SRP Templates

Use the SRP Templates tool to create templates of Service Release Premium (SRP) adjustments to apply to the loans in a trade. Adjustments can be based on loan amounts as well as geographic location. A different template is typically created for each investor.

To Create an SRP Template

  1. On the menu bar, click Encompass, and then click Settings.

  2. On the left panel, clickSecondary Setup, and then click SRP Templates.

  3. On the SRP Templates window, click the New icon.

  4. On the Create/Edit SRP Table window, type the Table Name and Description that users will see when selecting the template.

  5. In the SRP Details section, enter a minimum and maximum Loan Amount to establish the range for applying the Base SRP and adjustments.

  6. Type the Base SRP value, as a percent of the loan.

  7. Type the Base SRP Adjustment percent for loans whose escrow has been waived. This is typically a negative value.

    To waive a loan's escrow, select the Waived option for the Impounds Waived field on the Lock Request form or select the Waived option for the Impounds field on the Current Loan Info tab of the Secondary Registration tool.

  8. If additional adjustments are required for specific locations:

    • Select a location from the SRP Adjustment Based on Geography list.

    • Click the SRP Adjustment field to the right of the location and type the adjustment percent. This adjustment percent is added to the Base SRP value.

    • Click the SRP Adjustment, if Impounds are Waved field to the right of the location and type the adjustment percent. This adjustment percent is added to the Base SRP value if impounds are waived in the specified state or geographic location.

    • Select and add additional location-specific adjustments as required.

  9. When finished entering SRP values for the range, click the New icon to add the SRP details to the SRP table.

  10. If prompted, click Yes to save your changes to the current SRP pricing.

  11. Repeat steps 5 through 10 to create entries for additional loan-amount ranges.

  12. Click Save to save the template.

Work with SRP Templates

ClosedEdit a Template 

ClosedAdd an Entry

  1. On the SRP Templates window, select a template and click Edit.

  2. To add an entry to the template, complete steps 5 through 9 in the To Create an SRP Template procedure.

ClosedEdit an Entry

  1. In the SRP Table, click the row containing the entry you want to edit.

  2. Adjust the loan amount range and SRP values as required.

  3. Click the Save icon.

  4. Select and edit additional entries as required.

  5. When all edits are complete, click Save to save the template.

ClosedDuplicate an Entry

  1. In the SRP Table, click the row containing the entry you want to duplicate.

  2. Click the Duplicate icon.

    • The information from the selected entry is duplicated, with the exception of the loan amount information.

  3. In the SRP Details section, type the minimum and maximum amounts to establish the loan range.

  4. Click the New icon.

    • The information for loans in this price range appears as a new row in the pricing table.

  5. When you finish creating duplicate entries, click Save to save the template.

ClosedDelete an Entry

  1. To delete an entry from a template, select the entry and then click the Delete icon.

  2. Click Yes in response to the confirmation message.

ClosedDuplicate a Template

  1. On the SRP Templates window, select a template and click the Duplicate icon.

  2. On the Create/Edit SRP Table window, type a Table Name for the duplicate template.

  3. Adjust template entries as required, and then click Save.

ClosedDelete a Template

  1. On the SRP Templates window, select a template and click the Delete icon.

  2. Click OK in response to the confirmation message.