ICE PPE (Product and Pricing Engine) is a powerful pricing tool integrated within the Encompass® mortgage software solution. It streamlines pricing, locks, and compliance, enhancing growth, efficiency, and profitability in a single platform. With ICE PPE, you can quickly access rates, verify eligibility, maintain accurate data, and stay updated on changes that impact loan scenarios. In this demo, see how ICE PPE can help you minimize the time spent on the most labor-intensive lock desk tasks.
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TechTranscript
00:00IcePPE is a powerful pricing tool integrated within the Encompass Mortgage Software Solution.
00:12It streamlines pricing, locks, and compliance, enhancing growth, efficiency, and profitability
00:19in a single platform.
00:20With IcePPE, you can quickly access rates, verify eligibility, maintain accurate data,
00:27and stay updated on changes that impact loan scenarios.
00:31In this demo, you'll see how IcePPE can help you minimize the time spent on the most labor-intensive
00:37lock test tasks.
00:39Joey Waters from Ice Mortgage Technology is joining us.
00:43Joey, take us through IcePPE.
00:45Absolutely.
00:46So, here I am logged into Encompass Web as my own officer.
00:53Simply open up the file, and I'll show you a little bit of the new UI.
00:56So, yep, while utilizing Encompass Web, we'll hop into the file, make our way to the Tools
01:02tab and Lock Request form.
01:06Once we scroll down here to the bottom, we can simply launch out to the Pricing, we'll
01:11get pricing.
01:14So IcePPE will load up based off all the parameters in the file, and it will pull up pricing for
01:19the user.
01:20Once they're ready to select the price, they just simply click the rate.
01:29Takes them over to the Summary page, gives them a breakdown of all the base price and
01:33the LLPAs.
01:34Simply request the lock.
01:42I do have auto-lock functionality turned on, so to expedite this a little bit, so this
01:47will automatically lock the file for the user.
01:49There we go.
01:51You can see up top right here that it shows that it is locked.
01:56Now that it's locked, we can utilize the...I can show you guys a little bit of some of
02:01the functionality with the auto-validation of material data changes, our Lock Comparison
02:06tool.
02:07And so I'll actually hop out of this file real quick, or actually, before I hop out,
02:10let's make a few changes, and then we'll show you how the validation tool works, or the
02:16Lock Comparison tool.
02:20So they come down here, and they make a change to the FICO, or they can come down and make
02:25a change to one of the down payments or the purchase price.
02:29So this is locked, so they're actually locked out of it right now.
02:32Let me hop out and pull that up with my secondary, and we'll make that change, and I'll show
02:37you in real time.
02:46Yeah, this is the one we just locked right here.
02:53If I were to hop in and make a change to this file, put the down payment, say it's only
03:0125% now, it'll update.
03:07So if I go down to the Tools tab again and hit the Lock Comparison tool, once I save
03:18it, you'll see that the Lock Comparison screen loads up, and it's going to show me that I
03:22have five fields that have changed, and also that it needs validation.
03:26So the really cool thing about this tool right here is that you can customize these fields
03:30that are being checked.
03:31You can identify up to 50 fields, and with those 50 fields that you find important for
03:36the loan data, you can do a real-time comparison.
03:39So anytime something changes, it will notify you.
03:42You can have it set up to where it shoots out emails.
03:44You can have it to auto-validate, where it will automatically run pricing and see if
03:48it's affected, if the loan is still eligible.
03:51You can have it automatically update the file as well.
03:54A couple of key points for that would be a disclosure team.
03:57If they get notified, they can hop in and see, hey, do I need to resend disclosures?
04:02They can come to this screen and see if it still needs validation.
04:05If it does, then they know that they need to hold off and wait till it gets updated.
04:09This is a very powerful tool.
04:11Let's say a loan or a processor is working late at night or something like that.
04:15They make an update to the file.
04:17They forget to submit the change.
04:18That way, this tool automatically running multiple times a day.
04:22Every time they save it, you can have this tool fire.
04:26There's no surprises when it comes clear to close and docs are being dropped.
04:30Once your team is notified, if you don't have it auto-validating, you can come in here and
04:34simply click the validate pricing tool or pricing button, my bad, and this will load
04:42up the ice PPE again.
04:44And so what this is going to do is it's going to show you in real time what the original
04:48price was and what the new proposed price is.
04:51And here we go.
04:52So you have the active lock right here and you have the proposed pricing.
04:56You can see that the hit to the LTV and FICO had increased by half a point and your new
05:00price is now 99.75, a drop from half a point down to from par spot 375.
05:08So your team can see this in real time right here.
05:10If I want to update the lock, I simply just click update.
