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locked-letter pdf
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Updated 10/4/2006
Frequently Asked Questions (FAQs)
Directions for remote Account Executives to access the eLock training:
1. Go to the corporate website at https://www.saxonmortgage.com/
2. Click on the brokers tab at the top of the page.
3. Click on the AE login link at the top right hand corner of the page
4. Click on the eLock training link that is on the internal AU login screen.
5. Type in saxon\user name (ex. harneyk1) and password and click the OK button. The user name and
password are the same user name and password you use to log into the network. Be sure to use the \
(forward slash) and not the / (back slash) between the domain name and your user name.
6. On the eLock training page, click on the tutorial link to access the training.
eLock FAQs 1
Updated 10/4/2006
Why don’t I hear the audio for the eLock training even though I have my headphones plugged into my
computer?
The volume on your computer may be muted or on a low setting.
Take the following steps to check your volume:
1. Double click on the speaker icon in the lower right hand corner of your desktop near the time. If
you don’t see the speaker icon, click on the double arrows (<< ) to make it visible.
2. Once the volume control dialog comes up, review the mute checkboxes. Uncheck any of the mute
checkboxes that are checked and make sure the volume control slider is not on the lowest setting.
eLock FAQs 2
Updated 10/4/2006
My login and password are not working. What should I do?
Be sure that you are using the same login and password that you use for AU when
logging into eLock.
When I go into eLock from AU/Equal, the rate and price fields are already filled, where is this data coming
from?
On unlocked loans, eLock defaults to the price point and rate selected in AU/eQual, based on pricing in
effect the last time the loan was underwritten by AU. If you run a loan through AU but wait to lock,
when you revisit the loan overview page you will need to re-underwrite the loan in AU to refresh the
pricing grid. Once a loan is locked, eLock defaults to the locked rate or price depending on whether the
loan was locked rate to price or price to rate. eLock makes a call to the engine when a loan is pulled up
and displays the pricing based on the current loan data.
When I pull up a loan in eLock, the "Calculate" and "Ready to Lock" buttons are both grayed out and
unavailable. Why does this happen?
The eLock application automatically makes a call to the pricing engine when a loan is first pulled up
and displays the pricing based on the current loan data. If you have authorization to price but not to
lock (price only), this causes both the “Calculate” button and “Ready to Lock” button to become
unavailable. If you change the rate, price or any other editable field in eLock and press the tab key, the
“Calculate” button will then become available for you to re-calculate pricing that includes your
change. Be sure to remember that when the application opens, pricing has already been calculated
based on current loan data and does not need to be re-calculated unless you change data within the
eLock application itself.
If data has changed on a locked loan, can I see the previous value in eLock?
Yes. On a locked loan, any data fields that have changed since the time of lock will show in red. If you
mouse over the field with the mouse pointer, a small box will appear that shows the previous value of the
field.
eLock FAQs 3
Updated 10/4/2006
Does the eLock application automatically e-mail the confirmation letter to the e-mail address I entered on the
eLock main page?
Yes. For the Retail channel, the loan officer and processor associated with the loan will also receive a
copy of confirmation letter. For Correspondent, the regional account manager and internal account
manager and for Wholesale, the account executive will receive notification that a loan has been locked
or revised.
Can I fax the confirmation letter from the eLock application in addition to either e-mailing or printing it?
Yes, you can fax the confirmation letter using the steps below:
A. Go to the confirmation tab in eLock
B. Click on the “View Confirmation Letter” link. The confirmation letter will display in Adobe Acrobat.
C. Click on the Print button and choose Fax “Printer” from the Printer Name dropdown. Click the OK
button. If you receive a message stating that your fax account is not found, you will need to contact
the help desk so that they can correct your fax account set up.
eLock FAQs 4
Updated 10/4/2006
D. Put in the name and fax number of the person you wish to fax the confirmation letter.
E. If you click on the Cover Sheet Notes tab, you can type a message for the recipient on the fax cover
sheet.
eLock FAQs 5
Updated 10/4/2006
F. Click the send button.
G. Please make sure the next time you print, you double check the printer setting. Fax “Printer” will
be the default printer the next time you pull up a confirmation letter. If you don’t want to fax, you
will need to change the printer.
Why does the eLock application freeze when I try to pull up the confirmation letter and what can I do to correct
this when it happens?
This may be the result of Adobe Acrobat trying to prompt you to update the software. Click the alt key
and tab key at the same time to see if an Adobe Acrobat update dialog appears. If it does appear, go
ahead and update the software.
If I extend my lock and determine that I don’t really need the extension, can I change my lock period back to
the original lower lock period?
No. Once a higher lock period is chosen, eLock will not allow a lower lock period to be selected. Make
sure that the extra time is needed before extending the lock but don’t wait too long to do the extension
because only active locks can be extended in eLock.
eLock FAQs 6
Updated 10/4/2006
I’ve gone into eLock and revised locks for loans that are on the lock revision report. Why do these loans still
show on the report as needing revisions?
The lock revision report is not a real-time report. There is a nightly process that runs an iCheck on all
loans with current locks to determine if a revision is needed. If you revise the locks on loans that appear
on the report, they will remain on the report until the next morning.
Will current specials be included in pricing return from eLock?
eLock includes all rates, specials and adjustments in effect at the time of lock.
How do I know if the loan is locked?
There will be a commitment number assigned to the commitment field in the Loan Summary section.
eLock FAQs 7
