This article explains how to blend fully adjusted final pricing using the Best Pricing search results tab.
Optimal Blue users can blend pricing using primarily two methods. The first option allows users to blend base pricing at the source. This is completed in the configuration site. See the Blended Pricing Sources guide for the process to complete this option.
The second option allows users to blend fully adjusted final pricing using the Best Pricing search results tab. The Best Pricing tab automatically combines all eligible products by type into one blended best priced grid. Products are grouped together by type: Conformed 30yr Fixed, Conforming 15yr Fixed, FHA 30yr Fixed, etc. However, you can manually control which products blend together using the Product Codes (Custom) grouping strategy. Investor product and adjustment details can either be shown to or hidden from the loan originators. Best Pricing is available in Traditional and Origination styles.
Click on the rate link and the adjustments display:
Admin – Search Results
To enable Best Pricing, log into the Lender site and click the Admin tab
Navigate to the Search Results (Origination Style) admin page. (Best Pricing is also available with Traditional Style and is configured the same as described for Origination Style).
- Select the desired entity to enable and configure the Best Pricing tab (you may also check the ‘Apply to all Entities’ check box).
- Click the Enabled box for the Best Pricing tab.
- Click the Update button to save.
- The name of the tab and the order of the tab can also be configured using Tab Name and Tab Order fields.
The Blend Style, Grouping Strategy and enabling/disabling of ineligible products can be configured in the Extra Parameters section of the page.
- Blend w/o Adjustments Link – Hides investor details and pricing adjustments
- Show Investor and Adjustments – Displays investor names. When users click on the investor name (or hover over the price if using Traditional style search results), the pricing adjustments are displayed.
- Blend w/ Adjustments link – Investor details are hidden, but users can click on the rate (or hover over the price if using Traditional style search results) to display the pricing adjustments and Notes/Advisories.
- Search Filter Combos – Select this option to group eligible products in the Best Pricing tab by loan type and loan term.
- Product Codes (Custom) – This option allows users to create custom product groups by product codes.
Show ALL Ineligible Products
- No – Hides ineligible products from the search results.
- Yes – Displays ineligible products in the search results.
Product Codes (Custom) Grouping Strategy – Product Code Configuration
If you’d like to group products in the Best Pricing tab by product codes, you can configure the product codes by logging into the Configuration Site and completing the steps below.
- Select the investor to be customized and click the Manage Products activity.
- Select the product and click the Product Preferences and Filters activity.
- Edit the Product Code as necessary. Products with identical product codes will be grouped together in the Best Pricing tab. Additionally, products can be excluded from a blended grid with a unique product code.