, contact FundMore’s Client Success Team.

We have introduced enhancements to support improved semi-monthly payment options, ensuring payment dates align with lender requirements.

Available for Origination, Renewals, and Servicing (Payment Changes) deal types.
Applies to all Mortgage and Loan products, excluding Line of Credit and Bridge.
Supported in all applicable lender channels (e.g., Broker, Retail, MMS, Digital).

Key Enhancements:

New Semi-Monthly Payment Options:

The 30th has been added as a valid payment date, replacing the 1st as a selectable option.
Users can now only select the 15th or 30th as the first regular payment date for semi-monthly payments.

Automatic First Payment Date Selection:

Based on the closing date, the system will automatically select the closest valid first payment date:
- Closing Date on or before the 15th → First Payment Date: 15th
- Closing Date between the 16th and 29th → First Payment Date: 30th
- Closing Date on the 30th → First Payment Date: 15th of the following month

Only the 15th and 30th (dates after the closing date) are displayed as selectable options in the date picker.
If the user attempts to manually type a date other than the 15th or 30th, or a date before the closing date, the system will display an error message.
The system then calculates and displays the Interest Adjustment Date and Interest Adjustment Amount if applicable.
Interest Adjustment Date and Amount:

These fields will remain empty unless the user manually adjusts the first payment date.
Manual adjustments only allow selecting the 15th or 30th; entering any other date will result in an error.

API and Documentation Support:

The selected 15th or 30th date will be pushed to the banking system for Product Creation.
The system will reject any semi-monthly first payment date set to the 1st to align with lender requirements.

Insurer Programs and Automatic Premium Recalculation

To streamline the underwriting process and save time, we have incorporated automated features for insurance premiums. The premium is automatically updated based on the insurer program selected and the LTV. This means that as the LTV changes, the insurance premiums will automatically adjust accordingly. Moreover, if the user decides to select a different program, the premium will be automatically updated specifically for that program and transaction.

Another functionality we have incorporated is a warning indicator if the user tries to manually update the insurance premium and it no longer matches the selected program and LTV. By doing this, we ensure that the user is always kept informed.

FTHB/New Construction - Amortization Greater than 25 years

As per the regulations from the Government of Canada, mortgage amortizations of 30 years up to 35 years are available for all first-time home buyers and for any new construction purchases. The insurers will charge a Premium Surcharge on these transactions. To accommodate these regulatory changes we have created a checkbox labeled “Include Insurance Premium Surcharge (0.20%)”. The field is located with the other insurance fields:

This enables the user to add the premium surcharge to the application when applicable. Note that this needs to be added manually. This feature is linked to the Loan-to-Value (LTV) ratio and adjusts the insurance premium based on preconfigured settings. Some notes on the checkbox behavior:

The checkbox is enabled and selectable only if the LTV for the mortgage product exceeds 80%.
To apply the Premium Surcharge, the user must manually select it.
If the LTV is 80% or lower, the checkbox is unchecked and disabled.
When selected, the insurance premium automatically increases by an additional 0.20%.
If the insurance premium is updated as a result of edits made (i.e. Loan amount changes) the 0.2% surcharge may not necessarily re-apply. I.E. If the loan was at 80.01% LTV or greater and the Premium Surcharge had been applied but was then adjusted so the LTV dropped below 80%, the Premium Surcharge will be removed. If the loan amount is increased back up to over 80% LTV, the Premium Surcharge will have to be manually re-applied.
When the insurance premium is updated automatically by the insurer and program, the 0.20% surcharge is added if the LTV is above 80%.

This update ensures that the insurance premium surcharge is applied accurately based on the LTV ratio.

Low Ratio Insurance (Insurable vs Insured)

Lenders may want to insure applications even if the LTV is below 80%. In such cases, it is the lender's responsibility to cover the insurance premium and any applicable PST, rather than the borrower. The process remains the same, as the lender still needs to submit the file to the insurer for approval. However, there is a distinction in terms of who will be responsible for paying the insurance premium and how it will be paid.

To help lenders manage this, we have included an “Insurance Paid By” field and an “Include Premium in Mortgage” checkbox in the Requested Mortgage tab. On Low Ratio files, the user would use these fields to identify that the premium is being paid by the Lender and should not be included in the mortgage. To utilize this, simply uncheck the “Include Premium in Mortgage” box and indicate “Lender” in the “Insurance Paid By” field.

Upon doing so, the system will not include the premium in the mortgage and the Amount To Be Advanced will not be impacted as it would on a high ratio file where the premium is being paid by the borrower.

Conforming Field

Note: This feature is tenant specific and may not be enabled in every environment.

The conforming field is a single-select field with the two options in the drop-down being “Conforming” and “Non-Conforming”. The field only applies to the Mortgage Entity and as such, it is only displayed within the Requested Mortgage tab, not within the Existing Mortgages tab.

The field can be managed within the Custom Fields section of the Manager Portal. To find it, navigate to Custom Fields, click on the Mortgages Entity and click on the Conforming field. This allows you to mark the field as required.

Other Requested Mortgages Fields

Deadline Date

This is intended to indicate the date the client is required to sign back by. The system will default to the creation date + 10 days but we may be able to configure this as needed. This field has a backend calculation to calculate the date based on the application creation date. It does not have a direct impact on any other fields.

Product ID Field

Note: This field is tenant specific and may not be enabled in every environment.

We have included a Product ID field in the Mortgage Entity. It is located within the Requested Mortgage tab of the Loan Details widget. This is a system generated field that provides a unique identifier for requested mortgages. The value is the combination of the application loan number and a counter. With the exception of the ID configuration, this field can be managed or deleted in the Custom Field section of the Manager Portal. It is important to note that this field may be configured to appear only after the deal has transitioned to a specific application stage, such as Deal Acceptance. If this is the case, it will not be visible in previous stages. System administrators have the ability to adjust this configuration if needed.

Compounding Field

Automated Compounding Frequency Based on Rate Type

Note: This is a tenant setting and it defaults to disabled. To enable it, please contact our Client Success Team.

To improve loan accuracy and streamline workflows, the system now automatically assigns the correct compounding frequency based on the selected rate type. This eliminates mismatches and ensures consistency.

Key Updates:

Automated Compounding Frequency:
- If Rate Type is Adjustable, then compounding defaults to Monthly.
- If Rate Type is Fixed, then compounding defaults to Semiannual.
Adjusting Repayment Type will no longer trigger compounding frequency updates.
Improved system logic to prevent the temporary incorrect switch to Monthly when selecting Adjustable Rate.
With this tenant setting enabled, the system will not display unnecessary confirmation pop-ups when repayment type is changed.

