This Validate Loan screen allows the user to view loan validation data and shows a comparison of the 1003 Value, Registration Value, Current Lock Value, U/W Value, and/or Previous Lock Value. Users can access the Validate Loan screen before and after the loan has been finaled with the applicable user rights (noted below) by clicking on Validate Loan in the left-side navigation under Status & Tracking.
The Loan Validation will show the differences between the 1003 Value, Registration Value, Current Lock Value, U/W Value, and/or Previous Lock Value. Fields highlighted in Red indicate differences exist that will prevent the user from submitting the Closing Docs until the differences are corrected. Fields highlighted in Yellow indicate differences exist, but are caution messages only, and will not prevent the user from submitting Closing Docs.
If the user has the View Validation user right, the Loan Validation will open as a pop-up window and an email notification may be sent when any of the following events occur in the LOS: selecting Final Approval/Ready for Docs as the Underwriting Decision on the Forms & Docs > U/W Conditions Decision screen; selecting Final under Actions for a locked loan; selecting Release under actions for a locked loan.
Tip: Validate Loan Results notification must be enabled at a User Group or individual Profile level for user(s) to receive an email notification when the Loan Validation event occurs.
Click Close to return to the Dashboard.
Click the Printer Icon next to Status & Tracking > Validate Loan to open a printable version of the Loan Validation screen.