Forms & Docs > Investor Lock
After a loan has been locked, the Investor Lock screen will be available for editing on the left-side navigation under Forms & Docs. This screen is used to store the data from the investor lock and users should only complete fields that are applicable.
Tip: If loans are being sold through a trade or bulk sale, users should select Assigned Trade and select Submit at the bottom of the screen to copy the available data from the trade to the Investor Lock screen. If an existing trade is assigned and there is not drop-down list, users can select the blue Remove from Trade hyperlink.
Complete the Investor information (as applicable) by selecting the Investor, entering the Investor Lock Date, Investor Lock Expiration Date, and Investor Delivery Expiration Date, selecting the Commitment Type, and entering the Investor Loan #, Derivative Loan Commitment Price, and Branch Investor #.
Tip: Investor drop down list is setup in the MortgagebotLOS Admin Site under Product & Pricing > Investor Administration.
Tip: Date fields may be entered manually or by utilizing the calendar icon to the right of the field.
Tip: Commitment Type drop down list is setup in the MortgagebotLOS Admin Site under Product & Pricing > Attribute Administration > Commitment Type.
Complete the Servicer information (as applicable) by selecting the Servicer, entering the Servicer Loan # and Servicing Fee.
Tip: Servicer drop down list is setup in the MortgagebotLOS Admin Site under Vendor Admin > Servicer.
Enter the Lock Commitment # and Investor Lock Trade # (as applicable).
Select the Assigned Trade from the drop down list if loans are being sold through a trade or bulk sale. See the chapter on Trades additional Trade information.
Mark the check box next to Temporarily Assigned and/or Community Reinvestment Act, and Enter Lender Margin, Guarantee Fee, Mark-to-Trade Price, Gross Sell Price, and SRP (as applicable).
Select the blue Add Adjustment hyperlink to enter pricing adjustments (as applicable). The Investor Lock Adjustment screen will appear to enter Text and Value for the pricing adjustment click Submit to return to the Investor Lock screen. Repeat these steps to add each subsequent pricing adjustment. Select Edit to modify an existing adjustment and Delete to remove the adjustment.
Gross Buy Price data including Adjustments and Net Buy Price will populate from Forms & Docs > Lock Confirmation.
Compensation section will display any applicable LO Compensation information. A separate column will display the applicable Minimum/Maximum Dollar Adjusters.
Net Gain/Loss % and Net Gain/Loss $ automatically calculate based on the data in the Gross/Net Sell Price and Gross/Net Buy Price of the Investor Lock screen.
Click Submit to save the information entered on this screen and return to the Dashboard.
Tip: Submit will also copy available trade data if an Assigned Trade is selected.
Click Loan Notes to add loan notes. See the chapter on Loan Notes for detailed instructions on the Loan Notes screen.
Click Cancel to discard all changes made to this screen.
Click the Printer Icon next to Forms & Docs > Investor Lock to open a printable version of the Investor Lock screen.