Lock Desk Setup

Use the Lock Desk Setup to manage expiration settings, enable Seller commitment terms, configure the lock desk calendar, and set up lock desk hours and Overnight Rate Protection (ONRP).

Expiration Settings

Use the Expiration Settings tab to set the starting point for calculating the rate lock expiration date (field ID 762 on the Loan Estimate Page 1 and other input forms) and enable the Seller commitment terms.

By default, the starting point is the date the rate is locked.

ClosedTo Set the Starting Date for the Rate Lock

  1. On the menu bar, click Encompass, and then click Settings.

  2. On the left panel, click Secondary Setup, and then click Lock Desk Setup.

  3. Select one of the two options for the start of the lock period.

  4. Click the Save icon.

ClosedTo Set Behavior When Expiration Date is Excluded Day

  1. On the menu bar, click Encompass, and then click Settings.

  2. On the left panel, click Secondary Setup, and then click Lock Desk Setup.

  3. Select one of the two options for how to treat the expiration date when it is an excluded day.

  4. Click the Save icon.

ClosedTo Set Loan Estimate Rate Lock Expiration Default

  1. On the menu bar, click Encompass, and then click Settings.

  2. On the left panel, click Secondary Setup, and then click Lock Desk Setup.

  3. Set the time and time zone when the rate lock should expire.

  4. Click the Save icon.

ClosedTo Enable Seller Commitment Terms

These settings were introduced in the Encompass 19.2 release.

  1. On the menu bar, click Encompass, and then click Settings.
  2. On the left panel, click Secondary Setup, and then click Lock Desk Setup.
  3. To use the Origination lock terms when loans are committed between Correspondent sellers and buyers, select Use standard Lock Term fields (761, 432, 762) in the Loan File to represent Commitment Terms. This is the default setting.
  4. To use the Seller commitment terms when loans are committed between Correspondent sellers and buyers, select Use Commitment Term fields (4527, 4528, 4529) in the Correspondent Loan Status Tool to represent Commitment Terms

In addition, the Channel must be set to “Correspondent”.

  • If this option is selected, a message “By enabling the use of Commitment Term fields, standard Lock Term fields (761, 432, 762) in the Loan File will no longer be updated upon Lock/Commitment confirmation for loans in the Correspondent channel. Do you wish to continue?” will be displayed.

  • Select OK to close the pop-up message and enable the option.
  • Select Cancel to close the pop-up message and enable the default option.
  1. Click the Save icon.

Calendar

Use the Calendar tab to set the lock desk calendar.

ClosedTo Select a Lock Expiration Calendar

  1. On the menu bar, click Encompass, and then click Settings.

  2. On the left panel, click Secondary Setup, and then click Lock Desk Setup.

  3. Click on the Calendar tab.

  4. Select one of the following options for the start of the lock period:

  • U.S. Postal Calendar - Lock expiration cannot occur on Sundays or legal holidays. The read-only calendar blocks out Sundays and federal holidays.
  • Company Calendar - The administrator can select days to exclude from your company calendar. The read-only calendar blocks out the days selected by your administrator.
  • To configure the company calendar, click Compliance Calendar (under Loan Setup>Compliance Calendar), select Our Company Calendar, and then click days to exclude from your business calendar.

The Company Calendar is also used to indicate business days when determining compliance with RESPA regulations. Be sure your lock expiration settings do not conflict with RESPA compliance.

  • None - Lock expiration may occur on any day of the week. The read-only calendar does not show any blocked out dates.
  • Custom Lock Desk Calendar - The administrator can select the days to exclude from the calendar.

Federal holidays are blocked out by default.

    • To configure the calendar:

    • At the top left of the screen, click the Back or Forward arrows to change the calendar year.

    • Click a date to exclude it from the calendar. A pink background is added to the date.

    • Click an excluded date to include it in the calendar. The pink background is removed from the date.

    • Select Exclude Saturdays to exclude all Saturdays from the calendar.

    • Select Exclude Sundays to exclude all Sundays from the calendar.

  1. At the top right of the screen, select the Apply to Lock Extensions checkbox to apply the lock expiration calendar settings to lock extensions.

