Realtors® Corner
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THE INTERPRETER – More Details
- Software Requirement: THE INTERPRETER requires Microsoft® Excel XP or later be installed on your computer at time of download.
- “Works backwards” from borrower cash and payment constraints and seller payment to find the purchase or refinance scenario that will result in precisely those constraints! May include flat and percent real estate commissions paid by either or both parties.
- Real time: Linked to daily rates, loan program costs and parameters, and quoted third party closing costs. Lender license packages include the LenderLinQ® application which is used to compile daily rate updates.
- Simple to Use: Arrives completely set up and requires only 2 or 3 entries to generate fully itemized transaction scenarios.
- Automatic Rate Alternative Selection: Selection is based on maximizing the purchase power of the borrower‘s cash constraint. Also includes manual rate selection.
- Automatic Division of Itemized Transaction Cost Payments: Divisions result in specified seller payment constraint. May include flat and percent real estate commissions paid by either or both parties. As detailed as a HUD1. May be used for closing instructions.
- Comprehensive: Deals with up to 28 loan programs including up to 9 rate alternatives per program. Deals with FHA, VA, rural housing, ARMs, interest only and down payment assistance programs. Rate information includes required rate and point adjustments for loan size, features, purpose, use and lock period. Displays, prints and optionally stores scenario results including Good Faith Estimate, seller's estimated net sheet and buyer's cost worksheet. Results may be emailed from within the application with copies automatically archived.
- Risk Related Price and Margin Adjustments: User may increase or decrease quoted rates and points and ARM margins to deal with varying credit risks. Also includes a round-for-par adjustment option to create the availability of a par price.
- Counseling Analytics:
- Finds the loan programs that afford the maximum purchase power of a buyer's cash and payment constraints and specified seller payment. Lists up to 14 alternatives in descending order of purchase power. Option to display details.
- Finds the “financially correct” rate/cost selection based on buyer's expected tenure of ownership and tax bracket. Lists the alternatives in descending order of best. Option to display details. Uses present value analysis.
- Alternative List Terms Analysis determines if there is a buyer benefit to the seller paying closing costs and what level of seller payment should be built into the list price. Also very useful during contract negotiations in calculating a counter-offer price that includes the requested seller payment. Uses present value analysis.
- Finds and lists refinance scenarios for EVERY rate alternative of a given loan program. Works backwards from breakeven or cash in/out to find precise refinance scenario. Conclusively determines the financial benefit over the expected tenure of ownership. Uses adjustment factors for valid comparisons that include cash out or cash in. Uses present value analysis. Generates GFE for each alternative.
- LOS/AUS Interface: (Custom Upgrade) The line item details created in THE INTERPRETER thoroughly populate lender's loan processing software application. Thoroughness includes separation of buyer and seller cost items. GFE and TIL immediately ready to print or submit for AUS decision. Includes LOS import of scenarios sent by referral partners.
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