General
How do unnecessary hard inquires hurt your client?
When dealing with clients who are on the edge of being qualified, an extra hard inquiry can mean the difference in thousands of dollars of interest. Here is a clip of our podcast with Trent Ford, CEO of Saxton mortgage diving into how using soft ...
Do soft pulls require a social security number?
No. A social security number in the context a credit reporting is simply a unique identifier, and is defiantly one way to accurately identify someone in the credit bureau databases. Another way is through a full name and home address. This assumes ...
Can a soft pull replace a hard pull?
A soft pull can not replace a hard pull. At the end of the day, when a bank or lender closes on a loan a hard pull still must be done. Whats the point of the soft pull then you may ask? A soft pull is used at the beginning of the sales cycles to ...
How accurate are soft pulls?
The information on a soft pull is the exact same information on a hard pull. There is no difference in the underlying data; the difference is in the intent of the pull. A soft pull is used for pre-qualification, whereas a hard pull is used for ...
Are soft pulls less expensive than a hard pull?
Yes. A soft pull is generally much less expensive than a hard pull. Ready to Get Started? View Pricing & Pick Your Plan Need Assistance? Submit a Ticket or Call Us at (760) 579-6171 Access Your Account Login to iSoftpull iSoftpull (760) 579-6171 2270 ...
Do all three credit bureaus make soft pulls?
Yes. Equifax, TransUnion and Experian all make soft pulls, and a FICO® Score or Vantage Score can be added to any of them. It is actually possible to have multiple FICO® Score models appending to a single report. This is particularly use to brokers ...
Where is iSoftpull headquartered?
iSoftpull is located just outside of San Diego in the city of Carlsbad. 2270 Camino Vida Robles, Suite I Carlsbad, CA 92011 In the area? Stop by and say hi! Ready to Get Started? View Pricing & Pick Your Plan Need Assistance? Submit a Ticket or Call ...
Which credit score should I use?
It depends. If you're a broker, we would recommend asking your lender(s) which credit score they use. If your lender(s) use more than one, we will set you up with both. The reason you want to ask your lender what score model they use is so we can ...
Does a soft pull place an inquiry on the customer's credit?
No and yes. There are two types of inquiries: hard and soft inquiries. Hard inquiries are what people typically think of when they think of inquiries. They are the ones FICO uses to calculate a credit score and have a tendency to lower your score. ...
Does a soft pull set off trigger leads?
No. That is actually one of the key benefits, particularly in the mortgage and business loan industries. Because a soft pull does not place a hard inquiry on the customer's credit file, there will be no triggers activated. Ready to Get Started? View ...
What information is on a tradeline?
One tradeline (a tradeline is an account in credit bureau terms) will typically (depends on the type of account- Credit Card, Mortgage, etc.) include the following: Account Number Account Type Portfolio Type Contract Type Payment Frequency Date of ...
What information is on a soft pull?
A pre-qualification soft pull contains the exact same information as a hard pull, its just a soft pull. Data Includes: Credit Score Address History Employment History Tradelines (What information is on a tradeline? Collections Public Records ...