05:13If I want to deny it or cancel, I also have that capability as well.
05:18You also have a really cool new tool for us and it helps streamline a lot of the processes
05:23is the analyzers.
05:24The analyzers basically give you a breakdown of where pricing is at time of lock, anytime
05:31it's been changed or when it was requested.
05:35So here's my current price.
05:36If I scroll down, this one's been updated a few times.
05:39I even have my lock request, but you can see the price is still the same and it even highlights
05:43worst case.
05:44The really cool functionality with this is when I click up here at compare rates, it's
05:49going to open up a screen that has three columns basically for me and I can come in here and
05:54compare pricing in real time without having to do any digging or anything like that.
05:59If it's a relock, let's say this file was locked originally back in maybe November.
06:06I could simply come back, click on like the 11th whenever it was supposedly locked and
06:11I could click on the time.
06:13When I click off of it, it will compare pricing to that time.
06:18So on November 11th, 7% was actually at par spot 625.
06:22So you can see that the market was significantly better.
06:25If this were falling into your relock policy, you would know that the worst case pricing
06:29truly is today's request.
06:31So you can make that update and proceed with that lock if you wanted to.
06:35If it were the other way around and this were the worst pricing, you could then select it
06:40and relock it with that day's pricing without having to go back and dig through a bunch
06:44of rate sheets or anything like that.
06:46You'll be able to see the relock pricing right here on the screen.
06:50Another functionality for this would be for any renegotiations.
06:53When the market does finally come back and improve, we might see a lot of renegotiations
06:57if there's a sudden shift in the market.
07:00This way, based off of your policy, you could compare the data and you could then update
07:04however you see fit.
07:06And you can do this up to three different columns as well.
07:09These are two big highlighted features that we think are going to be a big time saver
07:12for a lot of our clients.
07:14And if you do want to proceed with either one, you simply just click on the button and
07:17you can apply the new price if you'd like.
07:26And it's going to accept the lock update if I want, and that will push over in real time.
07:32So both of those is lock comparison tool and you can manage that in your admin settings.
07:38You can do any up to 50 fields if there's a field that you want that's a custom one,
07:41you can add that as a custom field and then mirror that field and it will then pull in
07:45and monitor those for you as well.
07:54And now that's been updated and there's no longer a need for validation.
07:59So kind of killing two birds with one stone there, highlighting our lock comparison tool
08:03with the auto validation and you can run business workflow management rules to have that auto
08:08update for you.
08:09And then also showing you a little bit of the analyzer functionality that we have as
08:13well to kind of keep this, um, keep you more streamlined and more efficient.
08:17Nobody likes to waste their time and digging through all of the, uh, the rate sheets and
08:20old historical pricing when you can simply just click a few buttons and you have that
08:24available for you right there.
08:26Now as far as on encompass web, you can also highlight a few of the other features we have
08:31that we rolled out with 24.2 and 24.3 if I were to hop into the locker quest form.
08:37We also added, uh, in company or excuse me, ice PPE user roles.
08:42Think of it like encompass personas.
08:44You can now grant access and authority based off of a role.
08:48So those are a couple of highlighted features.
08:50I like to show this off.
08:51I think it's a really cool feature.
08:53If I were coming in here and potentially having an LO that's having issue pricing out a non
08:58QM or any niche file, something that is just not easy to price.
09:03If I come back here to the search tab, I have this right here, my loan officer.
09:08This is an assigned loan officer functionality that is not standard with most users, but
09:14with your lock desk and admin, you have that ability.
09:17I could then come in here in real time and price this out as any of my loan officers
09:21that I like.
09:22So I could come in here and price this out as myself, Joey waters, the loan officer and
09:26in his search and it will update in real time.
09:30I believe we might have the same margins.
09:32I'm not a hundred percent sure, but it would update and pull up the pricing with that user
09:37right there.
09:38So if I have a client or I have a, an LO that's having issues, I can simply pull this up,
09:44clarify what the issue was in their pricing scenario and let them go in and update it.
09:48Or I could update it and save it for them.
09:50And then they would have the ability to come in.
09:52When I do this, this is the exact view that the loan officer would see with their permissions.
09:58So it kind of helps you as a lock desk, secondary team to help hop in without having to memorize
10:02logins or maybe jumping back and forth to help out a user.
10:06You can just hop in with your credentials to make that change.
10:11And those are a couple of the highlights that I really wanted to showcase here with our
10:14time.
10:15I know it's a little short, but I think these are some of the big features we have.
10:18And then, you know, if you want more information, definitely a demo I'd recommend setting up.
10:23Joey, thank you so much for taking us through this brief demo of Ice Mortgage Technologies
10:29product and pricing engine.