This article describes how to set pricing adjustments using Dynamic Markups to charge an additional cost for locks requested after the lock desk closes. The process revolves around configuring pricing adjustments using the Search Timestamp variables in the Dynamic Markups & Rounding activity. For additional information download the Dynamic Markups and Rounding User Guide.
1. In your Configuration site, Entity Selection tab, select the business channel on the left. Then, select Dynamic Markups & Rounding from the Activity menu.
2. The Dynamic Markups & Rounding page is displayed. In the Available Markups section select the Create New Markup button.
3. From the Markup Type list, select Conditional Markup based on loan data (Loan Amount, Purpose, etc.). From the variable drop-down list, there are three different options to choose from. You may select multiple variables by selecting a variable to use, then selecting the Add Variable button. (All times should be set for Central Time.)
- Search Timestamp Day of Week – use this variable to adjust pricing for different days of the week.
- Search Timestamp Hour (24hr) – use this variable to break out the price adjustments by hour. Remember to use a 24-hour clock when setting the hour (e.g., 6 PM = 18).
- Search Timestamp Minute – use this variable as an addition to the timestamp hour. For example, if the lock desk closes at 5:30 PM and you want overnight protection to begin at 5:31 PM.
EXAMPLE 1
This example shows how to build out a “Search Timestamp Day of Week” and illustrates what the margin might look like if the overnight protection was the same time each day. First, add both “Search Timestamp Day of Week” and then add “Search Timestamp Hour (24hr)”.
This example includes margin changes for the weekends to illustrate how to include additional costs for weekend lock requests. We’ve also added two lines for each day during the week to cover before and after work hours.
EXAMPLE 2
This example shows a timestamp based off hour and minute. The image displays overnight protection from 5:30 PM CST up to 7:30 AM CST. Remember to use a 24-hour clock for the hours.
In this example we used the Search Timestamp Minute variable for 5:30 PM to 5:59 PM in the first line, as well as the 7 AM to 7: 30 AM. One of the benefits of the time stamp is that you can set it to 0 AM to 6 AM (as below), and it covers the entire hour of 12 AM through the entire hour of 6 AM. You would only need to break out 7:01 AM to 7:30 AM as a single line.
