Product
How Pricing Works
A product-level view of how FlexRate turns a borrower scenario into ranked, eligibility-checked offers.
What FlexRate does, in plain terms
FlexRate ingests a lender's daily rate sheets and eligibility matrices, then evaluates any borrower scenario against every applicable program and returns:
- Eligible offers, ranked best-price-first, each with a final price, note rate, and the list of adjustments (LLPAs) that were applied.
- Rejected programs, each with structured reasons (e.g. credit score below the program minimum) so the consuming UI can explain why a program didn't qualify.
The pricing flow
- Daily freshness — rate sheets and matrices are re-ingested every morning. The engine always prices against the most recently seeded sheet.
- Eligibility first — a scenario is checked against each program's matrix (FICO, LTV, loan amount, occupancy, purpose, property type). Failing a hard rule rejects the program with a keyed reason.
- Price build-up — eligible programs start from a base price by note rate, then sum LLPA adjustments and apply pricing caps/floors.
- Ranking — surviving offers are sorted best-price-first.
Why offers move
A price can change between two otherwise-similar scenarios because of LLPA adjustments (credit, LTV, occupancy, loan amount, prepayment penalty, and more). For the exact adjuster log behind any offer, engineers can use the program matrix endpoint.
Deeper references
- Engine internals and the daily pipeline → Engineering → Architecture.
- Known limitations and planned fixes → Engineering → Tech Debt.