Many of you have asked for the option to give your clients the ability of choosing which accesses and scores (addons) should make up the product prior to submitting the request to the bureau(s). If you offer your clients the use of Client side v2.0, this feature is now available – we call it the Checkbox Product feature. When the client company and the product are setup correctly, that client will see a series of checkboxes for accesses and scores.  They can then pick and choose which accesses and scores they would like to order andr, and submit a customized request to the bureaus.   This type of product will also help to more closely match the way some LOS packages assign the accesses, the scores, and the report type value to credit requests as determined by MISMO (Mortgage Industry Standards Maintenance Organization – see their web site at www.MISMO.org).


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When the Checkbox Product option is enabled correctly, there will be no product drop down list available – there will only be checkboxes for the products you have enabled.  Please keep in mind that if you do not wish to use this feature, no action is required on your part.

Software Requirements

  • You must be actively using XpertOnline Provider Software
  • Your clients must be actively using the Client Side v2.0 of XpertOnline


What is A La Carte Pricing?

A La Carte Pricing is how checkbox products are billed in XpertOnline—this is a change when compared to the way prices are billed for standard product list-type products. Instead of having one base price to charge your clients—like products in product lists—checkbox products are billed as a total of the base price of the product, plus the price of any selected accesses and scores/addons.  

 

For example: a client of yours chooses to order an Infile product with three bureaus and three scores via checkbox product. The base price of the Infile is $2.00. Each added access is set at $1.00, and each added score/addon is set at $1.00. When the client orders the Infile and checks each checkbox that corresponds to each access and score, the total price that they will be charged would be $8.00 for a three bureau, three score infile. That’s because:

  • Base product price = $2.00
  • EFX = $1.00
  • TU = $1.00
  • XPN = $1.00
  • EFX Beacon = $1.00
  • TU Empirica = $1.00
  • XPN Fair Isaac = $1.00

 

With this in mind, it is important to remember to setup Price and Tax values not only for the base product price, but for each access and score/addon.


Client Company Setup

This feature can be enabled on a client-by-client basis—this is useful when a lender uses an LOS package that only supports checkbox products for assigning accesses/scores, and another lender does not.

 

To setup your clients for this option, go to the Setup | Clients menu option from the main XOP screen, select the client company you want to enable for the Checkbox Product option, and move to the Detail tab.   

 

Scroll down to the bottom of the Detail tab and, in the Client Interface section, check the Enable Client UI v2.0 and the Enable Checkbox Products checkboxes, and Save your changes.

 

 

When the changes are saved, this client company will be enabled for the Checkbox Product option.  If the Enable Client UI v2.0 checkbox is already checked, you only need to check the Enable Checkbox Product checkbox.


Creating/Modifying Products for the Checkbox Product Feature

You can either create a brand-new product or modify an existing product for this feature. If you modify an existing product, keep in mind that if the product list that contains the products is shared by more than one client company, the individual product that is enabled for checkboxes will not be available to other client companies that share the same product list. This is why we recommend that you always make a copy of an existing product prior to enabling it for checkboxes.

 

Creating a New Product for the Checkbox Product Feature

To create a new product for this option, begin by going to the Setup | Product Lists menu option from the main XOP screen and selecting the product list that you want to add a new checkbox product.  

 

 

Then, click the New button in the Actions section and choose either New Checkbox Infile or New Checkbox RMCR, depending on if this product will be an Infile-type of product or an RMCR-type of product.  

  • New Checkbox Infile—this creates a three-bureau Infile product.  All three accesses and scores are set as Optional, the Merge Service of Quick Pick and Choose is set as Selected, and the PDF Lender Report output is set as Selected.
  • New Checkbox RMCR—this creates a three-bureau RMCR product.  All three accesses and scores are set as Optional, the Merge Service of Quick Pick and Choose is set as Selected, and the PDF Lender Report output is set as Optional.  The output is set to Optional to keep RMCR requests from sending a preliminary report back to the client prior to them receiving the completed RMCR.  For this product, you may want to add any RMCR-related Additional services: these are usually RMCR, Verify Balances older than 30 Days, Verify Addresses, etc., Additional Services.

