How to Merge Files in Encompass
Merging loan files in Encompass is a common task, particularly when multiple borrowers apply for the same loan through separate LiteSpeed links or when a loan requires more than two borrowers. Here is a step-by-step guide on how to merge files efficiently.
When to Merge Files
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Multiple Applications: When two LiteSpeed applications for the same loan are submitted via separate links.
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Three or More Borrowers: Since LiteSpeed allows only two borrowers per application, additional borrowers must apply through their own links and then be merged into the primary file.
Step-by-Step Instructions
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Open the Primary Loan File: Start by opening the Encompass file you want to serve as the main loan record.
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Access 'Manage Borrowers': Locate the borrower's name at the top of the screen and click the pencil icon next to it.
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Initiate the Import: In the 'Manage Borrowers' window, click the Import button.
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Select the Source: For the 'Source' field, choose Another Loan File.
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Choose the Borrower Position: * Select Co-borrower if you want to add the new borrower to the existing application.
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Select Another Borrower Pair if you want to create a separate borrower pair within the same file.
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Find and Select the File: Click Next to view your list of loan files. Browse or search for the file you wish to merge, highlight it, and click Select.
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Finalize the Merge: Encompass will process the merge in a few seconds. Once complete, you can close the 'Manage Borrowers' window.
Your borrowers will now be consolidated into a single loan file, ensuring all information is organized and accessible in one place.