To select VA IRRRL in Optimal Blue, the following fields in Encompass should be marked as noted below for a 2020 application:
- Purpose of Loan (19) to “No Cash-Out Refi”
- Purpose of Refinance (299) to “No Cash-Out Streamlined”
- Refinance Type (MORNET.X40) to “Interest Rate Reduction Refinance Loan”
- Documentation Type (MORNET.X67) of “Streamline Refinance”
- Loan Type (1172) of “VA” checked
Note: It is recommended that the Loan Purpose field in Optimal Blue is read-only/locked down.