Program Code Field

Note: This field is tenant specific and may not be enabled in every environment.

This is a lender specific field. The Program code field is a single-select field located in the left hand pane of the Requested Mortgages tab. The options can be configured via Custom Fields in the Manager Portal.

Security Field

Note: This field is tenant specific and may not be enabled in every environment.

This field is lender specific. The Security field is a multi-select field located in the left hand pane of the Requested Mortgages tab.

Closing Date / Restricted Dates

When a user selects a Closing Date that falls on a restricted date, the system will automatically display a warning to prompt the user to take action. Hovering over the warning icon reveals a tooltip message, clearly informing the user of the restriction. This allows users to take note of the conflict and make any necessary adjustments to the Closing Date.

In the example below, the restricted dates have been set from April 3, 2026 - April 3, 2026.

Thus, the restricted date warning and tooltip will be displayed across the following sections:

Loan Details Widget: Under both the Requested Mortgage and Commitment sections.

‘Commitment’ Tab

The commitment tab is housed under the Requested Mortgage tab. The commitment tab holds all the data related to the commitment of the requested mortgage, particularly the relevant dates. This includes Closing Date, Condition of Financing (COF) Date, Funding Date, First Regular Payment Date, Maturity Date, the Interest Adjustment Date & Deadline Date.. Some of these date fields will auto populate based on what was entered in the POS system and some require manual input (COF Date for example). Modifications can be made if needed, but it is recommended that the changes be made in the Requested mortgage tab instead of the commitment tab so that all the relevant fields update as necessary.

‘Mortgage Terms’ Tab

The Mortgage Terms tab is housed under the Requested Mortgage tab. The Mortgage Terms tab holds all the data related to the terms of the requested mortgage. This section is broken into the general terms (left hand pane), Interest and Cost to Carry.

When an increment, decrement, discretion, buydown or discount are added, they will automatically be reflected in the Net Rate, APR, Qualifying Rate, and Mortgage Payment. The Base rate will remain unchanged, indicating the initial rate before any adjustments to the rate were applied. Base rate is the starting point from which any increment, decrement, discretion, buydown, or discounts are applied. The Base Rate starts at ingestion and is the rate the broker submits the application with. It is then reset when the product is applied or re-applied. The Net rate is the result of all adjustments made to the Base Rate. As you can see in the screenshot above.

Increments are added to the Base Rate, decrements, discretions, buydowns, & discounts are deducted from the Base Rate.

Furthermore, you have the ability to determine whether the expenses associated with the subject property, which are entered in the expenses tab of the property details pop up, should be included in the TDS calculation or not. Users are provided with a popout icon which will take them directly to the Expenses tab within the Property Details tab for the subject property where they can make their edits ultimately updating the Total Expense for TDS.

Product Field

As in the requested mortgage tab, you can also select your product in the Mortgage Terms tab. The same functionality exists: If your company has configured a product matrix in the Manager Portal, then you can select from a list of eligible products in this field to apply to the application.

Depending on the level of configuration, when selecting your product, the rate and terms may update automatically. Particular to pricing, the system’s default is to use the FICO score from the applicant with the highest income regardless of score. However, there is the ability in application to tell the system if you would prefer to use the highest score for pricing regardless of income. This is the ‘FICO Score Override’ checkbox within the Stakeholder widget. If this is checked off for a given stakeholder, it will take the highest score for that stakeholder as the main FICO score under consideration instead.

Compounding Field

We have implemented automation within the system to improve efficiency and accuracy. The compounding period can automatically default based on the selected rate type. This is a system configuration that can be customized to your preferences and is controlled by a tenant setting. For example, if you choose a fixed rate type, the system will default to semi-monthly compounding. On the other hand, if you select a variable rate type, it will default to monthly compounding. This automation is designed to minimize human error and ensure consistency. If you would like to enable or disable this feature, please reach out to our support team for assistance.

Amortized LOC Payments for Debt Service Calculations

As most lenders will typically use an amortized payment for LOC to calculate debt service ratios and not the actual payment which is usually an interest only payment, we support this functionality.

To begin with, we have a configurable setting allowing lenders to configure the amortization they wish to use for the LOC calculation (amortization in months). This is set up in the Settings section of the Manager Portal.

When the loan type Secured Line of Credit or a HELOC product is selected in the requested mortgage tab for the subject property (stand alone or combo), an extra field will open up in the Mortgage Terms tab called Amortized Monthly Payment.

There is a tooltip which when clicked on will show the user the calculation and values used to calculate the amortized payment. It will be the amortized payment used in the debt service calculations, not the actual payment amount. The system will use the BOC rate or the rate set up in the Manger Portal + 2% (whichever is greater) when calculating the Qualifying GDS & TDS based on the amortized monthly payment amount.

Note: The Amortized LOC payment functionality will apply on all mortgages indicated as Secured Line of Credit (requested and existing/remaining). The system will calculate an amortized payment based on the configuration in the Manager Portal and use the recalculated payment in debt service calculations.

Rate Hold Field

We have included a Rate Hold field in the Mortgage Terms tab to support the Rate Hold feature. The Rate Hold feature enables lenders to effectively track and manage multiple submissions on applications. To better understand this feature, refer to the Rate Hold PFG.

Discretion Field

We have included a discretion field in the Mortgage Terms tab. This field enables users with the permission to “Edit discretion on a mortgage” to apply discretions, which function similarly to discounts, and are immediately applied to the base rate, updating the net rate. Discretions are always subtracted from the base rate after any increments and decrements have been applied.

Negative Amortization

This applies to Variable Rate mortgages only.

For variable rate mortgages, the system will calculate a payment based on the net rate +1%. This payment will populate the field called Monthly Payment with 1% lift and is located in the Mortgage Terms tab directly below the Monthly Payment. In a negative amortization situation the user can select this payment amount and that payment will populate the commitment and loan agreement.

The system calculates and displays a negative amortization rate when applicable, providing greater transparency.
A new field displays the negative amortization rate and populates relevant documents for variable rate mortgage products. The field is displayed within the Mortgage Terms and Requested Mortgage tabs of the Loan Details widget. This is a custom field that can be managed with the Custom Fields section of the Manager Portal.
The negative amortization calculation uses the contract rate plus a 1% lift if applied; otherwise, it uses the contract rate.

