Mortgage Credit Application Rejections Hit 3-Year High

Soft Credit Checks & the Utility Provided to Mortgage Professionals

The numbers are in. The Fed has published the SCE Credit Access Survey and the mortgage application rejection rate has nearly DOUBLED between June and October 2018 and sits at a 3-year high. With 19% of mortgage credit applications FAILING, there is an urgent need for Soft Pull Credit Checks in the mortgage industry.

The numbers are in. The Fed has published the SCE Credit Access Survey and the mortgage application rejection rate has nearly DOUBLED between June and October 2018 and sits at a 3-year high. With 19% of mortgage credit applications FAILING, there is an urgent need for Soft Pull Credit Checks in the mortgage industry.

With a name and address only, a broker or lender can receive a FULL credit report and FICO score and save the time and money that would otherwise be wasted on a credit application failure on a tri-merge. A soft pull DOES NOT harm a consumer's credit, or show as an inquiry.

Ask us for more information here.

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