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Siebel eFinance Guide > Contacts > End-User Procedures >

Managing Mortgages

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Using the Contacts screen, end users can perform the following mortgage-related tasks:

• Perform a mortgage needs analysis. For more information, see Performing a Mortgage Needs Analysis.
• Make a mortgage recommendation. For more information, see Making a Mortgage Product Recommendation.
• Perform a mortgage prequalification. For more information, see Performing a Mortgage Prequalification.
• Use the mortgage calculator. For more information, see Using the Mortgage Calculator.

Performing a Mortgage Needs Analysis

End users can use the Needs Analysis Mortgage view to perform a mortgage needs analysis for a contact.

To perform a general needs analysis for a contact

1. Navigate to the Contacts view.
2. From the Show drop-down list, select My Contacts.
3. In the Contacts list, select a contact.

   NOTE:  If the contact does not exist, add it. For more information about adding contacts, see Adding Contacts.

4. Click the Needs Analysis view tab.
5. From the Show drop-down list, select Mortgage.
6. In the Needs Analysis form, add a record and complete the necessary fields.
7. If you do not know which values to enter:
   1. Click Script.
   2. In the SmartScript list, drill down on the Name hyperlink.

      The script session appears.

   3. Complete the questions as prompted.

      After the Needs Analysis form is completed, a recommendation can be generated.

      NOTE:  For more information about needs analysis and generating recommendations, see Financial Needs Analyses.

Making a Mortgage Product Recommendation

End users can use the Product Recommendation view to recommend mortgage products based on the loan term that a customer specifies. This view also displays the mortgage monthly payments, detail fees, interest rate, and points for each recommended mortgage product.

CAUTION:  All Siebel eFinance calculators described provide results intended for comparison purposes only; the accuracy of the results is not guaranteed. Any differences from the expected results can be due to rounding or the mathematical formula used. Contact your Siebel administrator to modify the formula used to perform calculations.

To recommend mortgage products for which a customer qualifies

1. Navigate to the Contacts screen.
2. From the Show drop-down list, select My Contacts.
3. In the Contacts list, select a contact.

   NOTE:  If the contact does not exist, add it. For more information about adding contacts, see Adding Contacts.

4. Click the Product Recommendation view tab.
5. In the Product Recommendation form, select Calculator Detail from the drop-down list.
6. In the Calculator Detail form, add a record and complete the necessary fields.

   The monthly payment is automatically calculated for the request loan terms.

7. Click Recommend.

   All the mortgage products that have the same loan term as that set in the Calculator form appear in the Recommendations list.

8. In the Recommendations list, select a mortgage product.

   The Rate/Points list displays the loan rate and points associated with the product while the Fees list displays the fees associated with the product.

Performing a Mortgage Prequalification

End users can use the Mortgage Pre-Qualification view to prequalify mortgage prospects before starting the application process.

To perform a mortgage prequalification

1. Navigate to the Contacts screen.
2. From the Show drop-down list, select My Contacts.
3. In the Contacts list, select a contact.

   NOTE:  If the contact does not exist, add it. For more information about adding contacts, see Adding Contacts.

4. Click the Mortgage Pre-Qualification view tab.
5. In the Mortgage Pre-Qualification Detail form, add a record and complete the necessary fields.

   Based on the values in the Prequalification Attributes fields, the Pre-Qualification Output, such as purchase price, loan amount, and closing cost, is automatically calculated.

   NOTE:  If you want to use a script to gather your contact's mortgage prequalification information, first create the script using Siebel SmartScript. After the script is created, open the SmartScript by clicking the SmartScript button in the Mortgage Prequalification form. The SmartScript prompts you to answer mortgage prequalification questions. For more information about SmartScripts, see Siebel SmartScript Administration Guide.

Using the Mortgage Calculator

Loan officers, loan originators, and other financial representatives can use the Siebel eFinance Mortgage Calculator to calculate and compare the following amounts for customers:

• Early Payoff, which calculates the new monthly payment amounts that are required to pay off a loan in a specified amount of time prior to the original mature date
• Loan Amount, which calculates the amount of money a customer can borrow, given a loan's monthly payment, interest rate, loan term, and down payment
• Loan Comparison, which compares different types of mortgage loans (ARM vs. Fixed Rate) from which the customer can choose one
• Monthly Payment, which calculates a customer's monthly payment, given the loan amount, interest rate, loan term, property tax, and insurance payment
• Refinance Breakeven, which calculates monthly savings and costs associated with refinancing an existing loan

CAUTION:  All Siebel eFinance calculators described in this guide provide results intended for comparison purposes only; the accuracy of the results is not guaranteed. Differences from the expected results may be due to rounding or the mathematical formula used. Contact your Siebel administrator to modify the formula for your use.

To use the mortgage calculator

1. Navigate to the Contacts screen.
2. Form the Show drop-down list, select My Contacts.
3. In the Contacts list, select a contact.

   NOTE:  If the contact does not exist, add it. For more information about adding contacts, see Adding Contacts.

4. Click the Calculator view tab.
5. In the Calculator form, from the Show drop-down list, select a calculation function:
   • Early Payoff
   • Loan Amount
   • Loan Comparison
   • Monthly Payment
   • Refinance Breakeven
6. In the Input section in the form, complete the necessary fields.

   NOTE:  If you want to use a script to gather a contact's loan information, first create the script using Siebel SmartScript. After the script is created, open SmartScript by clicking the Script button in the Mortgage form. SmartScript presents a set of questions to gather the loan amount information. For more information about scripts, seeSiebel SmartScript Administration Guide.

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