Initiate a Loan Application on Behalf of Your Borrower

LenderLogix offers a convenient way for you to initiate a loan application on behalf of your borrower. This feature is ideal when you have a borrower on the phone and want to quickly take the first steps in their loan process. Here’s a step-by-step guide on how to use this feature from any device, including your mobile phone.

Step 1: Launch the New Loan Application

• Navigate to the Homepage: Log into your account and start from the homepage.

• Select "Start New Loan": Tap the option to begin a new loan application.

  • 
  • 

Step 2: Enter Borrower Information

• Input Basic Details: Provide essential borrower information, such as name and contact details.

  • 

• Credit Authorization: Ensure you have the borrower’s authorization to pull their credit. You’ll have various options for how to handle credit checks.

• Add Co-Borrower (Optional): If the borrower has a co-borrower, you can include their details at this stage.

  • 

Step 3: Create the Loan File

• Click "Create New Loan": This action generates a new loan file in Encompass.

  • 

• Wait for the Loan Number: You’ll receive an Encompass loan number shortly, indicating that the file has been successfully created.

Step 4: Review and Continue the Application

• Review Borrower Information: At this point, only basic information has been collected.

  • 

• Decide on Next Steps: You can conduct a preliminary credit review before proceeding further.

• Share Part Two of the Application:

  • Email, text, or copy the link to the borrower.

    • 

  • You can also send the needs list to the borrower via email or text.

    • 

Step 5: Order and Review Credit

• Navigate to the Credit Order Section: Scroll down to the credit section.

  • 

• Select Hard or Soft Pull: Depending on your setup, you’ll have the option to perform either a hard or soft credit inquiry.

  • 

• Connect to the Credit Agency: Initiate the credit pull and wait for it to process.

• View the Credit Report:

  • The credit report can be accessed on your current device, the below prompt will appear once the report generation is complete.

    • 

    • 
      • 

  • Use pinch-and-zoom on mobile devices to view details more easily.

• Confirm Credit Data: Refresh the main page to see the updated credit scores and trade lines in LenderLogix.

  • 

Step 6: Determine Next Steps

• Assess Borrower Qualifications: Review the credit and liabilities to determine if the borrower qualifies.

• Complete Part Two:

  • Send the link to the borrower to complete the second part of the application.

  • Alternatively, you can log into Encompass and complete the remaining details yourself.

Using this feature allows you to quickly collect borrower information, pull credit, and prioritize the application process. If you have any questions or need further assistance, don’t hesitate to reach out to the LenderLogix support team.