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Enhancements to Locking Services*

Charlie Gunn
  • Updated

Overview

Release 6.1.1000 includes the following changes to locking services:

  1. The configuration "Locking - Display Lock Actions & Monitor Changes" has been renamed to "Locking - Monitor Changes Post-Lock" and is no longer used to control the appearance of the Lock Actions button. Instead, the appearance of the Lock Actions button is now configured by the system to appear for oPOS (TPO), and will remain hidden in oPOS (Retail)
  2. The following configurations have been discontinued, since the system will now control the appearance of the Update Lock and Extend Lock buttons based upon the business channel, lock status, disclosure status, and other settings.
    • "Access to a) Extend Lock button for Pre-Line of Demarcation"
    • "Access to b) Extend Lock button for Post-Line of Demarcation"
    • "Access to c) Update Lock button for Pre-Line of Demarcation"
    • "Access to d) Update Lock button for Post-Line of Demarcation"
  3. A new privilege called "Pricing - Enable button Forward Lock on Pricing Results" has been introduced to allow users to perform a forward lock on the "Pricing Results" page. The existing privilege "Pricing - Enable button Submit Lock on Pricing Results" has been modified to trigger the standard lock workflow and will no longer trigger the forward lock workflow. For more information on the locking options available on the "Pricing Results" page, refer to this article.
  4. The system will no longer attempt to update both pricing and fees when submitting a lock request, and will instead only "Update Pricing" as part of the standard lock workflow when the system determines that the last repricing event is outdated or when pricing parameters have changed. 
  5. When changes are made to the following fields from the "Shop for Rates" page, the system will now trigger a pricing update when users attempt to request initial floating disclosures or to submit a lock request:
    • DTI 
    • Number of Properties Financed
    • Months of Reserves

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Acceptance Criteria

Use Case #1: Locking Configuration - Label Change

  1. Log in to iMP System Admin
  2. Navigate: Configuration > Configuration - Environment
  3. VERIFY: configuration "Locking - Display Lock Actions & Monitor Changes" has been renamed to "Locking - Monitor Changes Post-Lock"

Use Case #2: Appearance of Lock Actions Button (Retail)

  1. Log in to oPOS
  2. Create and complete a new loan application
  3. Shop for Rates and apply a loan product
  4. Open the "Locking and Adjustments" page
  5. VERIFY: button Submit Lock Request is visible and is enabled
  6. VERIFY: button Lock Actions is not visible
  7. Use the Submit Lock Request to request a lock
  8. As a user with lock approval privileges, approve the lock request
  9. Once the lock is placed, return to "Locking and Adjustments" page
  10. VERIFY: button Submit Lock Request is not visible
  11. VERIFY: button Lock Actions is not visible
  12. Run AUS and request initial locked disclosures
  13. Generate initial disclosures in the LOS
  14. Return to the loan in oPOS and open "Locking and Adjustments" page
  15. VERIFY: the Submit Lock Request button is visible and disabled (i.e. cannot be selected)
  16. VERIFY: the Lock Actions button is not visible

Use Case #3: Appearance of Lock Actions Button (TPO)

  1. Log in to oPOS (TPO)
  2. Create and complete a new loan application
  3. Shop for Rates and apply a loan product
  4. Open the "Locking and Adjustments" page
  5. VERIFY: button Submit Lock Request is visible and is enabled
  6. VERIFY: button Lock Actions is not visible
  7. Use the Submit Lock Request to request a lock
  8. As a user with lock approval privileges, approve the lock request
  9. Once the lock is placed, return to "Locking and Adjustments" page
  10. VERIFY: button Submit Lock Request is not visible
  11. VERIFY: button Lock Actions is visible
  12. Select the Lock Actions button
  13. VERIFY: button Update Lock is enabled
  14. VERIFY: button Extend Lock is enabled
  15. Run AUS and request initial locked disclosures
  16. Generate initial disclosures in the LOS
  17. Return to the loan in oPOS (TPO) and open "Locking and Adjustments" page
  18. VERIFY: button Submit Lock Request visible and enabled
  19. VERIFY: button Lock Actions is visible and enabled
  20. VERIFY: button Update Lock is enabled
  21. VERIFY: button Extend Lock is enabled

Use Case #4: Monitor Changes Configuration Functionality (False)

  1. Set configuration "Locking - Monitor Changes Post-Lock" to 'false'
  2. Log in to oPOS (TPO)
  3. Create a new loan and complete the loan application
  4. Shop for rates and select a loan product
  5. Run AUS
  6. Change a field in the loan application, such as the borrower's income
  7. Go to Disclosures tab, complete the fields on this page and select Request Disclosures
  8. VERIFY: user is prompted to update pricing and fees
  9. Select Cancel without requesting disclosures
  10. Go to "Locking & Adjustments" page and submit a lock request (complete any price or fee updates necessary to request a lock)
  11. Approve the lock request as a user with lock approval privileges
  12. Once the lock has been approved, return to the Disclosures tab and Request Disclosures. 
  13. VERIFY: user is not prompted to update pricing and fees

Use Case #5: Monitor Changes Configuration Functionality (True)