 

Depending on your selection, this automatically creates a product with default access and score, Merge service, and output values.  This may take a few moments.

 

 

When XOP has finished creating a new product, the following default values will be included on this product.

 

  1. Default Accesses—the EFX v5.0 Credit Report access and EFX Beacon score are set as Optional, the TU v4.0 Credit Report access and Empirica Score are set as Optional, and the XPN v7.0 Credit Report access and Fair Isaac score are set as Optional.

    Important Note for Accesses—you will still need to open this product to align the proper access codes to the accesses, assign a base price for this product, and additional pricing for accesses and scores. Keep in mind that with this option, you can charge a base price for the product and additional prices for any combination of accesses and scores that your client(s) chooses.
      
  2. Default Merge Service—the Quick Pick and Choose Merge service will be set as Selected. There will be no Additional services set by default – you must add any other Additional services to this product manually.

  3. Default Output—if you choose to create a new Infile checkbox product, the PDF Lender Report output will be set as Selected by default on this product, whereas if you choose to create a new RMCR checkbox product, the PDF Lender Report output will be set as Optional by default on this product.  This is to keep RMCR products from sending a preliminary report back to the client prior to them receiving the completed RMCR.

 

When XOP has finished creating the default values for the checkbox product, you will see the Product Detail tab. Most of these values will not need to be modified; however, you will need to assign base product Price and Tax values for this product.

 

 

When this is done, Save your changes.  Keep in mind that you will also be setting up pricing for each access and score so the base product price and tax values here will probably be significantly lower than other, product list-based products. You will now need to add a bureau access code and Price/Tax values for each Optional access and Price/Tax values for each Optional score that is aligned to this product.

 

Accesses

Once the new checkbox product has been created and the base product Price/Tax values assigned, click the Product Detail button to open the detail screen for this new product.

 

 

When the detail screen for this new product opens, you will need to go to the Accesses section and, for each access that is set as Optional on this product, align an access code.

 

 

Once this is done, set a Price and a Tax amount for each access that is Optional for this product.  This will allow you to charge your clients the base price of the product, plus any accesses that they choose to order.

 

 

Once you have an access code and a price setup, click the Addons… button, find the score that is set as Optional, and double click on it – you will now want to setup a price for each score that is added to the product. Once you are viewing the Access Addon Detail tab for the score that is set as Optional on this product, input Price and Tax values for this addon.

 

 

You must make sure that, for each access and score that was automatically added to this checkbox product, you align a bureau access code and Price and Tax for each access, and Price and Tax values for each score.

 

Once you have ensured that this is done, click the Save button to the right in the Actions section to save all of your changes that were made to this new checkbox product.  When these changes are saved, your clients can pick and choose the accesses and score that should make up this product prior to submitting their request to the bureau(s).

 

Services

For services, you can change the default Merge service and add any Additional services you wish. Specifically, if you create a new RMCR checkbox product, you will need to add the appropriate RMCR services, such as the following Additional services: RMCR, Verify Balances Older Than 90 Days, Verify Addresses, Verify Employments, Interview.

 

Outputs

For outputs, you can change/add any output values you wish.

 

We recommend strongly against changing the accesses and scores that are set as the defaults for these products.  Changing default access and score (addon) values can render the checkbox product configurations set automatically by XOP as unusable!

 

Warning: Duplicate Identical Checkbox Products in a Single Product List

 

If, perchance, you accidentally attempt to add more than one identical checkbox product to a product list, you will see the following pop-up message before the duplicate checkbox product is created. When you see this message and click OK, the existing checkbox product’s Checkbox Product Type value will be reset to blank. This makes the existing product an available product in the product list—it will no longer be setup as a checkbox product. To avoid this, we recommend that you do not create more than one Checkbox Product Infile and/or Checkbox Product RMCR in a single product list. If you do add more than one identical checkbox product, you will have to start over setting up this product.

 

 

Modifying an Existing Product for the Checkbox Product Feature

To modify an existing product for this option, begin by going to the Setup | Product Lists menu option from the main XOP screen, selecting the product list and product you wish to enable, and, once you view the Product Detail tab, find the Checkbox Product Type drop down list.  

