Why pay $30 for a tri-merge only to find out your client is not qualified? Get a prospective client's full credit report and FICO® Score using iSoftpull's soft credit check technology.
Recommended FICO® Score:
TransUnion - FICO® Score V4
Equifax - FICO® Score V5
Make better business decisions with a single, all-in-one platform that helps you plan, engage, and analyze data quickly.
Soft credit checks cost about $3 per bureau, whereas a tri-merge can cost up to $30 per report. Mortgage brokers save money using soft pulls because they are able to see if a client is pre-qualified before running a tri-merge, helping to reduce the amount spent on unnecessary tri-merges.
A soft credit check can be done with a name and address only and does not impact the consumer's credit, making it so consumers are more willing to fill out pre-qualification mortgage applications. This is because it is less time-consuming than filling out a full-length application online (people hate filling out lengthy applications) and reduces objections from customers who are reluctant to give out their social security number.
Soft credit checks do not activate "trigger leads." As such, the days of running credit and subsequently having all of your competitors calling your clients are over. Because a soft pull does not place an inquiry on a customer's credit report, your competitor's trigger leads will not be activated, and the deals you are working will be protected.
