Retail mortgage lending company Tidewater Mortgage Services has optimized its digital application processes and enhanced the borrower experience by switching to the LiteSpeed point-of-sale (POS) system from LenderLogix.
The deal expands Tidewater’s partnership with LenderLogix, as it was already using its Fee Chaser payments solution.
Tidewater will now use LiteSpeed as the point-of-sale to automate mortgage processes and provide borrowers with a digital-first experience.
“We needed a POS platform that offered a more intuitive, borrower-friendly application process and greater automation than our previous platform,” says Mike Martin, vice president of project management at Tidewater, in a release. “LiteSpeed delivers on those needs, allowing us to streamline workflows, reduce friction for borrowers and ultimately close loans more efficiently. Our experience with Fee Chaser had already demonstrated LenderLogix’s reliability and efficiency, so expanding our partnership with LiteSpeed was the clear next step.”
LiteSpeed is designed to simplify the lending process for both borrowers and lenders. With its AI-driven capabilities, the platform enables loan officers to provide personalized application links that generate customized document checklists, streamlining submissions. Borrowers benefit from a user-friendly interface for uploading files, which are automatically integrated into Encompass, eliminating time-consuming manual handling.
“LiteSpeed delivers a seamless mobile experience that provides a competitive advantage for lenders trying to get ahead in a market where consumers demand convenience,” says Patrick O’Brien, co-founder and CEO of LenderLogix. “By supporting and enhancing early customer engagement, we’re empowering our customers to deliver exceptional borrower experiences at a cost-efficient price.”