  2. Click the Save icon.

 

Lock Desk Schedule/ONRP

Use the Lock Desk Schedule/ONRP tab to manage when lock requests are allowed to be submitted and specify time and dollar limits for ONRP by channel. You can set up a central Lock Desk or Lock Desks by channel (Retail, Wholesale, or Correspondent), as well as set up Saturday and Sunday Lock Desk hours.

If Overnight Rate Protection (ONRP) has been enabled, the specified Lock Desk End Times will establish the ONRP Start Times for those channels/days of the week. If the Saturday or Sunday Lock Desk hours are specified, then any associated ONRP Weekend/Holiday Coverage will be disabled and specific ONRP hours will need to be set up that complement the Saturday or Sunday Lock Desk hours if a special ONRP time window(s) is desired on the weekend.

24 Hour Lock Desk

You can now set up a 24 hour Lock Desk for every weekday and/or Saturday and Sunday. When setting up a 24 hour Lock Desk , we strongly recommend that both the Start and End Times be entered as 12:00 AM. This will avoid having the Lock Desk open on one day and closed on the next.

Whenever Lock Desk hours are set to 24 hours, the corresponding ONRP Settings will not allow the entry of an ONRP time window.

ClosedTo Set Up the Lock Desk Hours

  1. On the menu bar, click Encompass, and then click Settings.

  2. On the left panel, click Secondary Setup, and then click Lock Desk Setup.

  3. Click on the Lock Desk Schedule/ONRP tab.

  4. Select the Enable Encompass Lock Desk Settings checkbox to enable the tab and transfer management of the lock desk from EPPS (or TPO Connect) to Encompass.

  5. Select either Central Lock Desk Hours for one Lock Desk, or Channel Lock Desk Hours for Lock Desks by channel.

ClosedCentral Lock Desk

    One set of Lock Desk settings is displayed and all three channel tabs are displayed in the ONRP Settings section.

    1. Select Central Lock Desk Hours.

    2. Enter a start and end time for the Lock Desk. For Saturday and Sunday, you must select Saturday Hours and/or Sunday Hours first.

    The lock desk hours can now flow from one day into the next.

      • If ONRP is enabled (for any channel) and the Lock Desk End Time is changed, a warning will be displayed stating that the ONRP Start Time will also be updated.

      • If the ONRP End Time overlaps with the Lock Desk Start Time, a warning will be displayed.

      • If the Start and End Times are the same, the lock desk will be open for 24 hours.

    We strongly recommend that both the Start and End Times be entered as 12:00 AM. This will avoid having the lock desk open on one day and closed on the next.

    1. Enter the message that will be displayed when a lock is submitted outside of the lock desk hours. This is a required field and cannot be blank.

      2. A default message is provided and will be used if it is not edited.

    2. Select the Shut Down Lock Desk (Temporary) checkbox if the lock desk must be temporarily shut down for emergency maintenance or other unusual circumstance. When the setting is enabled, the Lock Desk Shutdown Message is a required field and cannot be blank. It will be enabled for all three channels.

      3. When Shut Down Lock Desk (Temporary) is selected, no lock requests will be accepted by Encompass during that time and the Lock Desk Shut Down message will be displayed.

    3. Select the Allow Lock Update Requests (Active Locks) during lock desk shut down checkbox to enable active relock requests when the lock desk is temporarily shut down.

      This setting is available in the Encompass 20.1 September Service Pack and later. This setting was renamed in Encompass 21.3 from Allow Active Relock Requests during lock desk shutdown to Allow Lock Update Requests (Active Locks) during lock desk shut down.

    • The Shut Down Lock Desk (Temporary) setting must be selected to enable this setting.

    • If this setting is enabled, lock requests will be processed only when the Request Type = “Relock” and Request Lock Status = “Active Lock”.

    1. Enter the message that will be displayed when Shut Down Lock Desk (Temporary) is selected.

      2. A default message is provided and will be used if it is not edited.

    2. Click the Save icon.

ClosedChannel Lock Desks

Three sets of Lock Desk settings (one for each channel) are displayed as tabs and only the selected channel is displayed in the ONRP Settings section.

  1. Select Channel Lock Desk Hours.

  2. Select the channel you want to set up Lock Desk hours for.

  3. Enter a start and end time for the Lock Desk. For Saturday and Sunday, you must select Saturday Hours and/or Sunday Hours first.

