SharperLending's integration with FICO®'s Score Mortgage Simulator tool is now available in XOLX. Utilizing the FICO Score Mortgage Simulator tool creates a roadmap for clients to offer a wider array of loan options to their applicant(s). Through this feature, Providers, clients, and applicants alike have an opportunity for a better experience during the mortgage application and decisioning process. XOLX reduces the navigation time to run scoring simulations by conveniently offering access to FICO's tool directly within an order's file. 


This guide explains how to enable the FICO Score Mortgage Simulator option and how to use the simulation tool. 


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Enable FICO Score Mortgage Simulator

Enabling FICO's products must be done on a per client basis. To setup the options for clients, access the Setup option on the navigation menu and then choosing Clients. Search for the appropriate client to enable the product from the search list. From the Client Details tab, expand Client Interface Settings. Look for the Enable FICO Products section. Select the box adjacent to Mortgage Score Simulator to enable this option for the respective client and Save. 

Providers can set a price for this service via the Individual and Individual Tax fields. NOTE: when Joint simulations are ordered, the value entered with be doubled.

Generating the FICO Score Simulator from XOLX

The FICO Mortgage Score Simulator can be generated directly from a file in XOLX. Access an order from a client who has the simulator feature enabled. From the navigation menu, select the FICO Score Simulate option under the Actions section. Borrowers eligible for simulation will be displayed on the FICO Score Simulate page. Select Order FICO Score Simulate to launch to tool. 

Users will be automatically directed to the FICO Score Mortgage Simulator page, where various simulations can be generated on existing trades.  


Generating the FICO Score Simulator from XpertOnline

The FICO Mortgage Score Simulator can be generated from the client-side, via XpertOnline. NOTE: the simulator tool will only be available to those clients that have the feature enabled. When viewing the file from XpertOnline, clients can select the FICO Score Simulator link. 


Generating the FICO Score Simulator from the PDF

The FICO Mortgage Score Simulator can be ordered directly from the PDF version of the credit report regardless of what LOS users are working from. Select the FICO Simulator button, which will prompt the user to confirm opening the webpage to XpertOnline. Login to XpertOnline with the appropriate credentials. Users will be directed to select the applicant to run the score simulator. Once selected, click Order FICO Score Simulator. 

Users will automatically be directed to FICO's Score Mortgage Simulator dashboard.


FICO Score Mortgage Simulator Tool

When users place the order for the FICO Score Simulator, they will be automatically directed to FICO's page. From the main dashboard, current scores will be displayed with various trades listed. Below is an example of how the dashboard is organized. 

Users can submit pay downs on various trades, which will instantaneously simulate what the bureaus' scores could potentially reflect for the applicant. For inquiries regarding FICO's Score Mortgage Simulator, please contact ML_FICOScoreMortgageSimulator@fico.com. 


FICO Score Simulator Management Report

The FICO Score Simulator Management Report tracks any orders that have been placed by clients. To generate this report, access Management Reports from the navigation menu, then select the Additional Reports tab. From the dropdown, choose FICO Simulator Activity.