Users can populate documents with the rate + 1% and the respected payment amount if necessary. There is a check box to the right of the Payment with 1% Lift field. If the user checks that box, the documents will populate with the net rate + 1% and the payment calculated on that rate.

Any changes made will be logged in the application history.
This field can be managed within the Custom Fields section of the Manager Portal.

Rates

Users can manage the rates on a requested mortgage within the Mortgage Terms tab. When the mortgage is a variable or adjustable rate mortgage, the base rate side panel will show the split between the prime and the modifier as set up in the Products within the Manager Portal showing how the Base rate or Standard rate was obtained. To modify your rate, follow these steps:

While in the Mortgage Terms tab, navigate to the select base rate pencil icon and click on it.

This will open up the Base Rate side nav panel showing the breakdown

Here is how the side bar will render on a Fixed Rate:

This is how the side bar will render for a Variable Rate:

Blended Rates

Note: This functionality is only available to certain lenders who have FundMore integrated with their banking system. This may not be relevant to you.

A blend takes the borrower’s current rate and remaining months in their term and “blends” it with the new rate and new term to determine a new “blended rate”.

Rate blend can be used in both a rising and falling rate environment so that the borrower can get the benefit of "averaging down" their rate.

Blends are available for refinances, early renewals and new purchases where the borrower is porting an existing mortgage to a new property. This functionality is available in Origination and Servicing as a result.

The user will pick a product and term, and the LOS will apply any increments or decrements or buydown to determine the new rate needed for the rate blend.

The LOS will use the net rate for the rate blend calculation.

Ability to indicate a "Rate Blend" is required
Ability for user to see the increments/decrements/discounts/discretion/buydowns that went into the new net rate in the same place that they see the blended rate calculation breakdown (current Interest Rate modal)
Ability for system to apply 0.05% increment when Rate Blend indicator is selected, specific to channel/Source of Business.

Data required to calculate a rate blend;

Existing mortgage balance from banking system
Existing mortgage rate (net rate) from banking system
Existing mortgage maturity date from banking system
New term
New mortgage amount
New mortgage net rate (with .05% blend increment applied
Current date
Current posted rate

Existing mortgage remaining term =IF(OR [Today's date] ="",I [Existing Maturity date] =""),"",ROUND(((VALUE(I[Existing Maturity date] -VALUE([Today's date]))/365*12),0))

Final Calculation:

Impact of Mortgage Increase

Existing Mortgage rate impact = (Existing Mortgage Balance/New Mortgage Amount) x Existing Mortgage Rate

New Mortgage rate impact = (100-(Existing Mortgage Balance/New Mortgage Amount)) x New Mortgage Net Rate with 0.05 increment

Rate that will apply to existing remaining term = Existing Mortgage rate impact + New Mortgage rate impact

Impact of Extended Term

Existing Mortgage term impact = (existing remaining term/new term in months) x rate that will apply to existing remaining term

Mortgage Increase term impact = (100%-(existing remaining term/new term in months)) x new net rate with 0.05% increment

Blended Rate = Existing term impact + mortgage increase term impact

Example#1: copy of Blend Test Case attached

Existing Mortgage Balance	300000
Existing Mortgage Rate	2.98
Existing Mortgage Maturity Date	27/09/2025
New Term	60
New Mortgage Amount	500000
New Mortgage Net Rate	5.29+0.05
Current Date	02/07/2024
Current Posted Rate for the term	6.84

Existing Remaining Term = 15

Impact of Mortgage Increase
Existing Mortgage rate impact	1.79
New Mortgage rate impact	2.14
Rate that will apply to existing remaining term	3.92

Impact of Extended Term
Existing Mortgage term impact	0.98
Mortgage Increase term impact	4.01
Blended Rate	4.98

Blended Posted Rate 6.84 + 0.05 Increment -1.91 discretion = 4.98

System will ask if User wants to accept the new blended rate

if yes - new blended rate is applied
- system still displays the Posted Rate for that term
- system displays a rate blend increment
- system displays Net rate
if no - the system will untick the blended rate box and remove the blend increment

The system recalculates the blended rate when the product is changed or reapplied and asks again if the user wants to accept the new blended rate.

Currently, when a product with a Blended Rate is reapplied—typically due to a rate change in the Manager Portal—the system correctly recalculates the blended rate using the updated rate. However, this behavior is not clearly communicated to the user, which may lead to confusion.

Additionally, if the Blended Rate was originally selected, it should remain selected when the product is reapplied. To improve user clarity and consistency, a message should be displayed to inform users that the blended rate will be recalculated, and the selection should persist during the reapplication process.

A new increment should be applied when a blended rate is selected.

There will be no changes to how rates are calculated when a product is reapplied.

The system will display a message indicating that the Blended Rate will be recalculated when reapplying a product.

When the rate is changed in the Manager Portal, a warning appears next to the affected product in the deal.

If the product (e.g., Mortgage, LOC) has a Blended Rate applied and the user chooses to reapply the product (e.g., Broker Conventional Fixed etc.), a new message will added to the “Are yo usure you want to apply this product?” confirmation popup.

The message will be: “Blended Rate applied. It will be recalculated based on the updated rate.”

Reapplying a product should retain the Blended Rate selection. When the user clicks Reapply Product, and Blended Rate is already selected for the product, the system should keep this selection. The Blended Rate should remain applied after the product is reapplied. If the rate is changed, the Blended Rate should be recalculated using the updated rate.

There is a new increment added for Blended Rate in both Origination and Servicing and it will be applied automatically when a Blended Rate is applied to the deal. It will be re-triggered whenever the blended rate option is selected or deselected.

Type: Blended Rate
Category: Standard Increments
Source of Business: One record for Broker, and another record for Retail, Digital, Mobile.
Term: Any Term
Provinces: Any Province
Amount (%): 0.05

Increments and Decrements

Note: Increments are controlled by a tenant setting feature and may not be applicable in your environment.

We have functionality to support Increments and Decrements within the system. When applied, the values for these fields will automatically be considered in the necessary calculations. This feature is permission-based. The two permissions tied to increments are: “Create and edit custom increments on a mortgage” and “Edit increments on a mortgage”. If a user is assigned a role with this permission enabled, they gain the ability to add or edit increments. This ensures that those who require this capability can seamlessly manage increments, empowering lenders to control access effectively.

Similarly, the permission tied to decrements is “Edit decrements on a mortgage”. If a user is assigned a role with this permission enabled, they gain the ability to edit decrements.