The lock desk hours can now flow from one day into the next.

    • If ONRP is enabled (for any channel) and the Lock Desk End Time is changed, a warning will be displayed stating that the ONRP Start Time will also be updated.

    • If the ONRP End Time overlaps with the Lock Desk Start Time, a warning will be displayed.

    • If the Start and End Times are the same, the lock desk will be open for 24 hours.

We strongly recommend that both the Start and End Times be entered as 12:00 AM. This will avoid having the lock desk open on one day and closed on the next.

  1. Enter the message that will be displayed when a lock is submitted outside of the lock desk hours. This is a required field and cannot be blank.

    2. A default message is provided and will be used if it is not edited.

  2. Select the Shut Down Lock Desk (Temporary) checkbox if the lock desk must be temporarily shut down for emergency maintenance or other unusual circumstance. This is a required field and cannot be blank. More than one individual Lock Desk channel can be shut down and "reopened" at the same time or serially.

    3. When Shut Down Lock Desk (Temporary) is selected, no lock requests will be accepted by Encompass during that time and the Lock Desk Shut Down message will be displayed.

  3. Enter the message that will be displayed when Shut Down Lock Desk (Temporary) is selected.

    4. A default message is provided and will be used if it is not edited.

  4. Click the Save icon.

ClosedTo Set Up ONRP Channel Setting

You can set up ONRP to align with the Lock Desk hours by channel when present (Retail, Wholesale, or Correspondent), as well as set up Saturday and Sunday ONRP hours when enabled in the Lock Desk Hours section of the Lock Desk Setup setting.

  1. Select Enable ONRP for the appropriate channels to enable that channel’s settings.

    • On the Correspondent tab, you can select the Allow ONRP for Cancelled/Expired Locks checkbox to enable canceled or expired locks to be eligible for ONRP. If left blank, only initial lock requests are eligible for ONRP.

    By default, this setting is disabled.

    This setting was added in the Encompass 21.1 release.

    • The ONRP Start Time is set to the Lock Desk End Time and cannot be edited.
    • The ONRP End Time cannot be past the Lock Desk Start Time.

    If Weekend/Holiday Coverage is selected, the ONRP End Time must be set to A.M.

  2. Select whether you want the ONRP coverage to be continuous or a specific time period.

    • The ONRP Start Time is set to the Lock Desk End Time and cannot be edited.

    • The ONRP End Time cannot be past the Lock Desk Start Time.

    • If Weekend/Holiday Coverage is selected, the ONRP End Time must be set to A.M.

    • If the Lock Desk is set for 24 hours, the ONRP Start Time is blank and the ONRP End Time is disabled for all ONRP settings (if central Lock Desk is set) or the corresponding ONRP settings (if Lock Desk is set by channel). For Saturday and Sunday, the Saturday/Sunday Hours checkbox is also disabled.

  3. If you select Continuous Coverage:

    • The ONRP End Time is set to the Lock Desk Start Time and cannot be edited.
    • Saturday Hours , Sunday Hours, and Weekend/HolidayCoverage are disabled.

  4. If you select Specify Time:

    • Enter the ONRP End Time. For Saturday and Sunday, you must select Saturday Hours and/or Sunday Hours first.
    • The Saturday/Sunday Hours fields are available if enabled in Lock Desk Hours.

  5. Select whether you want Weekend/Holiday Coverage or not.

    • If Saturday Hours and/or Sunday Hours is selected in Lock Desk Hours, the Weekend/Holiday Coverage checkbox is disabled.

  6. Select whether you want No Maximum Limit or not.

    • If selected, the ONRP Dollar Limit $ and ONRP Tolerance % are blank and cannot be edited.

    • If not selected, the ONRP Dollar Limit $ and ONRP Tolerance % can be edited.

    • ONRP Dollar Limit $ is a required field and supports up to 8 digits.

    • ONRP Tolerance % is an optional field and supports up to 2 digits.

  7. Click the Save icon.

ClosedTo Set Up the ONRP Over Limit Message

  1. Enter any additional information you would like the requestor to know about a lock request that is over the daily limit.

    A default message is provided and will be used if it is not edited.

  2. Click View Message to see the standard and addendum messages in a pop- up window.

  3. Click the Save icon.