floify soft credit pulls

Automating Credit Report Pulls in Floify

Automating Credit Report Pulls in Floify

Floify makes it easy for origination teams to automatically pull a borrower’s soft or hard credit report immediately after the submission of a Floify 1003 loan application.

This functionality ensures that loan originators can access the important benefits of a soft credit report – initially qualifying a prospect for a lower upfront cost without opening the credit window for competitors – while still taking full advantage of the efficiency-boosting power of Floify’s automation engine.

For time-crunched loan originators, the automation allows them to focus their efforts on initiating contact with the prospect, building the relationship, and securing the deal.

Taking Advantage of Credit Automation in Floify

soft credit automation configuration

Soft credit reporting in Floify works exclusively in conjunction with Floify’s 1003 loan application, which also provides the same automation configuration possibility for hard credit report pulls.

When a prospective borrower reaches the final stage of their loan application, a loan originator can require the prospect to provide authorization for the LO to pull their soft credit report before the prospect can submit the application.

Once that authorization is given and the application submitted, Floify will utilize the LOs pre-configured credit reporting integration to instantly pull the prospect’s soft credit report.

Ambitious mortgage lenders can take their level of automation a step further if desired and utilize Floify’s automatic document request functionality to dynamically create the initial needs list for their prospect using business logic.

Based on the LO’s workflow and needs, these powerful features provide a number of ways to simplify and speed up the origination process for both lender and borrower.

Credit Integrations Supporting Automated Soft Pulls

Of Floify’s huge library of credit reporting integrations, two dozen of the most popular CRAs are now configured to support automated soft credit report pulls as well as the automated or manual hard pulls that every integrated CRA can access.

Those vendors are:

  • Avantus
  • Advantage Credit
  • Alliance 2020
  • Birchwood Credit Services
  • Certified Credit Reporting
  • CIC Credit
  • CIS
  • Cisco Credit
  • CoreLogic Credco
  • Credit Plus
  • Credit Technologies
  • Credit Technology Inc.
  • CRS Credit
  • Factual Data by CBC
  • Informative Research
  • ISC Credit
  • KCB Credit
  • Premium Credit Bureau
  • Premium Credit Bureau Data
  • Sarma
  • SettlementOne
  • Universal Credit Services
  • Clear Choice Credit
  • Partners Credit

If you work with any of these CRA vendors for your credit reporting needs and would like more information or assistance with configuring your loan application to automatically pull soft credit reports, please contact Floify’s Customer Support team.

Want to Automate Even More of Your Post-Application Process?

Keep your borrowers and prospects engaged in the loan process and moving forward with their file by enabling Floify's customizable automatic document needs list generator.

Once this powerful feature is configured, borrowers can immediately begin uploading the specific documentation that their file requires once they've submitted a loan application.

Learn more here!