Horizon2 Module 6: Quote Comparison Tool

This module will take you through the sets to complete a Quote in an application and a standalone version

By the end of this module you will be able to:

Complete the quote comparison screen in an application

Complete the standalone quote comparison tool

Understand the differences in both quotes

Topic Summary

6.1 Completed the Quote Comparison Tool within an application

6.2 Standalone Quote Comparison Tool

In the tab’s menu within an application there will be a new tab called

Quote Comparison. This tab sits between the Security and the Products

tabs.

The following information that has previously been entered into the

application will carry across:

You will need to complete:

N.B. Asset Age and Adverse Credit File are not mandatory and do not need to be completed.

If you are including any Insurance and Warranty items, you can call these in next by click . This section works the same way as the Warranty and Insurance section on the Products tab.

Once this has been completed you will able to start selecting lender. The Lender options that will appear in the list will be filtered to ensure the lender meets the following requirements:

Start by selecting your first Lender from the drop down box, select the Product Name, then enter the Customer Rate you are aiming for. The fees will populate one the Product Name is selected. One you enter a customer rate the Financed Amount, Monthly Repayment Amount and LTV will calculate. The LTV will have an explanation on how it was calculated and may not match they way the lender calculates it.

You can them complete the above steps for an additional 2 Lenders by clicking.Once

you have selected up to 3 lenders click , which is located at the top of the quote screen. Once saved you will see a History section, like the preliminary assessment history.

From here you can do the following:

If you applicant is sitting in front of you, you may wish to 0 the quote and discus the options. Once you applicant has made the decision you can click . This will allow you to manually select the quote option the applicant wishes to proceed with.

Alternately you can email a version of the quote to your applicant by clicking . You applicant will receive an email containing a link to view and accept the quote. The Quote email will contain the following disclaimer:

The quotes provided are indicative only. All Applications are subject to lender assessment. The provision of the quote does not constitute a financial approval.

Once the applicant clicks on the link they will be taken to a screen where they can compare the quotes and select the quote they wish to proceed with. Once the preferred option is selected the applicant will need to click next which will

load the signing screen.

The signing screen will display a confirmation of the quote they have selected along with the same disclaimer and a quote acceptance. The quote acceptance will say:

After consultation with [Trading Name] and taking into account m personal situation, my objective and my requirements I have selected Quote [A, B or C] as the most suitable. By signing below I authorise [Trading Name] to process with my loan application to seek a loan approval.

This signing of this authorisation to proceed does not waive my right to withdraw my application at any point prior to final settlement of the arranged loan.

Once the applicant has signed the Quote it will be sent back to Horizon2. You will be notified by the below notification. You will also receive a notification in the bell and will receive an email with the returned version.

When you go back into the application the Quote that have been accepted will be ticked on the Quote Comparison screen.

The signed quote will be downloadable in the Supporting Document section of the application.

On the Product screen the following details will carry over from the selected quote:

• Loan Sub Type

• Documentation Level

• Lender

• Product Name

• Loan Duration

• Customer Rate

The is a stand alone Quote Comparison that works in a similar way as the application version. The main differences are:

There are 2 ways you can create a New Quote:

When you click on New Quote the Quote Comparison Tool will open. It will look the same as the application version with a few new buttons at the top.

The will need to be completed to calculate the LTV.

Once you have completed your lender selections you can either or . will bring up a version of the quote you can print. will create a lead and allow you to email a PDF version of the quote to your applicant.