Details of changes and enhancements to the latest version of Sourcing Brain
In this guide:
A review of the business logic within the filters has been carried out to ensure that when parent filters are selected, e.g. FTB, Homemover, Remortgage etc, only the relevant child filters are active, e.g. Include Second Charge, Right to Buy, etc.
Specified lenders - better visibility of selected lenders UI
Within the Specify Lender option, there is now better visibility of the lenders that have been chosen from the list. When the lender has been selected from the drop-down list, the software now displays the chosen lenders underneath, allowing the user to immediately see which specified lenders have been selected without the need to scroll through the full lender list.
Closing Multiple Tab Searches
Within Sourcing Brain, there is the ability to create as many additional searches within the scheme list as required. There is now the option to close any of these tabs. By clicking on the blue X, the user can select individual searches to close down. The software will only display the blue X if there are multiple tabs displayed and will never allow the ability to close all of the tabs.
‘Totals’ on Payment Schedule
A number of brokers have requested that we provide a totals line within our payment schedule. This has now been included to total the Capital Repaid and the Interest Repaid columns, providing a combined total in the bottom left corner.
Support for Switching Products
Mortgage Brain already has support for retention products but many of the mainstream lenders restrict their remortgage retention products so that they are only available if the loan amount for the new loan is the same as in the current loan. We currently put this restriction in the Scheme Notes text.
Products where the new lender is the same as the current lender, the customer is not moving (so it is a remortgage) and the new loan is the same as the current loan are known as switching products. They are different from standard retention products because there is no need for Valuation fees (same lender, same property, no change in loan size), Conveyancing fees (same lender and loan amount) or TT fees (same loan amount).
Changes have been made to the software to support these products by making the Outstanding balance field mandatory if Specify Current Lender has been selected.
If a product has been excluded then it will state in the reasons for exclusion New loan must be the same as existing loan.
The scheme comparison currently has a requirement to only print if two or more schemes have been chosen. In a number of instances, brokers are using this summary to provide to clients and only want one scheme printed. Therefore, we have amended this function to allow for the printing of one scheme from comparison.
Broker Fee settings
A bug has been addressed, within the Fees tab of the Illustration process, to ensure that the broker fee names, amounts and text are all remembered by default.
Scheme List name
If printing the scheme list, the tab that is opened to display has now been renamed to Scheme List (was previously called Test).
Refinements made to some of the calculation surrounding the refinance fee.
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