Loose screw on 727 valve body?

62newportnewbie

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So i wanted to clean my trans pan, and change fluid on my 62 Newport with a 727 transmission..

After pulling the pan, i noticed this screw in the side of the valve body on the driver's side, shift cable side, toward's the rear of the car... there is a plate with 5 small phillip's head screws with small lock washer's on them screwed into the "side" of the valve body. 4 of the screws look to be "tight" One of the screws looks obviously "loose" although you can not turn it with your finger...

I am wondering if i should try and tighten this screw? I am not a trans guy except for fluid changes ha... it seems strange it would not be "tight" like the other 4 screws?

I took the best pic i could get with a lap top... it is not the greatest pic but one of those screws is out like 3 or 4 turns its seems like, and not even touching the lockwasher.. and the other screws seem to be "tight"

Any thoughts from people who may have worked on these transmissions?

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I've found them loose before.

Gingerly tighten the loose bolt and check the rest. Use an offset screwdriver to get up in there. If they strip out, they are an easy fix with a Heli-Coil, but in that case, the valve body will need to get pulled to repair.
 
I've found them loose before.

Gingerly tighten the loose bolt and check the rest. Use an offset screwdriver to get up in there. If they strip out, they are an easy fix with a Heli-Coil, but in that case, the valve body will need to get pulled to repair.
Thank you very kindly Big John -- will give it a go.
 
Decided to change out this decrepit inline filter while i am under the car... had a tough time getting it off, did not want to mess up the cooler lines as i am trying to get this car going as a driver without getting real deep into it from a $ perspective..

Took some heat with propane torch, and spray to get it loose...cooler lines are still usable as they are, so going with a Wix #58964 inline filter to keep it simple... have noticed some people change out pan and go with an in pan filter as an upgrade on the early transmissions... I am going to double clamp a Wix on there ($18) and see how that goes...

Just could not see cleaning out the pan, new fluid and not getting this old filter off... Maybe Chrysler was way ahead of the times trying an inline filter? Seems some new cars use them?

So far under ~ $300 to possibly get it rolling... 2 brakes are stuck, if i can get this tranny squared away, that would be next..

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