Locking & Adjustments – Locking a Loan Product

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The User has the option to Submit Lock Request within the Locking & Pricing Adj. page. The user must be given the privilege to submit requests through General Settings within the Concierge site.

  • The function line “Enable Pricing button after ITP” must be marked to “Yes” for the user to have functionality use for this privilege.

 

  • The user can view the Lock Status in the upper right corner of the Locking & Pricing Adj. When the status is set to “Not Locked” the user will NOT have the option to Update Pricing, rather, they will be required to Shop for Rates.

 

  • By selecting Submit Lock Request the user will “Lock” the particular loan product they initially selected when shopping for rates.

 

  • They will be prompted to review and confirm their request within the notification modal.

 

  • Once the user confirms the locking request and saves their progress:
    • The Lock Status will update to “Locked”
    • The user will have access to the Update Pricing button

  • Once the loan product is locked, the user will be able to perform an update to the product by simply clicking a button instead of navigating through multiple screens.

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