Brooks.APR Web Service
This product is primarily used to calculate APRs for rate sheets. By using the highly regarded Brooks.APR to perform the calculation, you can be assured of its accuracy. Not offering your rates on the web could be costing you business, as millions of prospective borrowers seek the best deal by comparing rates on the Web from a vast field of lenders.
Regulation Z requires that if you disclose a retail interest rate to the public you must also disclose the APR. Rates and points can change several times a day and these changes need to be made available not only to your retail operation but also to web-based consumers. The need to perform this task accurately and cost-effectively can cause a strain to a mortgage operation.
Brooks provides a solution to this need with the APR web service. As the web-savvy consumer shops, the ability to post your rates becomes critical. The Brooks.APR Web Service allows you to disseminate new rates quickly and accurately with minimal manual inputs.
Brooks.APR Features and Benefits
- Loan data can come from a spread sheet.
- Once the system is set up, it is simple to perform updates.
- The results are returned in an XML format, allowing you flexibility to distribute them in any number of ways.
- Remain competitive by allowing your future borrowers to access up-to-date pricing information through the web.
- Cost-effective tool to allow you to advertise your rates while remaining compliant with Regulation Z.