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Updating and Correcting Property Unit Values

How and when to update specific property unit values in LMS for loans in Servicing; Definitions of Value Acronyms 

Primary Department Supported: Credit Officers / Underwriters 

Super Powers Needed? - YES 

Developer Support Needed? - NO 

Common Situations 

Once a loan moves into Servicing Active – Credit Officers and Underwriters need Product Support to update the ARV, AIV, & UWV values at the Unit Level.  

Important Considerations & Best Practices 

  • Approval Requirements: Updates to ARV, AIV, or UWV must be requested or approved by an individual with the title Credit Officer or Underwriter. 
  • Definitions:  
    • ARV — As Repaired Value 
    • AIV — As Is Value 
    • UWV — Underwritten Value 

Instructions: 

Locate the Property Units 

From the LMS Menu:

  1. select Servicing 
  2. Choose Units 
  3. Filter by Loan Number 
  4. Locate the unit(s) that require updates 
  5. Review the table and identify the ARV, AIV, and UWV columns 

To Update / Edit Values
  1. Turn on Super Powers 
  2. Select the square/pencil icon in the column you need to modify 
  3. Enter the updated value(s) exactly as provided 
  4. Click Save (located above the column headers) 
  5. Click Cancel to close the edit mode