Step One: From the Dashboard click on My Rates.
Step Two: In the top right corner of the My Rates box there is an option to choose from Personal or Company. If you are managing a company or individual branch, click Company in order to change the rates for everyone in your company/branch. If you want to change rates for your individual use, choose Personal.
***NOTE*** These rates are your par pricing, straight off the rate sheet with no adjustments such as FICO scores, LTV, etc.
Step Three: Where the adjustments come in, it will not be a pricing adjustment but a rates adjustment. From the Dashboard click on Loans & Leads and select the loan you would like to adjust.
Step Four: Before we start editing the scenario you will need to make sure the interest rates are unlocked, in order to do this go to the Control Center on the right side of the Loan Dashboard.
Step Five: From the Control Center toggle Lock Interest Rate on to off.
Step Six: Scroll down to the Loan Officer Approved Scenario and click on Edit Loan.
Step Seven: When you sync a loan over from Encompass or to another platform, it will come with a rate. Compare the rates with the Par Pricing that exists in the dashboard in PAM and using the Rate Adjustment box you will put in the difference in rates.
Step Eight: If you want your customer to have a rate regardless of what the market does, you will need to unlock the interest rate. In order to do this, using the Control Center on the right side of the loan toggle Lock Interest Rate On.
Step Nine: After toggling Lock Interest Rate On, go back to the Loan Officer's Approved Scenario and click Edit Loan.
Step Ten: When the Loan Configuration box comes up you will now be able to edit the Interest Rate.
***NOTE*** Most of the time you won't need to change the interest rate. Most of the time it is best for your rates to follow the trends.