For many investors and correspondent lenders, the commitment
negotiation process entails the delivery of an xml spreadsheet from
the seller, back and forth phone calls, evaluation of the
negotiated commitment by the investor, more phone calls, and an xml
spreadsheet response sent back via email.
The Commitment Desk capabilities significantly improve how
commitments are created and managed.
Step 1: Upload bid tape
The process begins with the upload of the bid tape, which can
be done by seller or investor. Once the upload is complete, a
validation screen provides loan level detail highlighting where
data may be missing and enables the seller to correct.
Step 2: Set-up the commitment.
The seller can review their loans and run eligibility and
Best Efforts pricing. They can then submit the trade to the
investor, who can apply pricing to the submitted trade, reject the
trade, counter offer or activate the trade.
Step 3: Manage the commitment.
Once the seller accepts, the commitment is opened and can be
managed by the investor and seller.