Virtual Program Wizard

The Virtual Program Wizard enables you to create multiple virtual programs in one action. You can create up to two hundred (200) current production virtual programs to be active at one time. The number of remaining active Production virtual programs is displayed when the Virtual Program Wizard is selected from the CPM page.

ClosedTo Create a Virtual Program

  1. Log into ICE PPE as a Client Admin.
  2. Select the CPM tab.
  3. Select the Virtual Program Wizard.
  1. From the Custom Investor dropdown list, select the custom investor under which the virtual program will be created.

The investor must be set up as “Available” to CPM by IMT.

  1. Select an Effective Date.
  1. Complete the following fields:
  • Target Investor - Referenced investor for the virtual program.
  • Eligibility rules (e.g., guidelines, conditions, ratios, etc.) are updated for the target investor by IMT. Any rules associated with the virtual program with the same assigned target investor will also be updated.
  • Loan level price adjustments (LLPAs) are updated, in Matrices, for the target investor by IMT.
  • Product Type - Agency, Non-Agency, FHA, VA, USDA.
  • Loan Limit - Defined loan limits (e.g., Conforming or High Balance).
  • Loan Term - Loan term of the loan.
  • Target Program - Existing and defined programs for the selected target investor.
  • Rates - Existing and defined rates for the selected custom investor or use target program rates (existing and defined rates for the target investor).
  • Virtual Name - Client defined name for the virtual program.

We recommend using unique and meaningful names.

  • Program Code - Client defined program or product code for the virtual program.

We recommend using unique and meaningful program or product codes.

  1. Once you complete the fields above, select one of the following Actions:
  • Append - Adds defined fields to the Virtual Program Wizard grid and clears defining fields for the next virtual program to be created.
  • An error message “Please select a Target Program” will be displayed if no Target Program is selected.
  • An error message “Please select Rates” is displayed if no Rates are selected.
  • X - Deletes the virtual program.
  • Save - Saves the virtual program defined in the wizard.
  • Cancel - Closes the Virtual Program Wizard and all your work will be lost.
  1. Once the virtual program is created, you can overlay rules on the program using the Rule Manager.

Refer to the Using the Rule Manager guide for additional information on the Rule Manager.

ClosedTo Test a Virtual Program

After creating a virtual program, we recommend you test it and verify that it works as expected. You must enable the virtual program and save it for any Test or Production loans to qualify under the new virtual program.

  1. Log into ICE PPE as a Client Admin.
  2. Create and qualify a loan intended to fire the new virtual program in ICE PPE.
  3. On the Qualify tab, select Test to validate your rules fire as expected.
  • ICE PPE will qualify the loan using any existing Test virtual programs and overlay rules created in the Rule Manager.
  • You can verify the virtual program and overlay rules are working as expected by comparing the qualification results before executing the test to the results from the test qualification with the test virtual program and overlay rules applied.

We recommend you create and qualify loans to test for both positive and negative results to ensure the virtual program is firing intended eligibility and LLPAs, including the overlay rules in the Rule Manager.

  1. After testing and validating the virtual program and overlay rules from the Rule Manager, it is ready for promotion.

For information on how to promote the virtual program, refer to the Promotion Management topic.

ClosedTrace

Trace provides authorized users with the ability to view step-by-step qualification results, by program, to diagnose any unexpected results. The user must be assigned the Trace manager right to use this feature.

For information on how to configure manager rights, refer to the Manager Rights topic.

Trace is located within every product, eligible and ineligible, on the Qualify tab. To use Trace, select the trace link, which is displayed next to each product name.

If available, lock period aliases are displayed in a table with the actual lock period in one column and the displayed lock period in the other column in the Trace results.

The lock period alias data is only available to users with the View Profit Margin manager right enabled.