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How to Handle and Send Part 2 of a LiteSpeed Application

When a borrower starts a LiteSpeed mortgage application, it is divided into two parts: Part 1 and Part 2. Once a borrower completes Part 1, that data automatically writes back into Encompass. However, if a borrower drops off before finishing the second half, you can easily identify these incomplete files and help them finish the process. This article guides you through identifying these applications and the two methods available for completing Part 2.

 

1. How to Identify Incomplete Applications

To find borrowers who have only completed the first part of their application:

  1. Log into your LenderLogix account.
  2. Navigate to LiteSpeed Applications in the left-hand menu.
  3. Locate the LiteSpeed App Status column within your pipeline view.

Understanding Status Labels:

  • Finished: The borrower has completed both Part 1 and Part 2.
  • N/A: The loan was manually keyed directly into Encompass and did not come through LiteSpeed.
  • Started: The borrower only completed Part 1 and needs to finish Part 2.

2. Completing Part 2 with the Borrower

There are two primary ways to manage a "Started" application, depending on whether you want to fill out the remaining details for them over the phone or have the borrower complete it themselves.

Method A: Complete the Application Over the Phone

If you have the borrower on the line and want to input the rest of the information for them:

  1. Locate the borrower's name in your LiteSpeed Applications pipeline.
  2. Click the dropdown arrow next to their name.
  3. Select Complete Application.
  4. A new browser tab will open, allowing you to fill out Part 2 of the application on behalf of the borrower while speaking with them.

Method B: Send Part 2 Directly to the Borrower

If you want the borrower to complete Part 2 on their own time, you can send them a direct link that picks up exactly where they left off:

  1. From the pipeline, click on Application Details next to the borrower's name.
  2. Inside the loan details view, click the Complete Application dropdown button at the top.
  3. Choose your preferred method to share the link:
    • Email to Borrower: Automatically drafts an email with the application link.
    • Text to Borrower: Sends the application link via SMS text message.
    • Copy Link: Copies the unique URL to your clipboard so you can send it through your own communication channels.