Click the Recalculate button to view the impact of the Mortgage Insurance allocation (the total loan amount for the component is raised by the MI premium). Click Submit to save the changes to the Component Details subscreen. Express runs the required calculations and then the multiple component business rules, and returns the user to the Underwriter Worksheet. If the business rules fail, the Warning and Errors pop up window appears showing details of the errors and warnings. Configuration Options No configuration options have been implemented for the MI premium process. Business Rules Additions The following business rules are available for the lender to implement or not. If implemented, the lender also has the option to make them hard or soft stops. Rule ID Condition Hard/Soft Message (English) Message (French) Class Stop DMC 004 If the deal meets all the Optional One or more Une ou plusieurs following conditions: components have an composantes ont un amortization greater amortissement is insured than the supérieur à amortization of the l’amortissement de la deal product is deal/umbrella demande / underwritten as a mortgage. l’hypothèque Mortgage (see “Product englobante Type Configuration” on page 29.) deal product amortization term is less than the highest amortization of a mortgage component the component amortization is greater than 25 years DMC 005 If more than one mortgage Optional More than one Plus d’une composante component has been selected component has been a été sélectionnée to include the MI premium. selected to include pour l’inclusion de la the Mortgage prime d’assurance Note: The JavaScript process Insurance premium. hypothécaire. in Express prevents the user from allocating MI premium to more than one component. This rule is required in case the JavaScript process fails. DMC 006 If the MI premium has not Optional The Mortgage La prime d’assurance been allocated to a Insurance premium hypothécaire n’a été component. has not been attribuée à aucune allocated to a composante. component.
Click the Recalculate button to view the impact of the Mortgage Insurance allocation (the total loan amount for the component is raised by the MI premium). Click Submit to save the changes to the Component Details subscreen. Express runs the required calculations and then the multiple component business rules, and returns the user to the Underwriter Worksheet. If the business rules fail, the Warning and Errors pop up window appears showing details of the errors and warnings. Configuration Options No configuration options have been implemented for the MI premium process. Business Rules Additions The following business rules are available for the lender to implement or not. If implemented, the lender also has the option to make them hard or soft stops. Rule Class ID Condition Hard/Soft Stop Message (English) Message (French) DMC 004 If the deal meets all the following conditions: is insured deal product is underwritten as a Mortgage (see “Product Type Configuration” on page 29.) deal product amortization term is less than the highest amortization of a mortgage component the component amortization is greater than 25 years Optional One or more components have an amortization greater than the amortization of the deal/umbrella mortgage. Une ou plusieurs composantes ont un amortissement supérieur à l’amortissement de la demande / l’hypothèque englobante DMC 005 If more than one mortgage component has been selected to include the MI premium. Note: The JavaScript process in Express prevents the user from allocating MI premium to more than one component. This rule is required in case the JavaScript process fails. Optional More than one component has been selected to include the Mortgage Insurance premium. Plus d’une composante a été sélectionnée pour l’inclusion de la prime d’assurance hypothécaire. DMC 006 If the MI premium has not been allocated to a component. Optional The Mortgage Insurance premium has not been allocated to a component. La prime d’assurance hypothécaire n’a été attribuée à aucune composante.
Express_GR_v4%201_Functional_UAT_Rel_Notes_FR.docx