Increments and Decrements can be managed in their respective sections of the Manager Portal by admin-level users. Once configured, they can be applied within the application.

Decrements:

Increments:

Applying Decrements:

To set the decrements on an application, simply click on the dropdown and select the appropriate option.

Based on the option selected, the system will automatically update the Ne Rate output. In the example above, the Net Rate was equal to the Base Rate at 4.34% before the decrement was applied.

After the decrement of 0.10% was applied, it was deducted from the Base Rate, putting the Net Rate down to 4.24%. Click on this link to watch a video of this functionality: Managing and Applying Decrements.

Applying Increments:

To add an increment to the deal, click on the Apply Increment button next to the Increments (%) field.

This will open a sidebar where the user can select the appropriate option from the predefined list. Depending on your organization's increment configuration, the table in the sidebar will be organized in sections based on the Increment Type and could include: Standard, Non-Income Qualifying, Horizon Credit Program, LTI, LOC and Bridge. These sections can be expanded and collapsed as necessary using the arrows next to the section headers. Simply click on the checkbox next to your desired option and the system will automatically add the increment to the deal. On the flip side, you can click on the selected checkbox to remove the increment.

There is a tooltip at the top of the sidebar that tells the user if an increment has been applied or not.

To edit the selected increments, click on the pencil icon next to the Increments (%) field. In the sidebar that opens up, select the desired option(s).

If a user does not have the necessary permissions to edit or add an increment (custom or regular) or decrement, the Apply buttons will be greyed out as will the option list for decrements. Hovering over the greyed out button tells them they do not have the necessary permissions to allow them to add or edit increments or decrements whichever the case may be.

As noted earlier there are two increment permissions. One for editing increments and the other for creating and editing Custom Increments. It is possible the user has one of the two permissions allowing them to perform one of the functions as opposed to the other. Fields will open up to edit depending on how the permissions have been set for their role.

Applying Custom Increments

If the desired option is not available, the user has the option to apply a custom increment providing they have the relevant permission. To do so, click on the Apply Increment button next to the Custom Increment (%) field.

This will open up a sidebar where you can enter the details for the custom increment. Both fields i.e. Custom Increment (%) and Notes are mandatory. Once completed, click on the Add Increment button.

Once added, the only way to remove the custom Increment from the deal is to set the value to 0%. To do so, click on the pencil icon beside the custom increment field.

In the sidebar that opens, update the value of the custom increment to 0% and add your notes.

The system will update the increment and Net Rate accordingly automatically.

The system will only allow users to select one increment from any non standard increment categories (Non-income Qualifying, Horizon Credit Program, and Bridge for example). For Bridge Loans, we have added default increments based on the Credit Score range. When the user selects the appropriate increment, the system will automatically add it to the application and update the calculations for the Net Rate accordingly.

As increments are added to the deal, the system will automatically update the calculations for the Net Rate. In the example below, the Net Rate was equal to the Base Rate at 4.34% before the increment was applied.

After the increment of 0.50% was applied, it was added to the Base Rate, putting the Net Rate at 4.84%.

Automatic Increments Computation

Note: This is a tenant setting and may not apply in your environment.

We can enable triggers for automatic increment computation. Increments should apply on ingestion based on increment configuration and users can continue to edit increments as needed. The system will apply increment maximums based on client configuration in the Settings tab of the Manager Portal.

Discretion

Note: This is a tenant specific feature and may not be applicable in your environment.

We have included a Discretion field under the Mortgage Terms tab in the Loan Details widget. The ability to edit this field is permission based, and it is tied to the “Edit discretion on a mortgage” permission. If a user is assigned a role with this permission enabled, they gain the ability to edit discretions.

It is further tied to whether the user has been given discretion limits. This is managed within the Manager Portal via User Management -> User Details -> Lending Limits -> Max Discretion.

To apply a discretion at the application level, click on the field and enter the discretion. The system will automatically add it to the deal and you will see it reflected in the Net Rate.

The system validates any Discretion (%) that a user applies against what their discretion approval limits are, as configured in the Manager Portal.

If the discretion applied exceeds the users limits, a warning icon will appear next to the Discretion field. The warning icon serves as a visual indicator that an approval will be required. In this case, conditional approval and funding will be blocked until the user receives the appropriate approvals.

If the user tries to conditionally approve or fund the deal before getting approvals, the following pop ups will appear:

There is an approval type of “Apply Discretion” set up in the system and defaults to Active and cannot be changed by the Lender.

The user simply needs to go to approvals and request an Apply Discretion approval from a user that is authorized to approve it. Once approved, the user can proceed with either the conditional approval or fund as applicable.

‘Amount To Be Advanced’ Tab

The Amount To Be Advanced tab is housed under the Requested Mortgage tab. This tab holds all the data related to the Amount To Be Advanced of the requested mortgage. The Amount To Be Advanced reflects any fees deducted from proceeds, PST, prepayment amounts, & holdbacks if applicable. It should be noted that the Amount To Be Advanced is a calculated field and is not editable. It will populate based on the data entered in the application per the formula.

There is a tooltip beside Amount To Be Advanced and PST to show the users the formula and values used to calculate the values.

Note: Only fees that are set to be deducted from the proceeds will have an impact on the Amount To Be Advanced. Fees that are indicated to be capped do not affect Amount To Be Advanced. Instead, they impact the Total Loan Amount. Fees that are entered without deducting or capping, but are to be included in the APR, do not impact the Amount To Be Advanced or Total Loan Amount.

‘Closing Instructions’ Tab

Within The Closing Instructions tab there may be two types of closing options depending on what you have configured/integrated in your environment.

The options you might see are:

One is to use FCT for your closing instructions, the other is to deal directly with a solicitor for your closing instructions.

In this section we’ll address ‘Add Closing Instruction’. Please see the FCT PFG for information related to using ‘Request FCT Closing Instruction’.

The Closing Instructions details should now include the following fields:

Type of Closing = Single-select dropdown field with the following options:
- —
- Existing Collateral Charge
- FCT
- FCT Request (disabled for MCU, consistent with current behavior)
- Solicitor
- Use Same Collateral Closing Instruction
Registration Type = Single-select dropdown field with the following options:
- —
- Collateral
- Conventional
Charge = Single-select dropdown field with the following options:
- —
- First Charge
- Second Charge
- Third Charge
Registered Charge Amount ($) - Numeric field
Registration Number = Numeric field
Submitted on = Read-only date field
Last Updated on = Read-only date field

For tenants with FCT Integration, refer to the our FCT PFG. FCT would be selected on a Purchase or Refinance transaction while Solicitor could be selected for Purchase, Refinance, or Switch/Transfer transactions. If Existing Collateral Charge is selected, then the Registration Number field opens up for population in addition to the other fields. Manual entry is required for these fields.

