How do I add Ream and No-ream Payments to a proposal template for loan buydown products?

Owned by Tim Marchese
Last updated: Feb 21, 2022 by Eric Suarez
2 min read

Introduction

EverBright improved the capabilities to show reamortized and non-reamortized payments for loan buydown products in EverBright generated proposals. All EverBright locked proposal templates show both payments; this article walks through how to set this up for your custom proposal templates.

Steps

  1. As a user with the ability to edit proposal templates, navigate to the “Proposal Phase” settings.

  2. Click on the proposal template you wish to edit.

  3. Since these metrics are quote-related metrics, you will need to insert them on a template page that allows for quote metrics. Pages from the EverBright template are named: Quote Details, Cash flows, and Assumptions.

  4. Next, use the “Insert” functionality, and navigate to the “Quote” submenu. Locate metrics: “Monthly Payment Post Amortization” → “Monthly Payment Post Post Amortization” and “Monthly Payment Post Post Amortization (if No Amort.)”. Furthermore, you can insert the month for which the buydown payment is required, by inserting the metric: “Next Payment Month Post Amort Period”.

  5. You may now insert the metrics, and save your changes. However, if you are adding this information in the “Payment” and “Cost Breakdown” sections of the “Quote Details” page, then you need to pay particular attention to how you insert these metrics.

Updating Under Quote Details

  1. These metrics will only populate for products with a buydown option, and you will need to insert them in three locations to cover all product variations. These are: Buydown Loan, Promo & Buydown Loan, and PACE Loan Buydown.

  2. Before clicking to “Edit” a template, first select the appropriate product. Please reference the below images to find the appropriate product sections.

  3. Once you have selected the appropriate product(s), feel free to insert the metrics as outlined above and any text you desire to label the payments. As you can also see below, EverBright populated the text: “Monthly Solar Payment (with buydown after month X)” and “Monthly Solar Payment (without buydown after month X)”.