How do I use Rate Watch?


1.

Press the Rate Watch icon from the Main Menu group.

2.

Enter the search rate in the field to the left of the Search button.

  • This will search for all records with a higher interest rate than the one you entered.

3.

Press the Search button.

4.

Select the contacts to be notified.

  • You can select or unselect a record by clicking into that field and pressing the Space Bar.

  • You can select all or unselect all records by pressing the corresponding button at the upper left of the search screen.

5.

Enter the Action Recommendation

  • Enter the dollar amount cutoff. The cutoff determines which merge field is printed in the correspondence.

  • Enter the text of the LESS THAN message in the "Use this statement:" field. This is the message that is printed if the amount of difference the new interest rate makes for the contact is smaller than the cutoff. This message may read, "Let's wait for another rate change before refinancing."

  • Enter the text of the GREATER THAN message in the "Otherwise, use this statement:" field. This is the message that is printed if the amount of difference the new interest rate makes for the contact is greater than the cutoff. This message may read, "Call me at your convenience to save some money."

6.

Enter the Projected Information.

  • The Interest Rate, Term of Loan, Estimated Closing Costs, and Closing Date will be used to calculate the effect of the rate change on the contact's loan amount.

7.

Select a document for the Rate Watch merge.

8.

Press the Start button to calculate the amortization and merge fields into the selected document.

  • NOTE: This can be a time-consuming task because of all the calculations Rate Watch is performing for you. Be patient and think of the service you are providing for your contacts.


Mark-It How-To Document