Our integration with SimpleNexus, developer of the leading digital mortgage platform for loan officers, borrowers and real estate agents, is official. The integration puts new credit solutions in the hands of loan originators using the SimpleNexus digital mortgage app.
SoftQual is a pre-qualifying solution that enables SimpleNexus users to collect credit data via a “soft” inquiry before extending a firm offer of credit to loan applicants. Each SoftQual report contains all the information lenders need to match applicants to the right loan options — including a complete FICO® score, high credit limits and current account statuses — but costs significantly less than a full credit report. And because SoftQual inquiries are not recorded in applicants’ credit histories, they do not affect borrowers’ FICO scores and cannot be seen by competing mortgage firms that might try to undercut the original lender’s loan offer.
In addition to SoftQual, SimpleNexus customers can also order a full TriMerge Credit Report from Informative Research that consolidates data from all three credit bureaus — Equifax, Experian and TransUnion — and meets the underwriting requirements of Fannie Mae and other leading mortgage investors.
“Mortgage originators invest a great deal of time in cultivating relationships with their loan applicants, so the last thing they need is for competitors to start reaching out to their prospects with offers,” said Renae Sherman, VP of business development at Informative Research. “SoftQual solves that problem and simultaneously helps lenders lower the upfront cost associated with qualifying borrowers.”
Contact us today with any questions or inquires on these new features!
About SimpleNexus, LLC:
SimpleNexus is the digital mortgage platform that enables lenders to originate and process loans from anywhere. The company’s best-in-class, easy-to-use app connects loan officers to their borrowers and real estate agents to easily communicate and exchange data in a single location throughout the entire loan life cycle. Loan officers can manage their loan pipelines, order credit, run pricing, send pre-approvals and sign disclosures — all on the go. For more information, visit https://simplenexus.com/domore.