Cancel Rate Lock

Pricing engine integrations can request to cancel a confirmed rate lock by using the CANCEL action supported by the custom transaction result operations. The CANCEL action uses a required comments attribute, where the integration provides the cancellation reason or other free-form text to be recorded.

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Schema versions

This page documents application/vnd.productpricing-cancellock-1.0.0.json, in which comments is required.

Version 1.1.0 (application/vnd.productpricing-cancellock-1.1.0.json) makes comments optional. See Cancel Rate Lock v1.1.

Below is the JSON schema for the CANCEL transaction result details object:

{
    "$schema": "http://json-schema.org/draft-07/schema#",
    "type": "object",
    "properties": {
      "comments": {
        "type": "string",
        "description": "Reason for cancellation"
      }
    },
    "required": [
      "comments"
    ],
    "additionalProperties": false
  }

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Rate lock CANCEL operation constraints

The CANCEL result action can be performed only if there is a confirmed rate lock on the subject loan. If the loan does not have a confirmed rate lock, the cancel request is not applicable and returns an error.

Below is a sample payload for the cancel request operation:

{
  "status": "completed",
  "result": {
    "format": "application/vnd.productpricing-cancellock-1.0.0.json",
    "action": "CANCEL",
    "details": {
      "comments": "Cancelling lock, as borrower changed their mind"
    }
  }
}