Important Note for Modifying/Enabling Existing Products: we recommend that if you modify an existing product for the checkbox product feature, you make a copy of the product you wish to modify so that the standard, product list-type product is still available to those clients who are not setup for checkbox products.  So, prior to continuing, make a copy of the current Infile and/or the RMCR product before you enable it for checkbox products!

 

 

In the Checkbox Product Type drop down list, choose the Infile or the RMCR selection, depending on if this product is an Infile-type of product or an RMCR-type of product.  As you can see, since the example above shows a product name of Tri-Merge, this product should have a Checkbox Product Type of Infile. We would recommend assigning a Checkbox Product Type of RMCR to an RMCR product.

 

When you designate an existing product with a Checkbox Product Type value, the accesses and addons that are available on this product will then be enabled via checkboxes instead of a product list-type of selection.  

 

As far as modifying/adding Price and Tax values, keep in mind that this product was previously available from a product list. Therefore, you might consider modifying the base Price and Tax values of this product, as you will most likely want to add Price and Tax values to the accesses and scores/addons as well and you will probably not want to overcharge your clients for use of this product.  Overall, it is up to you how you want to handle pricing and billing of checkbox products.

 


NOTE: When enabling an existing product for checkbox products, you might consider reducing the base price of this product since you will be adding Price and Tax values for each access and addon/score as well.


You will then need to verify that the accesses and addons on this product are set as either Both or Optional.  If they are set as Selected, your clients will not be able to de-select the checkboxes!  If you setup this product with accesses and addons/scores set as Both, the checkboxes that appear for your clients will be checked automatically, but they can be unchecked.  If you setup this product with accesses and addons/scores set as Optional (recommended), the checkboxes that appear for your clients will be unchecked, allowing them the most flexibility as far as choosing which accesses and scores should make up the product for their request.

 


NOTE: When enabling an existing product for checkbox products, each access and score should be set as either Optional (recommended) or Both. Accesses and scores/addons should never be set as Selected.


The services and outputs that correspond to this product will then be used by default when submitted to the bureau(s). These can be modified as you like. Remember to Save your changes.

 

When this is set, and your client logs into Client side v2.0, they will choose the accesses and scores that they would like based on those that are set on the product you designated as a checkbox product.


Available to Client Checkbox Disabled on Product Detail Tab

When you make your selection from the Checkbox Product Type drop down list, you will notice that the Available to Client checkbox becomes grayed out. This is so that those clients of yours that may share a product list with another client company but who are not setup for the Checkbox Products option cannot see this product in their standard product list. If this is the case, you may need to make a copy of this product and ensure that there is no Checkbox Product Type set on the copied product.  Both checkbox products and standard product list-type products will now be available in cases where a product list may be shared by two or more client companies.


Completing this Process 

After you have the client company enabled for checkbox products and any new products created or existing products enabled/modified for checkbox product selection, you need to ensure that the proper product list is aligned to the proper client company. This completes the checkbox setup procedures for your clients and the products they will request.


Client Side v2.0 Examples

When a client company is enabled for the checkbox product feature as a means of requesting credit on an Applicant/Co-applicant, they will login to Client side v2.0, view the New Report tab, and see a series of checkboxes in the Select Product section instead of a drop-downown list of products.

 

 

Along the top of this section, there are three radio button checkboxes: Infile, RMCR, and Both.

  • Infile—this is the default.  When checked, the type of product that is sent to the bureaus is an Infile (unverified, prequal, etc.) product.
  • RMCR—when checked, the type of product that is sent to the bureaus is a fully verified RMCR request. You should not expect to receive a report right away as the credit reporting agency needs to perform manual updates as necessary for this request.
  • Both—when checked, the type of product that is sent to the bureaus is a fully verified RMCR request. However, you should expect to receive a preliminary, or unverified, report right away.  The fully-verified report will be printed to you once it is completed by the credit reporting agency.

 

Below the radio button checkboxes will be the access and score checkbox selections. Check the accesses and scores that you would like to receive information from for the Applicant/Co-applicant.

 

Once you have the product and corresponding product type, accesses, and scores selected, click the Submit button.  The request will then be sent up to the bureaus and you will be billed accordingly.