Loan Workbench: Selling Calculator Tools

Create refinance scenarios against your borrower's current loan and generate presentations to send to the borrower through Command Center. 

Create a Refinance Scenario for the Borrower

      1. Navigate to Pipeline from the left-hand menu. 

      2. Double-click on a Loan Number, and select the Selling tab. 

      3. Click on Calculate Refi , and a new tab will open. 

      4. Fill in the  Borrower's Existing Property details and click . 

      5. Next, fill in the Existing Loan details. Once the Existing Rate is entered, the Amortization will populate each month on the current loan term: Payment, Interest, Principal and Balance. Click . 

      6. Enter the New Loan Information, and click . Add as many loan scenarios to get a comparison of the borrower's current loan information versus what they can receive when they refinance. 

      7. When you are ready to compare the results, click . 

      8. View the current and refinanced loan details. 

1. Break Even: View when the borrower will break even on their refinance options.
   
2. Monthly Savings: Compare your existing monthly payments versus the monthly payment on your refinance scenarios.
   

      9. At the bottom-right, enter the refinance scenario file name. Click  to save the scenario to the loan record in Command Center. The Refinance presentation will be saved in the Selling tab of Command Center's Loan Workbench. Multiple presentations can be created and removed from the loan record in Command Center. 

Note: Presentations do not appear in the Encompass loan record. 

Compare multiple refinance options against the borrower's current loan to evaluate any potential benefits and if refinancing is the best choice for them. 

Create a Consolidate Debt Scenario for the Borrower

      1. Navigate to Pipeline from the left-hand menu. 

      2. Double-click on a Loan Number, and select the Selling tab. 

      3. Click on Consolidate Debt , and a new tab will open. 

      4. Fill in the  Borrower's Existing Property details and click . 

      5. Next, fill in the Existing Loan details. Click . 

      6. Enter any Debt & Obligations the borrower has at the time. Click . You can add multiple debts to this scenario. 

      7. When you are ready, click  to move to the next tab. 

      8. Enter Cash Out information. You can leave it blank and click . 

      9. Enter the Qualifying Rations & Proposed Loan information, and click  to view the Debt Consolidate Scenario. 

      10. View the Ratios, Monthly Savings and Investment of Savings when you consolidate the borrower's debt.

      Note: AFN Team members can always go back to the original debt consolidation scenario, under the Debts & Obligations to make any edits  and recalculate the debt scenario again. 

      11. At the bottom-right, enter the debt consolidate scenario file name. Click  to save the scenario to the loan record in Command Center. The Refinance presentation will be saved in the Selling tab of Command Center's Loan Workbench. Multiple presentations can be created and removed from the loan record in Command Center. 

Note: Presentations do not appear in the Encompass loan record. 

The Debt Consolidation Tool is a very helpful and informative presentation to send over to your borrowers. It can help them view the opportunities and assess their future financials needs. 

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