  1. Set configuration "Locking - Monitor Changes Post-Lock" to 'true'
  2. Log in to oPOS (TPO)
  3. Create a new loan and complete the loan application
  4. Shop for rates and select a loan product
  5. Run AUS
  6. Change a field in the loan application, such as the borrower's income
  7. Go to Disclosures tab, complete the fields on this page and select Request Disclosures
  8. VERIFY: user is prompted to update pricing and fees
  9. Select Cancel without requesting disclosures
  10. Go to "Locking & Adjustments" page and submit a lock request (complete any price or fee updates necessary to request a lock)
  11. Approve the lock request as a user with lock approval privileges
  12. Once the lock has been approved, return to the Disclosures tab and Request Disclosures. 
  13. VERIFY: user is prompted to Update Lock before requesting disclosures

Use Case #6: Forward Lock - Privilege

  1. Log in to iMP System Admin 
  2. Open test user profile
  3. Open the Roles/Privileges tab
  4. VERIFY: privilege "Pricing - Enable button 'Forward Lock' on Pricing Results page" appears in the list of privileges
  5. Make sure that the test user does not have this privilege
  6. Log out of iMP System Admin
  7. Log in to oPOS
  8. Create a new loan and complete the application
  9. Shop for rates and navigate to the Pricing Results page
  10. Open the contextual button on the Apply button next to a loan product
  11. VERIFY: the Forward Lock option is not available in this menu
  12. Save the loan, log out and log in to iMP System Admin
  13. Give test user privilege "Pricing - Enable button 'Forward Lock' on Pricing Results page' 
  14. Make sure that test user has privilege "Pricing - Enable button 'Submit Lock' on Pricing Results page'
  15. Save new privilege settings and return to the loan in oPOS 
  16. Shop for rates and navigate to the Pricing Results page
  17. Open the contextual button on the Apply button next to a loan product
  18. VERIFY: the Forward Lock button appears in this menu
  19. VERIFY: the Submit Lock button appears in this menu

Use Case #7: Button Availability (Retail)

Ensure that the following buttons are available/unavailable under the following scenarios in a Retail environment:

  1. Pre Line-of-Demarcation, Pre-Lock
    • Shop for Rates: Enabled
    • Update Fees: Enabled (when product applied)
    • Update Pricing: Enabled (when product applied)
    • Update Price & Fees: Enabled (when product applied)
  2. Pre Line-of-Demarcation, Post-Lock
    • Shop for Rates: Enabled
    • Update Fees: Enabled
    • Update Pricing: Disabled
    • Update Price & Fees: Disabled
  3. Post Line-of-Demarcation, Pre-Lock
    • Shop for Rates: Enabled
    • Update Fees: Enabled 
    • Update Pricing: Enabled 
    • Update Price & Fees: Enabled 
  4. Post Line-of-Demarcation, Post-Lock
    • Shop for Rates: Enabled
    • Update Fees: Disabled
    • Update Pricing: Disabled 
    • Update Price & Fees: Disabled

Use Case #8: Button Availability (TPO)

Ensure that the following buttons are available/unavailable under the following scenarios in a TPO environment:

  1. Pre Line-of-Demarcation, Pre-Lock
    • Shop for Rates: Enabled
    • Update Fees: Enabled (when product applied)
    • Update Pricing: Enabled (when product applied)
    • Update Price & Fees: Enabled (when product applied)
  2. Pre Line-of-Demarcation, Post-Lock
    • Shop for Rates: Enabled
    • Update Fees: Enabled
    • Update Pricing: Disabled
    • Update Price & Fees: Disabled
  3. Post Line-of-Demarcation, Pre-Lock
    • Shop for Rates: Enabled
    • Update Fees: Disabled 
    • Update Pricing: Enabled 
    • Update Price & Fees: Disabled
  4. Post Line-of-Demarcation, Post-Lock
    • Shop for Rates: Enabled
    • Update Fees: Disabled
    • Update Pricing: Disabled 
    • Update Price & Fees: Disabled

Use Case #9: Update Pricing (No Fees) upon Lock

  1. Log in to oPOS (Retail or TPO)
  2. Create a new loan and complete the application
  3. Shop for rates and apply a loan product
  4. Go to the "Locking and Adjustments" page
  5. Select Submit Lock Request
  6. VERIFY: the system prompts the user to update pricing and fees. 
  7. VERIFY: the system does not prompt users to complete fee questions in order to complete the lock request

Use Case #10: New Fields for Price/Fee Updates

  1. Log in to oPOS (Retail or TPO)
  2. Create a new loan and enter the borrower's name
  3. Go to the "Shop for Rates" page
  4. Complete the required fields on this page to create a pricing scenario
  5. Make sure to complete the following fields:
    • DTI Ratio
    • Number of Properties Financed
    • Months of Reserves
  6. Shop for Rates and select a loan product
  7. Complete the loan application. Make sure to add different values for the fields referenced in step #5. For DTI, change the borrower's income. 
  8. Go to the "Loan Details" page and Update Pricing
  9. VERIFY: the three fields above appear in the list of changed fields in the following window

Corresponding Feature(s): 465664

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