Loan Officers and Branch Managers can quickly request Lock Extensions in Command Center in the Pipeline and in Loan Workbench > Pricing pages. When requesting Lock Extensions in Command Center, keep these in mind:
Automated Pay By Workflows:
- Branch Paid
- If a Loan Officer requests a Branch Paid Lock Extension, an email will be sent to the Branch Manager for them to respond to the request. If the Branch Manager "accepts" the request, a generated email will be sent to the Lock Desk Team LockDesk@AFNCorp.com for Secondary to proceed with the request.
- If the Branch Manager requests the Branch Paid Lock Extension, a generated email will be sent to the Lock Desk Team LockDesk@AFNCorp.com for Secondary directly.
- Borrower Paid
- If a Loan Officer requests a Borrower Paid Lock Extension, the request will automatically be processed through Optimal Blue and updates the lock expiration date in Encompass.
- There are a few exceptions to this:
- If the loan does not have an OBLoanID field or if the loan is flagged as a Float Down or Transferred/DPA. If any one of those three are true, an email will be sent to the Lock Desk Team.
- If an error is returned from Optimal Blue, we will send the error message to the Loan Officer requesting the extension to reach out to the Secondary Team LockDesk@AFNCorp.com.
- If the error is due to a pending lock extension already in the pipeline for the same loan, an error will let the Loan Officer know to try again later or contact the Lock Desk Team.
Tips:
- Lock Extensions will only be permissible given there is no pending alert for a secondary review. You cannot create a lock extension if you have already sent one to the Lock Desk Team for the same loan.
- Lock Extensions can be made if they have not exceeded 30 days max, have not exceeded five separate extensions and there is no Profile Change on the loan (key items have not changed since the original lock was issued).