Rate Source
Rate Source - determines what values the Customer Intelligence feature uses for a rate comparison against a contact's loan rate. The two options are:
- Optimal Blue's Mortgage Market Rate Indices
- Customer controlled rates
Optimal Blue Mortgage Market Rate
If toggled, the feature presents comparisons of daily monitored contact's rates of their most recent loan that matches their current address to current MMI rates.
TE uses the loan's term to determine if we should compare to a 15 or 30-year conventional loan rate from MMI.
Customer Controlled Rates
If toggled, TE presents you with the option to manually enter rates for the daily rate comparison calculation. This option requires that you manually and frequently update the rates to stay consistent with the market.
There is an additional fallback option to ensure rates are not inconsistent with market trends. You must choose a set number of days a rate can be manually set until the system begins using Optimal Blue’s MMI rates again. This safeguard is in place in case of any extended disruptions to your configured schedule.
Rate Benefit Threshold
This option allows you to choose how much of a rate benefit there needs to be before TE generates an alert.
Ex: If a contact has a rate of 6%, and the rate benefit threshold is set to 1%, that means it requires that the current rate falls to 5% or below for an alert to be triggered.
Days Between Alerts
Allows you to choose how often you reach out to contacts about potential refinance options. Rates change everyday so the feature calculates potential opportunities each day.
Months After Loan Closure
Setting that lets you choose how soon after one of your contacts closes on a loan before you reach out to them about potential refinance opportunities.
Click Save at the bottom of the page and toggle the alert to active once complete.