Learn how to create a funding position with BrokerEngine's updated template design. I also show you how to save time by importing information from a client Fact Find.
Contents
Prerequisites
Know how to navigate the template layout.
Video Walkthrough
Opening a blank funding position template
Open a Deal card in full view mode. Go to the left-hand menu, expand the Strategy folder, and click Funding Position (new).
If you are working with a new Deal card, BrokerEngine displays a blank funding position template called Primary Loan Structure.
To create a new funding position for an existing card that already has one or more scenarios, go to the top of the page and click the plus (+) icon. A blank template displays.
Filling in fields
The workflow inside each folder is very intuitive, so filling in the fields is pretty straightforward. Below, I highlight the key features.
Adding security information
Expand the folder and click the security button. If you select Add New Security a blank form displays. Manually fill in the required fields.
If you select Import from Fact Find, a popup displays. Choose a security option on the list and click Add.
Review the information in the fields and update as required.
Adding more details
Click the More Details link to unhide a form in the Security folder. Add contract, property, and ownership information. Click the Calculate icons to auto-fill in the Stamp Duty, Transfer Fee, and Mortgage Registration Fee fields with system-generated values (indicated by the green check mark). You can also manually enter figures (no green check mark).
Adding solicitor fees and incidentals
Manually enter one value to cover these costs, or click the Details link to display a detailed form in a popup. After you fill in the form and click Save, BrokerEngine greys out the Solicitor Fees/Incidentals field. To update the number in this field, you have to open the form again.
Adding mortgage information
There are also two pathways for adding existing mortgage information. You can manually enter the data or import information from a Fact Find.
If you choose Fact Find, select an option in the popup and click Save. Be sure to review the information and add values to any blank required fields.
To edit the fields, click the pencil icon. To clear all the fields, click the trash icon.
Entering the proposed loan structure
Expand the next folder, click the Add Proposed Loan button, and fill in the fields. Click the LMI icon to display a calculator in a new window. Fill in the fields and select a lender option. BrokerEngine loads that value into the field. You need to copy that value into the loan's LMI (Split) field.
Manually enter a value for Bank Fees or click the Details link and fill in the form to provide a detailed breakdown. Optionally, click the plus (+) icon to add a loan split.
Adding borrower contributions
Expand this folder and fill in the fields.
Consolidating personal debt
Expand the field and fill in the fields to roll in personal debt settlement. You can start with a blank field or import information the the Fact Find. BrokerEngine adds this total to the Existing Loans to Refinance line on the side column.
