Pre-Qualified Leads, No Borrower Disclosures
ReadyQual is a prequalification tool for lenders to put on their web site. With ReadyQual, lenders know instantly if they should move a consumer into a full loan app or not.
ReadyQual helps lenders pre-qualify more consumers with soft inquiry credit reports and without the need for disclosures. How? Because ReadyQual is not a loan application. It gathers consumer name and address, lets the consumer choose which financial product they're interested in, then orders a single-bureau, dual-, or tri-merge soft inquiry credit report with score.
Description and Features
ReadyQual is a simple-to-use, smart web page that lenders place on their web sites to turn more consumers into borrowers. Realtors can drive potential clients to ReadyQual-enabled lender sites and get prequalification notices from lenders in moments.
When used by consumers, it orders and delivers a single-bureau credit report and FICO score. ReadyQual posts a soft-inquiry to the credit bureau so the consumer's score is not impacted.
What do you mean "No Disclosures"?
One of the key benefits to lenders is that the disclosures that would normally need to be delivered (TRID and FCRA disclosures) on a full loan app are not required. This is because, as a pre-qualification tool, ReadyQual does not fall under the definition of a loan application.
Save yourself the time and hassle of not having to disclose an offer of credit when the consumer doesn't prequalify.
Offer More with ReadyQual
Lenders: Be your local Realtors' preferred source for prequalifying borrowers by generating higher quality leads than your competitors.
Resellers: Add ReadyQual to your suite of credit products by private labeling it and offering ReadyQual as your brand.