If your client has moved their mortgage to a lender that Ownwell does not currently recognize, you can still update the mortgage details manually.
By selecting the correct Lender Type, Ownwell can continue to estimate opportunities and prepayment penalties, even when the lender is not yet on our supported lender list.
When Would I Use This?
Common examples include:
A client transfers their mortgage to a smaller lender
A client moves to a credit union not currently supported by Ownwell
A lender is missing from Ownwell's lender database
A lender has recently launched and is not yet available in Lender Spotlight
Step 1: Open the Client File
-> Navigate to the client whose mortgage details need updating.
-> Scroll down to the Mortgage section and select the Contract Terms tab.
Step 2: Edit the Mortgage Details
-> Click Edit within the mortgage section.
Step 3: Update the Lender
-> Replace the existing lender with the client's current lender.
For example:
Vancity
UNI Financial
Any other lender not currently supported by Ownwell
If Ownwell does not recognize the lender, the Lender Type field will be blank.
Step 4: Select the Correct Lender Type
-> Choose the lender category that best matches the lender.
The options are:
Bank
Credit Union
Monoline
Alternate
Private Lender
For example, Vancity would be classified as a Credit Union.
Step 5: Save the Changes
Click Save to update the mortgage details.
Once saved, Ownwell will use the lender and lender type information when calculating opportunities and estimating prepayment penalties.
How Ownwell Handles Unsupported Lenders
When a lender is not directly supported, Ownwell uses the selected Lender Type to estimate calculations.
For example, if a lender is classified as a Credit Union, Ownwell will use historical credit union data and rate assumptions when estimating potential penalties and savings opportunities.
While these estimates may not be as precise as calculations for fully supported lenders, they allow Ownwell to continue generating homeowner opportunities and recommendations.
Frequently Asked Questions
What if my lender is not listed in Ownwell?
You can manually enter the lender name and select the appropriate lender type.
What lender type should I choose?
Select the category that best matches the lender, such as Bank, Credit Union, Monoline, or Private Lender.
Will Ownwell still calculate opportunities?
Yes. Ownwell can still estimate opportunities and prepayment penalties using the selected lender type.
Are the calculations as accurate as supported lenders?
Supported lenders generally provide more precise calculations because Ownwell understands their specific penalty methodology. Unsupported lenders use lender-type estimates instead.
Can unsupported lenders be added to Ownwell?
Yes. Our team regularly reviews new lenders and may add them to the supported lender list in future updates.
Do I need to create a new client record?
No. Simply update the mortgage details within the existing client record and save your changes.