MonitorBase has launched a platform that provides originators and borrowers access to an instant credit pre-qualification through a soft credit pull executed on their mobile device.
“Our pilot users are seeing very positive results and saving a bundle on credit report fees that would otherwise be wasted. Their referral partners also love that their prospects can use SoftPull to get a thumbs up on credit early in the process without a full loan application, or even a social security number,” said Louis Zitting, CEO of MonitorBase.
“Consumers are evolving and expect answers on demand. SoftPull gives clients instant credit pre-qualification to a lender’s products, early in the mortgage process. This provides both originators and their referral partner’s clients the ability to text to pre-qualify anytime, anywhere,” Zitting notes.
As mortgage companies pursue the digital mortgage process, a gap remains before the point of sale system where consumers are looking for low commitment ways to get answers and information. Systems like SoftPull are bridging the gap between shoppers and applicants.