Loan officers may submit rate lock request for TBD properties. Adversely, Loan Officers will receive a notification impeding their progress when trying to submit a lock request for a TBD property when the configuration is turned off.
The system administrator must have set Locking - Subject Property Street Address Required for Valid Lock Request in iMP System Admin is set to ‘False’ (set to ‘False’ by default) to request a rate lock for TBD properties. Additionally, Pricing/Locking functionality must be turned on within Vendor Manager.
- The user will not notice any popup notifications that may impede the loan process when requesting rate locks for TBD properties if the loan was filled out properly and prerequisites were met.
- The user will receive the following notification if the system is not configured to allow lock requests for TBD properties:
- The user will be unable to proceed with their lock request until a valid property address has been provided or the configuration is changed.