Brief the borrower on the rate-lock decision
Rung 8 of 10 · Cognitive verifier
1 · Learn the move · Cognitive verifier
'Should I lock?' is the question where a broker either shows their work or guesses. And guessing at a forward rate is malpractice. The cognitive-verifier move is to lay out the decision from the pasted terms only: what's locked versus floating, the index and spread and floor exactly as quoted, the lock cost and deposit, the conditions to lock, and the timing. Then run a critique pass that re-checks each rate component against the quote before you send it. Every number is quoted, never invented: no made-up SOFR level, no forward-rate call, no assumed floor. Any all-in rate is set up for a calculator. Lock and expiry dates get tagged for a real calendar. You brief the decision; the borrower makes it. Predicting where rates go is the one thing you never do.
Rates look like they're moving. Should my client lock this loan? [paste lender terms]
2 · Your turn. You write the prompt
Your borrower has to decide whether to lock. The lender's terms: index = SOFR at 4.35% (as stated on the quote), spread 210 bps, rate floor 6.25%, a 30-day rate-lock at a 0.25% deposit, application dated today with a rate-lock expiry 30 days out. The client emails: 'should I lock?' Write the decision brief without predicting where rates go.
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