Product Category Configuration
This screen appears when you select an existing pricing tier or use Add New Level (F6) on the Risk-Based Pricing screen.
This screen is used to set up an individual pricing group by risk level (or paper grade). If creating a new group, enter the Level for this group (1-9, A-Z, or leave the field blank to create just one level). To set up a group for members that do not have a paper grade or level recorded, leave this field blank.
If your credit union uses 247 Lender, be sure to leave the Level field blank.
Next, use the Tier fields at the bottom to indicate a range of credit scores and a corresponding variant to calculate the rate (either + or -, to be calculated off the Product code base rate shown at the top of the screen). To see the actual rates that will be used, press F10-Recalculate or click the Recalculate button at the top of the Rate column.
Up to 8 tiers can be used; fill in scores for as many tiers as desired. The first tier always starts with From “000” automatically and the last tier you use must show “9999” as the To score. For example, if you only wish to set up 4 tiers, on tier 4, the To column must show 9999.
If your credit union uses 247 Lender, remember to enter actual credit scores, not the numbering scheme used by the SAVANT scoring system.
When done, use Enter to save and return to the previous screen.
SEE ALSO: Risk-Based Loan Pricing Overview