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Overview

The LoanVista Pricing Engine (PE) is the core calculation unit that takes row mortgage data and calculates the best available rates from multiple investors.

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Key Concepts

  • Investors & Products: Lenders (e.g., Fannie Mae, PennyMac) and their respective mortgage programs.
  • Rules & Guidelines: Eligibility criteria (FICO minimums, loan limits, property types).
  • LLPAs (Loan-Level Price Adjustments): Mandatory price adjustments based on risk factors.
  • Overlays: Additional custom rules applied by individual lenders.

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Calculation Workflow

The PE performs several steps to determine the final pricing:
  1. Product Selection: Filters all available products by borrower eligibility.
  2. Rate Retrieval: Fetches the base rate sheet for the selected products.
  3. LLPA Application: Calculates all applicable price adjustments.
  4. Final Price Ranking: Ranks the products by the most favorable price/rate for the borrower.

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Secondary Marketing Sync

The Pricing Engine is integrated with the RateSheetService which automatically imports new rate sheets as they are released by secondary market players.