Professional Services Refi Analyzer Product

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1 Refi Analyzer Product Refi Analyzer is Symitar s competitive loan cross-sell product. Integrated with Episys, Enhanced Member Application (EMA), and Enhanced Loan Application (ELA), Refi Analyzer scans credit reports to identify loans a member has open with other lenders. Refi Analyzer automatically determines whether an individual and any trade lines meet credit union-defined criteria, and determines whether the credit union s rates are lower than the estimated rates on qualifying loans. The credit union s risk-based pricing criteria and loan rate tables are used to determine a refinance rate, but credit union employees will most likely need other information before a final offer is made. For example, staff may need to collect a member s current income to calculate a debt ratio or, for secured loans, the collateral value to calculate a loan-to-value ratio. Refi Analyzer can be launched any time a credit report is pulled, including during the new member or new loan process, which makes it easy for staff to present potential refinance offers at the time a member is in the branch or on the phone. A Scenario Calculator allows employees to calculate, display, and compare up to 10 payment scenarios simultaneously, including shortening or extending the term, changing the payment frequency, adding loan protection insurance options, or lowering the rate with credit union-defined loan discounts. The member can then decide which scenario they prefer, and the staff member can print the refinance offer information. Credit unions can also run Refi Analyzer in batch mode for credit reports that are transferred into Episys or that were not analyzed in real-time. Unlike other offers a member may receive that lower the payment amount but extend the term a Refi Analyzer offer is not created for a term loan unless a member will save on both the monthly payment and the total interest due over the remaining life of the loan. The refinance offer information and the associated credit report fields are stored in an Account Tracking record with a status of New Offer. The status changes when a member Declines, indicates Ask Later, or Accepts an offer. If a member indicates they want to pursue a refinance offer, the basic loan information is transferred to ELA and the Tracking record is updated with the Loan App ID. If a refinance offer is booked, the Tracking record status is updated to Loan Created and the Loan ID is entered in the Tracking record. The Tracking record fields provide the details needed for reporting the number, amount, status, and results of refinance offers. The Account Tracking records can also be used to create an extract of refinance offers. Features Scans and analyzes credit reports in both real-time and batch mode Can be launched from Episys, Enhanced Member Application, or Enhanced Loan Application Automatically identifies loans members have open with other lenders that meet credit union-defined criteria Automatically estimates the interest rate a member is paying on a term loan Only creates a refinance offer if it lower a member s interest rate and payment for term loans, or lowers the payment for revolving lines of credit Offers an easy-to-use Scenario Calculator so that multiple loan scenarios, including insurance options and loan discounts, can be calculated and displayed Includes a SymForm PDF or SymForm so that offers can be printed 2012, Jack Henry & Associates, Inc. July 2012 Page 1 of 6

Refi Analyzer automatically determines whether an individual and any trade lines meet credit union-defined criteria, and determines whether the credit union s rates are lower than the estimated rates

2 When an offer is accepted, transfers basic loan information into ELA Tracks offers from the time they are created until a loan is funded Tracks and reports refinance offer details and status Creates an account-level warning code so that staff are alerted when a refinance offer has been created Displays refinance offers as optional services in the Account Cross Sell module. Benefits Offers members value and increases member loyalty by only creating offers that save interest and/or lowers payments over the remaining term of the loan Generates more loans and increases interest income Increases staff efficiency by automatically identifying individuals and loans that meet qualifying criteria and then calculating a lower rate, lower payment, and total interest saved Helps transition staff to a sales culture by offering them access to a powerful crossselling tool and alerting them when a refinance offer exists Offers the loan staff tremendous flexibility with a Scenarios Calculator so that various terms, insurance options, and loan discounts can be discussed up front Increases services per member by funding more loans and by offering loan discounts for other products and services during the refinance Overview Users can launch the Refi Analyzer specfile from Account Manager: 2012, Jack Henry & Associates, Inc. July 2012 Page 2 of 6

3 The Refi Analyzer screen displays information about the member and any refinance offers: For term loans, Refi Analyzer estimates the credit report rate and calculates the savings: 2012, Jack Henry & Associates, Inc. July 2012 Page 3 of 6

Analyzer estimates the credit report rate and calculates

4 Clicking on the Scenarios Calculator button allows the user to project and display up to 10 loans scenarios: 2012, Jack Henry & Associates, Inc. July 2012 Page 4 of 6

5 If any information needed to calculate an offer is missing, a warning icon alerts the user. In the following example, the warning icon displays because the APR is needed. The loan type is a HELOC and Refi Analyzer does not have a term to estimate an interest rate so the member needs to provide the interest rate for Refi Analyzer to compare to the credit union s rates: When the user clicks the warning icon to expand the loan information, an entry field box and a calculator icon display: Once the user enters the missing information, an offer is calculated: 2012, Jack Henry & Associates, Inc. July 2012 Page 5 of 6

The loan type is a HELOC and Refi Analyzer does not have a term to estimate an interest rate so the member needs to provide the interest rate for Refi

6 Refi Analyzer can be launched from EMA during the new member process or from ELA any time another loan application is being processed: When a refinance offer exists, a warning code with the offer expiration date displays: Refi Analyzer notes can be added at the account level. Any notes pertaining to Refi Analyzer always display: For a Refi Analyzer demo, please contact your Sales or Account Executive. 2012, Jack Henry & Associates, Inc. July 2012 Page 6 of 6

Analyzer notes can be added at the account level.

Refi Analyzer. Refi Analyzer. Frequently Asked Questions

Refi Analyzer. Refi Analyzer. Frequently Asked Questions ARCU Episys Extract Procedures Professional Services Refi Analyzer Refi Analyzer Frequently Asked Questions September 2012 Copyright 1999-2012 Jack Henry & Associates, Inc. All rights reserved. Information