V1 Submit a Rate Lock Request

Use this API to create a new rate lock request if you are a Loan Officer. If you are a Secondary user, use this API to perform an action on an existing rate lock request for a specified loan, or submit and confirm a new rate lock request for the loan. You can also apply a loan program through while submitting a lock request.

Possible actions for a Secondary user include:

• confirm: Creates and confirms a new rate lock.
• extend: Extends the confirmed and current rate lock. This creates a new rate lock.
• relock: Re-locks the confirmed rate lock. This creates a new rate lock. If the re-lock is performed on an active lock, it is treated as a Lock Update. If the re-lock is performed on an expired or cancelled lock, it is treated as a Relock.
• revise: Revise or update the buy-side and sell-side of an active rate lock. This creates a new rate lock.
• cancel: Cancels a confirmed rate lock request.
• sellComparisonUpdate: Updates only the sell side and comparison side of a rate lock and creates a new rate lock without changing anything on the lock request or buy side.

Usage Notes

• If EPPS is the product and pricing engine used for the loan and the Auto Lock and Confirm settings are enabled for Create Lock requests in Encompass Settings, the lock is automatically locked.
• If the Lock Desk is enabled, 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.

Note: If a lock extension expires on a Saturday, Sunday, or holiday, the expiration date is automatically adjusted to the next business day as determined on the Company Calendar in the Compliance Calendar setting under Loan Setup in the Encompass settings.

• The Re-Lock option is available when there is an existing lock on the loan (lock can be in current, expired or cancelled state).
• The lock expiration date will not change from the original lock.