QuickQual files have an expiration date and are not valid indefinitely. This guide will walk you through the steps to reactivate an expired QuickQual file in your account!
Step 1: Identifying Expired QuickQuals
- Log in to your LenderLogix account and navigate to your My QuickQuals page.
- Scroll down past your active files to find all expired ones, indicated by the "Expired QuickQuals" title and a red bar at the top of each file.
- Scroll down past your active files to find all expired ones, indicated by the "Expired QuickQuals" title and a red bar at the top of each file.
Note: If a borrower logs back into their expired QuickQual, you will receive a notification.
Step 2. Reactivating the QuickQual
- Choose the expired QuickQual you wish to reactivate from the list.
- Click on the three little dots next to the file to reveal the submenu.
- Click on "Extend Pre-Approval"
Step 3. Reviewing the Quick Qual File
- You are encouraged to review the QuickQual and will be brought through the four steps.
- Ensure all borrower and loan information is up to date.
- In Step 3, you must re-enter the maximum PITI and the maximum available cash boundaries. You'll be presented with your previous boundaries if you would like to keep them.
Step 4. Finalizing the Reactivation
- After reviewing and updating on Step 3, select "Extend Pre-Approval" at the bottom of the page.
Post-Reactivation Actions
- Resend Link and PIN: You can text or email the borrower their link and PIN.
- Notify Your Agent: It's a good practice to inform your agent that the borrower is active again in their house hunt.
By following these steps, you can efficiently manage expired files, keep borrowers informed, and support them in their journey to find the perfect home. Should you have any questions or need further assistance, reach our to our support team here at LenderLogix!