oPOS: Forward Lock

The forward lock is a streamlined version of the standard lock designed to take advantage of a particular loan product before providing the initial loan information.  

Table of Contents  

• Overview

• Summary

Overview

The forward lock feature allows the user to place a lock on a loan product while the user is on the pricing results page. When there is not a loan product previously applied, then the system will perform a streamlined lock request submission where the following checkpoints are skipped:

• Locking - AUS Run Required for Valid Lock Request
• Locking - Detached Condos Restricted for Valid Lock Request
• Locking - Refinance Scenarios Allowed for these DivisionIds
• Locking - Refinance Scenarios Not Valid for Lock Request
• Locking - Subject Property Street Address Required for Valid Lock Request

To place a lock on the selected loan product, open the Apply drop-down menu and select Submit Lock (Added in 6.0.1000)

Note: the forward lock feature is a privilege setting that must be enabled by a system administrator. 

Summary

The forward lock is a streamlined version of the standard lock that allows the user to bypass completion of the loan information for a limited amount of time in order to take advantage of a specific loan product