Since the terms and conditions of the bid can vary slightly due to underwriting or other factors during the closing process, IMX Exchange has no way of knowing when to archive the loan file after it has been locked. This results in an ever growing accepted bids list.
By changing the status of a loan from locked to closed, you can keep closed loans from appearing in your accepted bids list. At the same time, you will provide IMX Exchange with some valuable feedback regarding the final pricing, how the lender performed, and any other comments you want to provide.
Closing a loan does not remove it from IMX Exchange — it only changes its status so that it doesn’t appear in your accepted bids list. You can access your closed loans as easily as you access any other loans you’ve posted.
What do you want to do?