Using LenderLogix AI in LiteSpeed
Overview
LenderLogix AI is built into LiteSpeed to help you analyze borrower applications quickly and effectively. Whether the application was keyed directly into Encompass or submitted through LiteSpeed, this feature provides you with instant insights into the loan file.
Accessing LenderLogix AI
You can access LenderLogix AI in two ways:
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From Notifications
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When a borrower submits an application, you’ll receive your usual email or text notification.
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At the bottom of this notification, look for the new button: “Analyze with LenderLogix AI.”
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Click this button to run an AI-powered analysis of the file.
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From Your Application Dashboard
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Log in to your LenderLogix application dashboard.
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Select the application file you’d like to review.
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Inside the application details screen, look for the LenderLogix AI button at the top of the page.
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Click it to start the analysis.
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What the AI Analysis Provides
Once you click the button, LenderLogix AI reviews all borrower-submitted information. After a short processing time, you’ll see insights grouped into three key components:
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Loan Overview
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High-level summary of the application details.
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Quick access to loan basics such as loan type, amount requested, and transaction type (e.g., purchase or refinance).
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Suggested Loan Type
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AI provides a recommendation for the potential loan type based on the borrower’s submitted data.
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Example: Borrower submitted as a Refinance request for $300,000.
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Borrower & Loan Details
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Key borrower information pulled directly from the application.
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Quick visibility into the fundamentals without needing to sift through the full file.
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Benefits of Using LenderLogix AI
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Save Time: Quickly evaluate borrower applications without digging into every detail.
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Gain Confidence: Receive AI-backed insights to support your decision-making.
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Stay Organized: Access the feature seamlessly from notifications or within the LiteSpeed dashboard.