Troubleshooting
Troubleshooting: rates look wrong or outdated
What to check when the interest rate a borrower sees doesn't match today's market or what you expected.
Updated · 6 min read
Key takeaways
- Most of the time the base rates haven't been updated. Check Last Updated under My Rates or Master Rates.
- If only one loan is off, check whether Lock Interest Rate is on for that loan.
- If only one program is off, check that program's Rate Adjustment (%).
- Borrowers only see a rate when Show Interest Rate is turned on.
Problem: The interest rate a borrower sees in their app, or on a loan, doesn't match today's market or what you expected.
Quick answer
Most of the time, the base rates haven't been updated. Check the Last Updated date on your rates and save new ones under My Rates (your own) or Master Rates (company-wide). If only one loan is off, check whether Lock Interest Rate is on for that loan. If only one program is off, check that program's Rate Adjustment (%).
How rates work
A loan's interest rate is the base rate for its loan type (Conventional, FHA, Jumbo, USDA, or VA) plus the program's Rate Adjustment (%). The rate is recalculated each time the loan loads, so when you update your rates, every active loan updates too. The one exception is a loan with Lock Interest Rate turned on, which keeps the rate it already had.
Base rates come from two places:
- Master Rates: the company-wide rates, set by an admin.
- My Rates: each loan officer's rates. A loan officer can keep the company rates or set personal ones for their own loans.
Quick-check table
| What you see | Likely cause | Fix |
|---|---|---|
| Rates match an old market, or Last Updated shows an old date | Base rates haven't been updated | Update your rates (Fix 1) |
| One loan officer's loans show different rates from everyone else's | That loan officer has personal rates | Reset to company rates (Fix 2) |
| Rates for one program are off by the same amount | The program's Rate Adjustment (%) | Check the program (Fix 3) |
| One loan didn't change after you updated rates | Lock Interest Rate is on for that loan | Unlock the rate (Fix 4) |
| The borrower can't change the rate in their app | Lock Interest Rate is on | Unlock the rate if they should be able to change it (Fix 4) |
| The borrower doesn't see a rate at all | Show Interest Rate is off | Turn it on (Fix 5) |
| A rate you changed changes back on its own | An integration or automation is setting rates | Check your connected tools (Fix 6) |
| The borrower became Conditionally Qualified after changing the rate | Their scenario uses a rate below the program rate | Review their scenario (Fix 7) |
Fix 1: Update your rates
Your own rates (any loan officer)
- On the Dashboard, open the My Rates tab.
- Check Last Updated. If the date is old, your rates are out of date.
- Make sure Personal is selected, enter the new rates, and click Save.
1: My Rates tab. 2: Last Updated. 3: Personal and Company toggle. 4: Reset to Company. 5: Save.
Company rates (admins)
- Click the gear icon and choose My Settings.
- Under System Config, choose Rates. The Master Rates page opens.
- Enter the new rate for each loan type and click Save.
1: Rates under System Config. 2: Last Updated. 3: Rate for each loan type. 4: Save.
Fix 2: Go back to company rates
If a loan officer's rates differ from the company's, they're using personal rates.
- On the Dashboard, open My Rates.
- With Personal selected, click Reset to Company.
To see the company rates, switch the toggle to Company. That view has only a Save button.
Fix 3: Check the program's Rate Adjustment
Each program can adjust the base rate by a set amount.
- Click the gear icon, choose My Settings, then Loan Templates, then Edit Default Loan Programs.
- Choose the program from the drop-down at the top.
- Check Rate Adjustment (%). For example, 0.250 adds a quarter point to the base rate.
1: Program drop-down. 2: Rate Adjustment (%).
Fix 4: Check Lock Interest Rate on the loan
A locked loan keeps its rate when you update rates, and the borrower can't edit the rate in their app.
- Open the loan and click + View/Edit Loan Officer Approved Scenario.
- Under Additional Options, check Lock Interest Rate. You can also find it in the loan's Control Center.
- Turn it off if the loan should follow your current rates. Leave it on if you've promised the borrower that rate.
1: Rate Adjustment. 2: Interest Rate. 3: Edit System Rates Here. 4: Lock Interest Rate. 5: Lock Loan Data From External Changes.
Fix 5: Borrowers don't see a rate
Whether borrowers see the interest rate at all is a company setting.
- Click the gear icon, choose My Settings, and under System Defaults choose Compliance and Disclaimers.
- Turn on Show Interest Rate.
1: Compliance and Disclaimers. 2: Show Interest Rate.
Fix 6: Rates change back on their own
If your company sets rates automatically, for example through Zapier or another integration, that tool can overwrite changes you make by hand. Update the rate at its source, or pause the automation.
Fix 7: Borrower became Conditionally Qualified
If a borrower enters a rate below the program rate in their scenario, they become Conditionally Qualified. Open the loan, compare the Borrower Scenario with your approved scenario, and talk the borrower through the right rate. To stop borrowers from changing the rate, turn on Lock Interest Rate (Fix 4).
For more on qualification statuses, see Troubleshooting: Borrower Sees "Not Qualified" or "Contact Loan Officer" Instead of a Letter.
Still stuck?
- Ask the borrower to close and reopen their app so it picks up your latest rates.
- Double-check which loan type and program the loan uses. Each loan type has its own base rate.
- In the Portal, click Need Help? and choose Talk to Us to reach our support team.