Creating holds
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To place a loan process on hold in LPS: 1. Access the Holds tool and select the process(es) to place on hold, providing a reason and start/end dates. 2. Add comments and notification preferences as needed. 3. Click save, which creates a pending hold requiring approval. 4. Approve, deny, or edit the hold from the Hold History tool after reviewing for appropriateness.
Creating holds
- 1. Creating Holds Once the loan is pulled up in LPS, go to the process you need to place on hold and complete the following steps: 1) Tool menu Holds 2) Determine if there are other processes to place on hold and click the check box. 3) Select a reason from the drop down. 4) Be sure today’s date shows as the start date. 5) For the projected end date, go out at least a week; go out farther if you have a timeframe for expected completion. 6) Place a brief explanation in the comments section. 7) Determine if you want to be notified via intercom of changes to the hold. If not, uncheck the Send Intercom box. 8) Click save. You’re not done yet. The hold will show as pending until it’s approved: 1) Go to the status bar and click on your hold icon. 2) Go to Tool Menu Hold History. 3) Approve, Deny or Edit as warranted. 4) If denying, be sure to provide a reason. a. Most holds from attorneys can be approved; however some place processes on hold because of a case conversion or case dismissal. The process(es) will be closed when handling issues so these are unnecessary and can be denied: Unnecessary hold: case dismissed or Unnecessary hold: case converted.