Transactions Requiring Manual Lock or Specific Input
Revised 3/1/2012
A loan requires a manual lock when it contains features that are eligible for sale to Chase and are not yet programmed in ChaseLoanManager. To make data changes on a manually locked loan, fax a complete Change Request Form to Chase.
After a loan is manually locked due to a system constraint, ChaseLoanManager considers it to be a system product exception. As a result, all fields on the Register/Lock screen are disabled on the locked loan and the following message will display at the top of the screen:
"A product exception has been identified on this loan. Please contact
Registration to make data changes to your loan."
To make data changes on a manually locked loan, fax a completed Change Request Form to Chase.
The information below provides all scenarios requiring a manual lock and scenarios requiring specific input. This Web page is updated regularly; please visit it often to check for updates.
Loans Requiring a Manual Lock and/or pricing changes after initial lock
| Transaction |
Scenario Requiring Manual Lock |
Applies to Pricing Type(s) |
| Best Effort |
AOT/Direct Trade |
| FHA programs that can exceed the standard LTV/CLTV limits |
- Grants
- HUD Repo
- Good Neighbor
Note: Available for Purchases only
|
X |
X |
| FHA Cash-Out Refi |
FHA Cash-Out Refinance transactions with a total LTV >87%, due to increased Upfront MIP |
- |
X |
| FHA total LTV >98% |
FHA total LTV >98%
|
X |
- |
| VA IRRL (Streamline Refi) |
LTV/CLTV that exceeds 105% after inclusion of VA Funding Fee |
X |
X |
Loans Requiring Specific Input (All Pricing/Delivery Methods)
FHA/VA Loan Escrows
FHA and VA loans should always escrow for taxes and insurance. Leave the Escrow Waived field blank for these loan types.
VA High Balance
VA High Balance loans require a Base Loan Amount to be entered for pricing to be correct on all pricing types.
Subordinate Financing
Complete the Subordinate Financing field as follows:
- For closed-end subordinate liens, enter the amount of closed-end subordinate lien.
- For HELOCs, enter the amount of outstanding funds that have been:
- drawn prior to closing, or
- will be drawn at closing.