Ordering credit is a crucial step in evaluating borrower applications, and LenderLogix makes it simple and efficient. Whether you're working from your phone, laptop, or tablet, this guide will show you how to seamlessly order credit from your LenderLogix account.
Depending on your account's configuration, this feature may not be available. If that is the case, please contact your administrator with any questions.
1. Notifications
- When a borrower submits an online application, you'll receive a notification via email or text.
- From these notifications, you can follow a direct link to access the application details within your LenderLogix account.
- For example, click the "View More Details" link in the email notification to be redirected.
2. Viewing the Application
- Once you log in, look for the "Order Credit" option.
Note:
- This option is only available if the borrower provided credit authorization during their application.
- If the option is grayed out, the borrower may not have authorized credit checks, or this feature may not be enabled for your organization.
3. Order Credit
- Click "Order Credit".
- Select a hard pull or soft pull, if both options are available.
- The system will connect to the credit agency and initiate the process.
Viewing the Credit Report
- Once the credit report is ready, a prompt will open allowing you to view the credit report. Select the View Credit Report button to view it.
- On mobile devices, you may need to zoom in to view details.
- Review the report, then close the window to return to the previous screen.
Populated Data in LenderLogix
- The system automatically updates the borrower’s credit scores and liability section in LenderLogix.
The data will also sync over to the loan file in Encompass.
If you have any questions or encounter any issues, don’t hesitate to reach out to the LenderLogix support team. We’re here to help!