If FCT, Solicitor or, Use Same Collateral Closing Instruction are selected, then only the Registration Type, Charge, & Registered Charge Amount fields are open to data entry.

The configuration for the five fields is managed in the Custom Fields section of the Manager Portal.

Once a closing instruction is added, you will see it appear as a line item in the Closing Instructions summary and the Submitted on and Last Updated On fields will automatically populate with the date the Closing Instructions were added.

Users will see to the far right of the line item some icons and an ellipsis. The icons are from left to right:

Notes Icon is greyed out

Comments icon is greyed out

Disbursements icon

Within the ellipsis you will see the option to View Details or Delete:

Note: If there are multiple products, the users have the ability to indicate the closing instructions for each product independently of one another. The fields within this tab are usually completed by the underwriter(s). They are informational only to serve as a clear direction to the users responsible for sending instructions. There is no automation tied to these fields.

Disbursements

Disbursement Management:

There is a Disbursements tab which will contain a disbursements list as users add disbursements. Users can add, edit, and mark disbursements as complete depending on permissions their role has been assigned.

They require the Edit application permission to add, edit, or delete disbursements.

They require the "Mark Disbursement as Completed" to mark disbursements as complete.

The disbursements tab includes support for custom fields, history logs, and disbursement-specific updates.

Enables users to link disbursements to specific mortgage products if necessary.

Disbursements become read-only when marked as completed or when permissions are restricted.

Locked Applications:

Allows updating incomplete disbursements even when the application is locked, supporting post-funding workflows. In the screenshot below you will see the application is locked but the disbursement fields are open to edit and the delete function is enabled.

Link liabilities to mortgage product

Enables users to link disbursements to specific mortgage products if necessary.

There is a Source of Funds field in the Liabilities section, visible in both the list view and the add/edit form in the sidenav.
Enables the association of liabilities to specific mortgage products for improved tracking and funding instruction accuracy.

‘Broker Commission’ Tab

We have included a ‘Broker Commission’ tab within the Loan Details widget. The commissions are configured with Product configuration by admin-level users within the Manager Portal. They can be adjusted on a per product basis.

To learn more about how these are set up, refer to the ‘Commissions’ Tab section in the Products, Credit Tiers, and Rates PFG.

Once a product has been added to the application, the respective commission(s) applied to that product will populate in the Broker Commission tab in the Loan Details widget. Users are able to edit the New Funds, Standard Commissions and Broker Reduction Fee fields.

The system will automatically take the commission % as configured in the Manager Portal, apply it to the loan amount and calculate the commission to be paid on the file. The calculation will take into consideration any buydowns applied and a broker reduction fee, if applicable. When a buydown is applied, the total commission is reduced and is dependent on the individual lender's guidelines. I.E. The lender may subtract .20bpts for every .05bpts of buydown. This calculation is configured in the BE based on the lender's guidelines.

‘Existing Mortgages’ Tab

The Existing Mortgages tab holds the data relating to any existing mortgages associated with the subject property if applicable. On this tab, you have the option to view, add, edit, or delete existing mortgages. Additionally, you can choose the payoff method for these mortgages, which includes paying from proceeds, prior to advance, or selecting none.

Add a Mortgage - To add a mortgage, follow these steps:

Click on the "Add New Mortgage" () button
In the form that appears, enter all the appropriate information.
Once completed, click the Add Mortgage button. Any changes you made will automatically save.

Edit the Existing Mortgages Tab - To edit fields in the Existing Mortgages tab, follow these steps:

Click on the edit pencil in the top right corner of the widget to enter edit mode.
Navigate to the Existing Mortgages tab.
Locate the field you would like to update.
Click on the field and edit it. Any edits you made will be automatically saved.
When you done editing, click the Close Edit Mode button at the top right corner of the widget.

Delete a Mortgage - To delete a mortgage from the Existing Mortgages tab, follow these steps:

Click on the edit pencil in the top right corner of the widget to enter edit mode.
Navigate to the Existing Mortgages tab, and find the the mortgage you wish to delete,
Click the ellipsis () located in the line of the mortgage you wish to delete.
Select the delete option from the drop down menu.
A warning will appear asking ‘Are you sure you want to remove the mortgage record?’.
Click the remove () button and the mortgage entry be deleted. Alternatively, you can click the cancel button if you no longer wish to proceed.

Existing Mortgages Display Credit Limit on LOCs

You can identify if an existing mortgage is a Secured Line of Credit (LOC) in the “Loan Type field”. Upon selecting the LOC option, the system dynamically transforms the "Loan Amount" label to "Credit Limit". Updating this field to “Credit Limit” offers a more accurate representation of the borrower's financial landscape, aiding lenders in assessing capacity for additional borrowing, managing risk effectively, and making informed decisions on refinancing. The update also emphasizes the relevance of focusing on the credit limit over the balance, especially when evaluating existing mortgages and considering factors like Loan-to-Value (LTV) ratios.

Similar to liabilities, we have included a “Payoff & Paydown” field to the Mortgage entity. This allows users to indicate if an existing mortgage is going to be paid off or paid down in the same manner as liabilities. This field can be configured by system administrators within the Custom Fields section of the Manager Portal.

Within the Manager Portal:

Within the Loan Details Widget:

Security Type Field

Note: This is tenant specific and may not apply in your environment.

We have included a Security Type field in the Existing Mortgages tab. This is the same as the Security type field in the Credit Widget. It is a single select, manual population/edit field that will tie into aggregates if that is relevant to your organization. The system or user can now designate a security type for each existing mortgage. Users have the ability to specify the type of security for each liability. The available choices include: Mortgage Secured, Cash Secured, Secured, and Unsecured.

Lender Liability Field

Users can mark existing mortgages in the Existing Mortgages tab to ensure they are included in all mortgage aggregates (current and future) by checking off the Is Lender Liability checkbox. This ensures current aggregates also update when the "Is Lender Liability" checkbox is ticked.

‘Down Payments’ Tab

The Down Payments tab holds all the data related to the Down Payment associated with the Mortgage on purchase transactions. Down Payments can be created, edited, or deleted directly within this tab, or managed via the Net Worth widget. However, there are some restrictions on how the two sections relate to one another.

