Configure Product Change Options

Use this section to configure options that are specific to product change requests. 

NOTE:  Make sure that you also configure the general change request options, as described in the Configure General Change Request Options section.

  1. Choose the appropriate investor from the Entity Selection menu, and choose Change Request from the Activity Selection menu.

  2. Complete the fields in the Product Changes section:

  • Total Product Changes Allowed Per Loan—Enter the total number of product changes allowed per loan.

NOTE:  If the number of change requests exceeds the Total Change Requests Allowed Per Loan, an originator cannot perform a product change, even if the total number of allowed product changes has not been exceeded.

  • Cost—Enter the cost for the product change, if any.

NOTE:  To worsen the price, enter a negative value.

  • When Displaying Pricing for the Same Investor—Choose the pricing option for product changes for the same investor: 
    • Show Pricing from Original Lock Date
    • Show Pricing From Current Date
    • Show Worse Case Pricing between Original Lock Date and Current Date
    • Auto-accept all product change requests for the same investor
      Note: If you auto-accept change requests for this scenario, please reach out to Client Services to confirm that the Lender site entity preference is configured to use policy settings.

  • When Displaying Pricing for a Different Investor—If you want to allow product changes for a different investor, choose the appropriate pricing option: 

    • Show Pricing from Original Lock Date

    • Show Pricing From Current Date

    • Show Worse Case Pricing between Original Lock Date and Current Date

    • If you do not want to allow product changes for a different investor, choose the Not Allowed option.

  1. Click the Update Configuration button.

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