Overview
Broki now automatically calculates estimated mortgage penalty amounts across your entire completed pipeline. Using historical posted-rate data from major banks and lenders (collected back to 2021), Broki estimates penalties, break-even rates, and potential net savings for every client file — helping you quickly identify refinancing opportunities.
This article covers the new Portfolio tab, the penalty calculation logic, and the enhanced mortgage file tracking that powers these estimates.
⚠️ Important: These are estimated penalties, not guaranteed figures. Broki does not always know the exact rate hold discount a client received at closing. Use these numbers as a conversation starter — encourage clients to request an exact penalty quote from their bank before committing to a refinance.
The Portfolio Tab
The Portfolio tab displays every completed file in your pipeline — there is no limit to how many files can appear here. Scroll horizontally to view the full set of tracked details for each client's mortgage:
Column | What It Shows |
Lender | The lender the client's mortgage is held with |
Original Balance | The mortgage balance at the time of closing |
Current Balance | Live-tracked balance, adjusted for the paydown schedule, lump sums, and frequency changes |
Interest Rate | The client's current contract rate |
Term | The mortgage term length |
Years / Months Remaining | Estimated remaining amortization and time left in the current term |
Penalty Amount | Estimated penalty — either 3-months-interest or IRD, depending on mortgage type |
Break-Even Rate | The rate the client would need to qualify for to make refinancing worthwhile |
Net Savings | Estimated savings after penalty, calculated using your configured obtainable rates |
How Penalty Calculations Work
Broki determines the penalty type based on the mortgage type on file:
Variable / Adjustable-rate mortgages — penalty is calculated as 3 months' interest
Fixed-rate mortgages — penalty may be calculated using an IRD (Interest Rate Differential) structure, based on posted rate data for that lender at the time the client's term began
If no rate data is available for a file, the penalty amount will display as $0
Broki then calculates a break-even rate — the rate the client would need to obtain in order for refinancing to result in a net savings, after accounting for the penalty. For example, a client paying a penalty might save money over the remaining term of their mortgage if they can secure a sufficiently lower rate, even after the penalty cost is factored in.
Configuring Obtainable Rates
To calculate potential net savings using today's rates, you'll need to enter your current obtainable rates:
Go to Configure Obtainable Rates
Enter your current Conventional, Insurable, and Insured rates
Broki will automatically apply these rates across every applicable file in your portfolio and recalculate net savings
Best Case, Average Case, and Worst Case Estimates
Because Broki cannot always confirm the exact rate hold discount a client received, penalty estimates are presented as a range:
Scenario | Rate Basis | Description |
Best Case | 0.15% lower than stored posted rate | A more optimistic estimate, assuming a slightly better rate hold discount than average |
Average Case | Posted rate as stored in database | Based directly on the actual posted rate data Broki has collected (back to 2021) |
Worst Case | 0.15% higher than stored posted rate | A more conservative estimate. Not a guaranteed ceiling — actual penalty could still be higher, though unlikely |
Note: This range applies primarily to fixed-rate mortgages using IRD calculations. Terms longer than five years (and all variable/adjustable mortgages) default to the straightforward 3-months-interest calculation, which does not require a posted-rate estimate range.
Enhanced Mortgage File Tracking
Open any individual mortgage file to see additional tracked details, including Estimated Amortization and Estimated Balance. These figures update automatically based on the mortgage's paydown schedule.
Editing Mortgage Details
From the file, select Edit Details to access expanded tracking options, including transaction type and payment events:
Transaction Type — Reverse: Resets the amortization and balance, which will then begin climbing over time to reflect interest accrual instead of paydown
Transaction Type — Purchase: Returns the file to a standard paydown schedule
Mortgage Type Changes (Variable / Adjustable): Switching between variable and adjustable recalculates the paydown schedule based on differences in how each responds to prime rate changes
Lump Sum Payments: Log the date and amount of a lump sum payment. Broki adjusts the estimated balance to reflect both the payment itself and the extra interest savings generated by it. Lump sum entries can be deleted if entered in error
Payment Frequency Changes: Logging a change (e.g. monthly to accelerated bi-weekly) on a specific date factors that change into both the estimated paydown and remaining amortization
⚠️ Important: Once a file is marked Closed, the mortgage type (fixed, variable, adjustable) cannot be changed. To make a change, you must first unmark the file as complete, or adjust the closing date to a later date. This restriction exists because a mortgage cannot switch from fixed to variable/adjustable, though it can switch between variable and adjustable.
Best Practices
💡 Prospecting: Use the Portfolio tab as a prospecting tool. Sort or scan through your completed files to identify clients whose break-even rate is at or below today's obtainable rates — these are your strongest refinance opportunities.
💡 Client conversations: Frame penalty numbers as an estimate and a starting point for the conversation (e.g. "It looks like we could save you around $3,500 — let's confirm your exact penalty with your bank and see if this makes sense"), rather than presenting them as guaranteed figures.
💡 Keeping data accurate: Log lump sum payments and payment frequency changes as soon as your client tells you about them. This keeps estimated balances, amortization, and penalty calculations accurate for future refinance conversations.
Related Updates
This update was released alongside improvements to mortgage file tracking. A separate knowledge base article covers Broki's contact deduplication feature, which helps identify and merge duplicate contact records in your database.