When you make changes to the Down Payment tab in the Loan Details widget, these changes will not be reflected in the Net Worth widget. However, if you select the down payment checkbox in the Asset tab of the Net Worth widget, the total value of the listed asset will automatically appear in the down payment tab of the Loan Details widget. Similarly, if you uncheck the checkbox in the Net Worth widget, the asset will be removed from the down payment tab in the Loan Details widget.

Note: We have implemented a tenant setting in which the down payment tab and the Financial Liabilities tab (tradeline fields) are locked to edits from a designated stage onwards (e.g. Adjudication Stage). If edits need to be made in either of these areas, the application needs to go back to the Underwriting stage first. This is lender specific and may not be applicable to your organization.

Add a Down Payment - To add a down payment, follow these steps:

Click on the "Add New Down Payment" () button.
In the drop down menu, enter all the appropriate information.

Note: There are no required fields to create a new down payment.
Once completed, click the Add Down Payment button. Your downpayment entry will be saved automatically.
Click the Close Edit Mode button at the top right corner of the widget when exiting the section.

Edit the Down Payment Tab - To edit fields in the Down Payments tab, follow these steps:

Click on the edit pencil in the top right corner of the widget to enter edit mode.
Navigate to the Down Payments tab.
Locate the field you would like to update.
Click on the field and edit it. Your edits will be saved automatically.

When you done editing, click the Close Edit Mode button at the top right corner of the widget when exiting the section.

Note: You can make changes to the assets listed in the Net Worth section, but these changes will not be reflected in the Down Payment tab. Thus, we recommend creating and managing your down payment information within the Down Payment tab of the Loan Details section.

Delete a Down Payment - To delete a down payment, follow these steps:

Click on the edit pencil in the top right corner of the widget to enter edit mode.
Navigate to the Down Payments tab,
Click the ellipsis () located to the far right of the down payment line time you wish to delete.
Select the delete option from the drop down menu.
A warning will appear asking ‘Are you sure you want to remove the down payment?’.
Click the remove () button and the down payment will be deleted. Alternatively, you can click the cancel button if you no longer wish to proceed.

Note: This can only be done if down payment is created within this tab and not populated from the Net Worth Widget.

‘Fees’ Tab

The Fees tab holds all the data related to the fees associated with the mortgage and how they are applied. These fees can be deducted from proceeds, capitalized into the loan, have no impact on Principal, or be included in APR. The Amount To Be Advanced and Total Loan Amount will reflect according to how these fees are input. Within this tab, you can view, add, delete and edit fees.

Note: Fees configured in the Manager Portal may apply either at ingestion or when a product is applied or changed. This is a tenant setting that defaults to disabled. To have it enabled, please contact the Client Success Team.

Users can also add any fees manually if necessary.

!Subtract from principal functionality! - Fees indicated as “Deduct” will impact your Amount To Be Advanced while fees indicated as “Cap” will impact your Total Loan Amount. Fees indicated as neither (marked with a '-') will not have any impact on the Amount To Be Advanced or the Total Loan Amount. Typically, these are fees that the lender wants included in the APR calculation but the borrower is paying independent from the mortgage transaction.

“Cap Fees Percentage” - This works in conjunction with the “Subtract from principal” option when "Cap" is indicated. When selecting Cap for a fee, there is an additional field directly to the right of Cap where you can indicate a percentage of the fee you wish to cap. By default, the cap fees percentage is set to 100%. However, if you want to cap only 50% of the fee, you can indicate it accordingly. This means that 50% of the fee will be capped, and the remaining 50% will be deducted. In this case both Total Loan Amount and Amount To Be Advanced will be affected.

Note: The percentage amounts for any fees indicated as Deduct or “-” are not editable.

As seen in the example below, only 50% of the $250 Administrator fee was included in the Total Loan Amount as a cap.

On the other hand, 100% of the $4000 Lender Fee and the remaining 50% of the Administrator Fee were deducted from the Amount To Be Advanced. The appraisal fee, however, was not included in either the Total Loan Amount or the Amount To Be Advanced.

It is important to remember that "Deduct" will impact the Amount To Be Advanced, and "Cap" will impact the Total Loan Amount.

Transfer Adjustment - This is relative to Porting a Mortgage or Switch/Transfers. Refer to the Ports PFG or Switch/Transfer PFG for further information.

Users have the option to add a default fee from a predefined list. Users are also able to create a custom fee if they have a fee they cannot find in the list (ad hoc fees). Any custom fees added in the UI will not populate the Default Fee list in the Manager Portal.

Add a Default Fee - To add a default fee, follow these steps:

Click on the "Add New Fee" () button located on the far right of the list headers.
Click on the Type field.
Select a default fee from the list. You have the ability to search or filter through the existing default fees.
The fields from the selected fields would populate for the relevant fields.
Click on the Add Fee button to save the information.

Add a Custom Fee - To add a custom fee, follow these steps:

Click on the "Add New Fee" () button located on the far right of the list headers.
From the drop down menu in the type field, select Custom Fees.
Complete the rest of the fields in the side panel

Note: All fees default to “Include In APR” Simply uncheck that box if you do not want that fee to be included in the APR calculation.
Once completed, click the Add Fee button and your fee will save automatically.
Click the Close Edit Mode button at the top right corner of the widget when exiting the section.

Edit the Fees Tab - To edit fields in the Fees tab, follow these steps:

Click on the edit pencil in the top right corner of the widget to enter edit mode.
Click on the Fees tab.
Locate the field you would like to update.
Click on the field and edit it. Your edits will save automatically.
When you done editing, click the Close Edit Mode button at the top right corner of the widget when exiting the section.

Note: When you make changes to either the % or $ fields, orange refresh icons will appear next to both the Percentage and Amount fields. These icons indicate that the values in the fields do not match. To correct this, click on the orange icon next to the relevant field (i.e. % or $) for the value that needs to be corrected or updated. The value in that field will automatically update to match the value in the other field. The system does not automatically update the 2nd field when one is updated.

Delete a Fee - To delete a fee, follow these steps:

Click on the edit pencil in the top right corner of the widget to enter edit mode.
Navigate to the Fees tab,
Click the ellipsis () located in the line of the fee you wish to delete.
Select the delete option from the drop down menu.
A warning will appear asking ‘Are you sure you want to remove the fee?’.
Click the remove () button and the fee will be deleted. Alternatively, you can click the cancel button if you no longer wish to proceed.

