Rate Lock

The Rate Lock Management API allows you to submit a rate lock request for a loan and view rate lock information, extend, re-lock and cancel an existing lock. You can also view the snapshot of the loan at the time of each rate lock request.


Managing Rate Locks

Keep the following points in mind when managing rate locks:

  • If the Lock Desk is enabled in Encompass, create (POST) lockRequests are sent to the Lock Desk and are subject to the Lock Desk hours and settings.

  • If EPPS is the product and pricing engine used for the loan and the Auto Lock and Confirm settings are enabled for Create Lock Request, Request Extension, or Cancellation requests in Encompass Settings, the lock is automatically locked, extended, or canceled and confirmed when the request is received.

  • If EPPS is not used for the loan and the lock request portion of your provider's product and pricing process has not been integrated with Encompass, the request is sent to the Lock Desk. If the Lock Desk is not enabled, the request will remain in "requested" state until it is confirmed or denied by a user who is assigned the Secondary Registration persona.

  • The Rate Lock APIs will restrict access to the loan file based on Encompass Persona Access to Fields rules. If the API user’s configured persona does not have access to view an individual field based on the configured rules, they will not see the field data returned through the Rate Lock APIs.