What’s changing (correspondent loans only):

• Company partner leads will now have a reduced default margin of 1.25% (previously 1.75%).
• LOs should use 1.25% where possible to preserve margin, but may reduce the margin to 1.00% at their discretion when required.
• Margins below 1.00% require an exception request via the Price Exception Request Form
• Pre-application price exceptions should also be submitted via the Price Exception Request Form.

How to access this pricing in Vesta

Step by Step Guide

• This pricing only applies to correspondent loans.

  • Make sure the loan channel is set to retail

    
• Go to the Loan product tab to price

  
• Make sure the lead source is set to “Company Partner.”

  • When pricing, select Company Partner in Additional Info (see screenshot)

    
  • Eventually, lead source will autopopulate in Vesta, please double-check that it is correctly tagged before pricing

    The reduced pricing options will only appear if the lead source is correctly marked.
• Once the lead is tagged properly, 1.25% margin rates will be available
• We leave an additional 25 bps concession up to your discretion. Whatever reduction was chosen needs to be added in Vesta

  • Below product selection, click the Price Adjustments button:

    
  • This window will pop up:

    
  • You will select Adjustment Type - Concession and type in ‘LO discretion’ for the reason
  • Then add the amount up to 0.25%
• For any concession more than 25 bps, please submit an exception via the Price Exception Request Form.