Re-apply fees on product change

When a product changes for a requested mortgage, the following will occur:

Any manually added fees will remain.
Any modified default fees will remain. A modified default fee means any default fee that was changed from when it was originally applied. This includes clicking to update the calculation:
Any unmodified default fees will be removed. Any other fees that were not modified will be removed.
Default fees will be applied based on how they are configured in the Manager Portal. There are some algorithms in particular with respect to the Product, Credit Tier, Term type and Purpose fields that determine how the system identifies which default fees to apply at ingestion, product selection, and product change.

These fields are all multi select fields but you also have the option to select:

- (All) which can be any value out of those that the system has, but needs to have a value. Selecting All is telling the system to look for at least one of those values when matching to the application. If none of the values are found it will not match and therefore not apply.
- You can also select (-) which means any or null. Selecting this option is telling the system to not evaluate or ignore this field when matching to the application.

These criteria must be set up in default fees for them to apply accordingly. In the screenshot below, the line that has dashes in the criteria section means that no criteria were selected or null. The system will ignore these fields when matching to the application. You also see that All Credit Tiers and All Types are also selected for Credit Tier and Term Type for the 2nd fee. In this case the system will look to match at least one of the values for those categories to the application. If none are found, the fee will not match and therefore not be applied.

To properly manage your default fees, we recommend accessing the default fees section in the application after applying or changing your product. This allows you to make necessary edits and remove modified default fees that were not automatically removed, and may now be duplicated or redundant. To learn more, click this link to watch a video demonstration.

Customize Table Button - This functionality enables users to select the specific columns they want to view in the Fees table and arrange them in their preferred order.

To customize the Fees table, follow these steps:

Click on the Customize Table icon.
A sidebar will appear on the right side of the screen.
Select which columns you want to display in the table by checking the corresponding checkboxes next to the column names.
To rearrange the order of the columns, hover to the left of the checkbox. When the drag icon appears, click and drag it to your preferred position.
Once you close the sidebar, the Fees table will automatically update to reflect your selections and column arrangement.

Note: We have created a tenant setting for default fees reapplying. The setting defaults to disabled. Therefore default fees will not reapply while working on the application such as a product application or ingestion for example unless the lender requests this be enabled.

‘Securities’ Tab

The Securities tab is used to identify which property or properties (blanket or multi product applications) is being used as security for the mortgage. If the applicants have additional properties that they want to use as security for the mortgage, excluding the subject property, those properties can be added in this section. The subject property will populate this section by default. All properties owned should already be listed in the Net Worth Widget. If a blanket mortgage is being considered you will see at the top of this tab two LTV calculations (LTV & CLTV). The CLTV calculation considers all properties and their associated mortgages, allowing the lender to accurately assess the impact of using additional security. The ability to transact blanket mortgages is controlled by a tenant setting.

Blanket

As you can see in the image below before the 2nd property was added as the additional security for the blanket mortgage the ratios were calculating on the 1st property added:

You can see once the 2nd security was added, the ratios updated taking into consideration the mortgage and value of that property. The CLTV calculation at the top of the tab will automatically update with the correct calculation taking into consideration the added security

Add a Security - To add a security, follow these steps:

Click on the 'Add New Security' button.
A drop down will appear with a list of the other properties on the application.
Select the property you wish to add. You will see that the value auto populates, this is pulling from the data entered in the Net Worth widget.
Click the ‘Add Security’ button on the bottom left of the drop down. Your edits will save automatically.
Once completed, click the Close Edit Mode button at the top right corner of the widget when you are ready to exit this section.

Multiple Securities and Products

Note: This is a tenant specific feature and may not be applicable in your environment.

Users can add multiple products and securities to an application. This functionality allows users to have the same or different security connected to a single or multiple products on an application. The exception being that users cannot have multiple securities linked to one mortgage product (blanket mortgage) unless you have the blanket mortgage tenant setting enabled.

Multiple mortgages (products) can be linked to the same security.

With the multi product scenario you have two separate mortgage transactions on two separate properties. The system is calculating LTI and LTV on them independently of one another.

With this functionality, the subject property will automatically populate in both the Security and Existing Mortgages tabs. When additional properties are added as additional securities, they will also populate within both tabs. The properties within the Existing Mortgages tab will also populate in the list within the left sidebar.

When you click on one of the properties, the list rendered in the center of the widget is filtered to the Existing Mortgages on that property.

Requested mortgages have a new icon if linked to a security indicating the address as a tooltip.

To understand more about this functionality, refer to the Adding Multiple Products section.

‘Insurance’ Tab

Note: The Insurance tab will only appear for tenants who have it configured.

The functionality for submitting and managing default insurance requests is contained within the Insurance tab located in the Loan Details Widget. As this functionality is quite extensive, we have created its own Product Feature Guide. Please refer to the Insurance PFG for more information.

Adding Insurance on Combo Deals

Note: This is a tenant specific feature and may not be applicable in your environment.

We have implemented functionality in the Insurance tab for combo deals. This allows users to apply for default insurance with any of the insurers. The requirements for this are that any of the products identified is a Mortgage (as opposed to Secured Line of Credit or Bridge), and has a product feature of insured (i.e. it is an insured product).

The system automatically filters out products that do not meet these requirements, and prevents the user from completing an insurance request. This is indicated by the greyed-out "Request MI Quote" button.

‘Lending Aggregates’ Tab

We have implemented the Lending Aggregates tab which displays and calculates all aggregates by security type including Retail and Business Banking connection. The Lending Aggregates tab is located in the Loan Details widget as per the screenshot below.

The ability to view this tab is dependent on automation in the Settings tab at the company level. To view this tab, the company would need to enable the “Enable expanded lending limits in user preferences” automation in the Manager Portal.

The Lending Aggregates tab allows a user to see total Lending Aggregates to ensure approval is within lending authority, and to ensure total connection is within lender guidelines/regulatory requirements and manage overall credit risk.

We can ingest data related to aggregates directly from the lender’s banking system API using the banking system security codes. In the screenshot below, the respective liabilities are updated with the respective banking system security codes - ensuring that the lending aggregates are represented accurately.

When you check the lending aggregates section, you will see the tradelines are listed per the security type that came over from the banking system:

Users can now mark existing Lender mortgages in the Existing Mortgages tab to ensure they are included in all mortgage aggregates (current and future) by checking off the Is Lender Liability checkbox. This ensures current aggregates also update when the "Is Lender Liability" checkbox is ticked.

