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Credit Reporting Services for Mortgage Brokers & Lenders

Soft Pull Solutions is now providing services to mortgage brokers and lenders.

As a mortgage broker or lender, your financial decisions are crucial. At Soft Pull Solutions, we understand that you need accurate and timely credit information to help you make decisions to close a greater number of loans more efficiently on a regular basis. More and more mortgage brokers and lenders are relying on credit reporting software for their work, which is why we are now providing indispensable credit services.

When you pull a credit report with Soft Pull Solutions, we will diligently ensure that the clients and entities you are verifying are not restricted from financial transactions by the U.S. treasury. Our services will help you solve mortgage-related issues that have kept you from being able to close some of the more difficult loans. Our main goal is to speed up the approval process for your loans so that you can grow your business faster.

Why do mortgage brokers need a credit reporting service/agency?

We understand that giving out loans can be a very stressful and time-consuming process, especially if you don’t have the right tools at your disposal. That’s why we’ve made it our job to minimize your risk as a mortgage broker or lender.

Recent technology has made it easier than ever to streamline the decision-making process. We currently provide credit reporting solutions for each of the three main credit bureaus: Equifax, Experian, and TransUnion. Our Multi-Bureau Summary provides a seamless pull that gives you access to the three credit bureaus and an instant view of your applicant’s credit scores from each of them.

Benefits of using Soft Pull Solutions for mortgage credit report pulls

If you want peace of mind and you’re looking to save both money and time when you pre-qualify your customers for loans, Soft Pull Solutions can make the whole process a lot smoother for you.

Risk assessment and growth for your business

Do you want to make sure that you only take on the most qualified customers for financing? Credit reporting software can create comprehensive reports so that you can lower your risk as a lender or broker and provide loans with an informed decision, which will only help your business grow.

Soft Pull Solutions understands how important it is for lenders and mortgage brokers to receive a comprehensive report of a customer’s credit history and their financial stability so that they can provide lower-risk loans. Not only does using our software mean you will save money and spend less time with collections agencies, but it also ensures that you will make your financial decisions with peace of mind.

Our full-file reporting service offers:

  • Bankruptcies, liens, and judgments
  • Employment and income data
  • Consumer stability data
  • Contact information
  • Accounts types
  • Payment history

Find out more about the alternative credit data that Soft Pull Solutions credit reports can provide.

Make informed financial decisions with our integrated APIs

Do you want to conduct automated income checks and credit reports anywhere and anytime? We’ve got you covered. Soft Pull Solutions’ review dashboard offers a comprehensive range of verification services to make financing not only easier, but safer. We can share consumer data that are both positive and negative, giving mortgage brokers and lenders a clear picture of a client’s credit status. Our software also provides data with variation and with wider credit history. You can access data from five years back or further.

Whether you need access to liens and judgments, conduct prescreens, hard or soft credit pulls, or to verify income or employment, the use of an API can help make your work easier. API has an impressive range of uses and protections. Traditionally, mortgage brokers and lenders have had to deal with bulky paperwork and time-consuming meetings and assessments to verify credit history before approving loans. Fortunately, with the advancement of API integrations and by using a website or application, this whole process can now be completed in a fraction of the time and without an initial face-to-face meeting between lender and client, saving time for both parties involved.

With streamlined API integration also comes the ability to verify income and employment with automated income checks (AIC). As a lender or mortgage broker, sometimes a credit score on its own isn’t a sufficient determining factor. For that reason, it’s best to verify the client’s income to help prevent fraudulent activity and authenticate the client’s claim of income. This means looking at job history, income received throughout the year, and place of work. In the past, this task required time-consuming procedures. With our API integration, this information is readily and easily available to lenders and mortgage brokers when they’re evaluating potential clients.

API can also easily identify identity fraud. This includes the detection of fabricated data like address mismatching, social security numbers, and other important identity-related information supplied by the client. As a lender or mortgage broker, this is vital information and, without it, your business can be harmed in several ways:

  • You can incur financial loss from unpaid balances
  • It can negatively affect your reputation as a business
  • You can be hindered by account opening and maintenance costs

You must have adequate information to make informed decisions as a lender or mortgage broker since client information is one of the most important factors you need to consider when you’re drafting loans for your clients.

Not all pulling services are equal. Some pulling services are only capable of retrieving limited client information. Our service can acquire public records from civil court filings. This valuable information is possible to obtain with API integration. With modern API, the potential for lending is better than ever. Now you can provide loans safely and efficiently.

If you’re after a private agency to help you pre-qualify customers for financing, or if you have any questions regarding credit reporting software, Soft Pull Solutions is here to help. Book an appointment with us or give us a call today.

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