Product Search Tab

Optimal Blue gives you the ability to run a product search on a business channel level or at investor entity level within the configuration site. Use these steps to run the product search tab to run searches as well as to create profiles for searches that you perform frequently.

Product Search Tab User Guide

Using the Product Search Tab

Optimal Blue gives you the ability to run a product search on a business channel level or at investor entity level within the configuration site.

  1. Select the business channel or investor entity in your entity selection screen.

  2. Click the Product Search option in the Activity Selection menu.

The Product Search form appears:

  1. Enter the loan scenario into the product search form and click the Submit button at the bottom of the form.
NOTE: If you created a profile for your scenario, you can choose that profile from the Existing Profiles drop-down list box, and click Load Profile.

Some fields are available from the Configuration site product search that are not available on the Lender site. Those are as follows:

Search for a specific product/set. This option allows you to narrow your search results to a specific product/set.

User. This option allows you to run a product search under a specific user. If you choose a user from the drop down menu, the system applies the appropriate markups in the search results.

Search Type. This option allows you to run either a buy-side search, sell-side search, consumer quick search, consumer rate alert, or lead management auto-quote search. You can script rules around the Search Type field.  For more information, contact Optimal Blue Client Services.

  • Buy-Side Search: This type of search includes markups and delivery pads in the results. This is the type of result that the LO will see.
  • Sell-Side Search: This type of search does not include markups or delivery pads. This is the type of result that the Secondary user will see in the Best-Execution screen.
  • Consumer Quick Search: This type of search will display the results that are specific to the Consumer Quick Quote feature.
  • Lead Mgt Auto-Quote: This type of search will display the results that are specific to the Lead Generation and Lead Management Auto-Quote integration.
Include Compensation in Pricing. This option allows you to choose whether you include LO compensation in pricing (yes) or not (no). 

Lien Position. This option allows you to choose whether you search for a first lien or second lien. You must pick one lien position. You cannot search for a first and second lien at the same time.  

If you search for a second lien, you must type “0” in the 1st Lien Amount field, or the Lien Position field will reset to “First (w/o Sub. Fin.)” when you submit your search.  

You must also complete the following fields when searching for a second lien:

Asset Depletion. If you are selling Bank of Internet loans, you must ask your Client Success Manager to add the Asset Depletion field to your loan officer search form.

Pledged Assets.  If you are selling Bank of Internet loans, you must ask your Client Success Manager to add the Pledged Assets field to your loan officer search form.

Application Date. If you are using the LO compensation feature and want to use the application date as the effective trigger date, ask your Client Success Manager to add the Application Date field to your loan officer search form.

Disclosure Date. If you are using the LO compensation feature and want to use the disclosure date as the effective trigger date, ask your Client Success to add the Disclosure Date field to your loan officer search form.

Custom Fields. If you want to create fields that affect search results, contact Client Services to build custom scriptable fields. Your Client Success Manager can show you how to build rules around these fields.  Then, you can use the custom fields on the Product Search form to test the results for custom-scriptable fields.

Mtg Lates and Bankruptcy: These fields are applicable for some investors. They may need to be added to your lender site search form.
Lead Source: These fields do not appear on the lender form but can be used, if needed.
Non-QM: These fields do not appear on the lender form but can be used if needed.

  1. Your search results appear on the right side of the screen, showing your eligible, ineligible, and cannot determine eligibility products.

NOTE: To display the reasons eligibility cannot be determined, click the Show link in the Detail column next to the appropriate product.

To display the disqualifiers for Ineligible products, click the Show link in the Detail column next to the appropriate product.

  1. To access the guideline documents, click the Docs link next to the product in the product list.

  2. To display the fully adjusted pricing grid for eligible products, click the product or Show link.

  3. The loan level adjustments and the notes and advisories appear at the bottom of the adjusted pricing grid.

  4. To view the price trace, click a price in the grid.

RateSheet Pricing Grid – UnAdjusted — Pricing in this grid should match the investor rate sheet exactly.

Extended Lock(s) and Sourcing Adjustments — These grids show any extended lock period adjustments, as well as any system level sourcing adjustments.

RateSheet Pricing Grid – UnAdjusted — This grid shows the adjusted rate sheet pricing after the previous adjustments (lock period adjustments and/or system level sourcing adjustments) have been applied.

Markups & Delivery Pad — Markups and delivery pads display, if they have been applied.

Pricing Grid – Adjust Base — This grid shows the adjusted base pricing.

Scripted Adjustments — The scripted loan level adjustments, along with any notes and advisories, display in this grid.

Adjusted Pricing prior to Filtering & Dynamic Markups — The adjusted price after all the loan level adjustments have been applied but prior to any filtering and dynamic markups displays in this grid.

Dynamic Markups and Display Filters — This grid shows any dynamic markups and filtering that you have applied to this investor.

Final Pricing — The information in this grid reflects the final LO price.

NOTE: If you encounter a price discrepancy, research using the price trace.

Managing Profiles

From the Product Search tab, you can create profiles to save you time with searches that you perform frequently. For example, you can set up a Conforming 30 year fixed loan scenario and a FHA 20 year fixed loan scenario.

  • To create a search profile, enter the search criteria, enter a name in the Create a New Profile field, and click Save Profile.

  • To load an existing profile, choose the profile from the Existing Profiles drop-down list, and click Load Profile.

  • To delete a search profile, select the appropriate profile from the Existing Profiles drop-down list, and click Delete Profile.

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