Purchase Plus Improvements & Refinance Plus Improvements

We have added some options, fields and calculations to support Purchase Plus Improvements and Refinance Plus Improvements. The fields that display and certain calculations within the UI will depend on whether your application is a PPI or a RPI. You must indicate Purchase Plus Improvement or Refinance Plus Improvement in the Mortgage Classification field for these fields to render and the relevant calculations to take effect. Those options are available if Purchase or Refinance is indicated in the Application Type field.

Refinance Plus Improvement:

We have added a new mortgage classification option: Refinance Plus Improvement to enable lenders to effectively process these types of transactions.

If this classification is selected, there are new ‘Value of Improvements’ field, ‘As Improved Value’ field, and ‘Final Lending Value’ field that will appear in the in the right hand pane of the Commitment tab where users can indicate the value of the improvements that are being added:

The LTV calculations will use Final Lending Value instead of Property Value in LTV calculator

Uses Estimated Value (no min) for Refinance mortgage classification cases.

The Value of Improvements field that was previously in the Property Info tab of the Property Details Pop up remains. Both fields are synchronized and will populate as data is input into either one of them. There is now an As Improved Value added to the Property Info tab as well that is automatically calculated by data inputs with a tool tip that tells the user what the formula is to calculate the As Improved Value and the values used to calculate it.

Purchase Plus Improvement:

We have added a new mortgage classification option: Purchase Plus Improvement to enable lenders to effectively process these types of transactions.

If this classification is selected, there is a new ‘Value of Improvements’ field, an ‘As Improved Value’ field, and a Final Lending Value field that will appear in the in the right hand pane of the Commitment tab where users can indicate the value of the improvements that are being added:

In the ‘Value of Improvements’ field users can indicate the value of the improvements that are being added. The As Improved Value field will calculate and populate based on the purchase price plus the Value of Improvements that are input. There is a tooltip indicating the formula and the values used to calculate the As Improved Value.

The LTV calculations on a PPI are calculated using the Final Lending Value which Uses min (Purchase Price, As improved Value) in Purchase + Improvements in Purchase + Improvements

Uploading individual products

This feature is lender specific and may not apply to your organization. It enables operations users to upload products to their banking system or servicing system in a multi-product application independently.

Users are able to upload individual products from an application instead of submitting the entire application.

Products can only be uploaded if:

The closing date is today
They are in the Operations Fulfillment stage
They have the status "Ready for Closing"
They have product member number assigned
They have a product assigned
They have not been uploaded previously

If multiple products meet these conditions, they can be uploaded simultaneously.

Products that do not meet all criteria will be disabled and cannot be selected for upload.

Two products can be linked, ensuring they are uploaded together.

A new single-select field, Linked Product, is available at the product level. This field specifies the product that must be uploaded alongside the current product. The dropdown includes all other requested products in the application.

All linked products are disabled and cannot be linked to another product.

Workflow Example

An application contains three products:

Product 1 – Mortgage
Product 2 – LOC Flex
Product 3 – Mortgage

If the user wants to link Product 1 to Product 2, they select Product 2 in the Linked Product field of Product 1.

As a result:

Product 2’s Linked Product field is automatically updated to Product 1.
Product 3 cannot be linked to any product, as all options are disabled.

If the linked product is removed for one product, it is also cleared for the other.

Users can select one or multiple products for upload at the same time. However, only products that meet the specified eligibility criteria (see General Product Upload Criteria) can be uploaded.

For linked products, both must meet the upload criteria, as they are treated as a group and cannot be selected individually. If one product in the pair does not qualify, the group cannot be uploaded.

If no products meet the required criteria, the Upload button remains disabled.

If an upload attempt fails, users receive an error message listing the specific products that failed. This allows them to take the necessary corrective actions. Different rules apply depending on the type of product(s) being uploaded:

Single Product Failure
1. If a single product fails to upload, an error message is displayed, specifying the product that failed.
2. The failed product remains eligible for upload and can be retried until successful.
Linked Product Failure
1. If one product in a linked pair fails to upload, the error message will list the failed product of the two
2. The entire pair is considered not uploaded, and needs to be uploaded again until successful
Multiple Independent Product Failures
1. If multiple unlinked products are uploaded together and only some fail, an error message will list the specific products that failed.
2. The products that were successfully uploaded remain uploaded and cannot be uploaded again.
3. The failed products remain eligible for upload and can be retried individually or together.

In order to upload products, users require the permission to update and fund applications.

‘Loan Details’ Widget

Product Feature Guide

Table of Contents

Introduction

‘Application’ Tab

‘Requested Mortgage’ Tab

Google Maps View

Address Details

View Property Details Pop-Up

Product Field

Re-applying Products

Advanced product change recognition and warnings

Application Purpose versus Mortgage Classification

System Value Updates (Purchase Application Purpose only)

Source of Business

Purpose Code Field

Adding Multiple Products

Max Borrowing Limit Field Logic Update for Line of Credit Products

Mortgage Status

On Hold, Cancel, Decline, & Lock States on Products

Base Rate, Final/Net Rate and Original Net Rate

Understanding Variable & Adjustable Rates and Rate Holds

Understanding Prepayments

Automatic Date Calculations

Adjustment of First Payment Date and Impact on Amortization

Custom First and Second Payment Dates for Semi-Monthly Payments

Insurer Programs and Automatic Premium Recalculation

FTHB/New Construction - Amortization Greater than 25 years

Low Ratio Insurance (Insurable vs Insured)

Conforming Field

Other Requested Mortgages Fields

Product ID Field

Compounding Field

Program Code Field

Security Field

Closing Date / Restricted Dates

‘Commitment’ Tab

‘Mortgage Terms’ Tab

Product Field

Compounding Field

Amortized LOC Payments for Debt Service Calculations

Rate Hold Field

Discretion Field

Negative Amortization

Rates

Blended Rates

Increments and Decrements

Automatic Increments Computation

Discretion

‘Amount To Be Advanced’ Tab

‘Closing Instructions’ Tab

Disbursements

Link liabilities to mortgage product

‘Broker Commission’ Tab

‘Existing Mortgages’ Tab

Existing Mortgages Display Credit Limit on LOCs

Security Type Field

Lender Liability Field

‘Down Payments’ Tab

‘Fees’ Tab

‘Securities’ Tab

Multiple Securities and Products

‘Insurance’ Tab

Adding Insurance on Combo Deals

‘Lending Aggregates’ Tab

Purchase Plus Improvements & Refinance Plus Improvements

Uploading individual products