This article will walk you through properly setting up the Non-Conforming SRP adjustment (One-Time activity), as well as how to update the SRP going forward.
Note: Wells Fargo does not change the Non-Conforming SRP as often as their other products, but it should be checked every time you receive a new SRP schedule.
One Time Set-Up
The Non-Conforming SRP is located on the Non Conf Grid tab of the SRP Schedule.
- In your Wells Fargo entity, go to Manage Products.
- Scroll all the way to the bottom of the page and Select SRP Source: Non-Conforming 25/30 Year Fixed.
- Select the ‘SRP’ Activity Selection on the right
- Click ‘Add New Grid Set’ and name it ‘Non-Conforming 25*30 SRP. Click Add.
- Click ‘Add Scripted Rule’
- Name the rule ‘ Non-Conforming 25/30 SRP’
- Click Save.
b. Input the SRP value from the SRP excel schedule
c. Click Update
d. Best practice is to insert a comment when it was created/updated
e. Click Add Comment
Complete these steps for each Non-Conforming Product you are offering (Non Conforming 20 Year, 15 Year, 5/1 ARM, 7/1 ARM, 10/1 ARM).
Sourcing from the product to each SRP placeholder should already be set. To check this, go to each Non-Conforming product Elig, Adj, SRP Source. Confirm the SRP is sourced to the correct placeholder.
As you receive updated Wells SRP Schedules, you will need to upload into Optimal Blue for all Non-Conforming products.
If you elect to, the Optimal Blue system will inform you when Wells Fargo notifies us that your client specific SRPs have changed and a new SRP file has not been uploaded to your site for all Wells Fargo entities. The notification will display as a pop up message when logging into the Configuration Site. Users will have the option to either close the notification until the next time a user logs in or dismiss the notification until Wells Fargo issues a new SRP schedule.
The following message notifies users of an SRP Change:
Customers who prefer not to be notified of Wells Fargo SRP changes have the option to turn off the notification completely at the entity level on the SRP Upload screen. Use the configuration option shown at the bottom of the screen below to enable or disable notifications in the SRP Upload screen.
- To Update Non-Conforming SRP’s, navigate back to the ‘SRP Source: Non-Conforming…’
- Select the ‘SRP’ Activity Selection
3. Click View/Edit Rule:
- Click Edit on Primary Action
- Edit the action value, click Update
- Input comment, click ‘Add comment’
4. Repeat these steps for each Non-Conforming SRP Placeholder.