Reverse mortgage LOS total cost worksheet: compare quotes
Compare software quotes with a reusable cost register, fictional calculations, and explicit owners for unresolved scope and charges.
In this article
To compare reverse mortgage loan origination system (LOS) quotes, make their costs and scope explicit. Record each charge's unit, quantity, period and exclusions before adding anything. Keep unresolved costs visible instead of treating an empty cell as zero.
This reverse mortgage LOS total cost worksheet provides a reusable register and a fictional calculation for finance and operations teams. It complements the reverse mortgage LOS buyer guide: the guide tests workflow fit; this worksheet tests whether the quoted scope and cost assumptions match.
Build your reverse mortgage LOS total cost worksheet
Start with one agreed comparison period and workload. Name the roles needing access, the expected billable events and the services under consideration. Then ask each vendor to price that same scope, with a dated quote and an explanation of every billing trigger.
Copy the following blank fields into a spreadsheet. Use one row per charge, even when several charges arrive on one invoice. Keep subscription costs, outside-provider charges and your team's own effort in separate groups.
| Field | Blank entry to complete |
|---|---|
| Charge and source | [Service] / [quote date, version and line] |
| Unit and trigger | [Per user, month or event] / [what starts billing] |
| Quantity and period | [Assumed units] / [comparison months] |
| Rate and minimum | [Quoted rate] / [floor, tier or commitment] |
| Scope and exclusions | [Included work] / [not included or unresolved] |
| Evidence and owner | [Confirmed, assumed or unanswered] / [next owner] |
For background, the interagency third-party risk management guide for community banks discusses direct contractual costs, indirect staffing and technology costs, and transition planning. This worksheet is an editorial procurement aid, not that guide's checklist or a determination of obligations for a particular lender.
Normalize users, loans and billing events
A user-based quote and a transaction-based quote need different quantity assumptions. For the user quote, ask whether billing counts named accounts, active accounts or concurrent access. For the transaction quote, ask exactly which event incurs a charge.
- Does a withdrawn file generate a charge?
- Can a reopened file create another billable event?
- Are temporary users or read-only roles priced separately?
- Does a minimum apply before or after usage charges?
These are vendor questions, not descriptions of ReversePilot billing. A reverse mortgage operation may have several roles touching one file, so file count does not establish required seat count. Likewise, funded-loan volume does not establish billable application volume.
Write the denominator beside every comparison. “Cost per funded loan” is only a planning ratio if the invoice actually charges per application. Use the origination workflow guide to identify where a proposed billing event sits, then obtain the vendor's written definition.
Work a fictional first-year comparison
Assume 10 named users for 12 months and 120 billable file events. The figures below are invented solely to demonstrate arithmetic. They are not ReversePilot prices, competitor quotes, market benchmarks or an approved budget.
| Cost line | Fictional quote A | Fictional quote B |
|---|---|---|
| Subscription | 10 × $80 × 12 = $9,600 | $600 × 12 = $7,200 |
| File-event charges | $0, explicitly included | 120 × $25 = $3,000 |
| One-time setup | $2,400 | $1,000 |
| Known first-year subtotal | $12,000 | $11,200 |
| Recurring annual subtotal | $9,600 | $10,200 |
| Historical attachment import | Included in fictional scope | Unanswered; excluded from subtotal |
Quote B's known first-year subtotal is $800 lower, but its recurring subtotal is $600 higher at the assumed workload. Neither subtotal includes taxes, outside-provider costs or internal effort. The unanswered import cost prevents a complete first-year comparison.
- At 60 file events, B's recurring subtotal is $8,700.
- At 180 file events, B's recurring subtotal is $11,700.
- At 96 events, the recurring subtotals match: $7,200 + (96 × $25) = $9,600.
Those calculations hold only under the stated fictional terms: unchanged users and rates, no minimum, and no tier adjustment. The crossover does not prove either system is better. Keep workflow acceptance and commercial arithmetic as separate decision inputs.
Keep exclusions out of the confirmed total
Assign every unanswered line an evidence owner and next action. In this example, procurement asks B to price historical attachment import; operations defines the sample records and attachments. Use the data migration article to frame the scope being priced.
Record the unresolved example as: “Historical attachment import; price unanswered; excluded from $11,200; procurement owns quote clarification; operations supplies scope.” This preserves the useful subtotal without suggesting that import is free. A planning allowance belongs in a separate scenario column, with its basis labeled.
- Ask which onboarding tasks and training sessions the quoted setup covers.
- Ask whether a proposed connection has separate setup, usage or provider charges.
- Ask what support coverage is included and what costs extra.
- Ask about renewal pricing, retrieval assistance and transition charges.
Track internal hours separately from vendor cash payments. Existing salaried time is a capacity allocation; overtime or temporary staffing may create incremental spend. Do not label either category as savings unless a validated comparison supports it.
Key takeaways
- Compare the same scope, period and billable units.
- Separate first-year setup from recurring charges and internal effort.
- Label missing prices as unresolved, with an owner and next action.
- Use sensitivity calculations to expose assumptions, not to predict savings.
Bring your completed worksheet and unresolved scope questions when you request a ReversePilot demo.