Welcome To MFI Soft Inquiry
MFI Soft Inquiry is a prequalification tool to turn consumers into borrowers faster! MFI Soft Inquiry or MFISI helps lenders qualify more borrowers across more demographics, including millennials! With or soft inquiry credit reports you will not need a TRID disclosure. MFI Soft Inquiry is an easy to use, online software application for lenders to put on their website and help garner more business faster.
As a prequalification tool, MFI Soft Inquiry only requires the prospects name and address, so it moves applicants quickly through the process. We then feed this information into the system instantly. Turm pre-qualified consumers into full loan applications with MFI Soft Inquiry.
- MFI Soft Inquiry reduces cost and brings lenders more qualified leads
- MFI Soft Inquiry reduces application fallout rate
- MFI Soft Inquiry doesn’t impact Borrower score because it uses a soft inquiry
- MFI Soft Inquiry requires no firm offer of credit
- MFI Soft Inquiry does not require declination letters or risk based pricing notices
Technical Description and Product Features
MFI Soft Inquiry is a simple-to-use, smart web page that lenders place on their web site to turn consumers into borrowers. When used by consumers, it orders and delivers a single-bureau ExperianTM credit report. It posts a soft inquiry to the bureau so the consumer score will not be impacted. The returned credit report cannot be used as an application for credit, meaning that you will need to order a full hard-inquiry report when the borrower is ready to fill out a full loan application. The benefit is that the disclosures you normally would need to deliver (Risk Based Pricing notice, Declination letter) are not required. So you save yourself the time and hassle of not having to disclose an offer of credit when the borrower doesn’t prequalify.
- MFI Soft Inquiry posts to Experian as a soft inquiry
- MFI Soft Inquiry allows you to enter your own criteria for prequalification
- MFI Soft Inquiry is fully private label friendly: your brand, your name, nothing else
- MFI Soft Inquiry lets you enter a customized message to the applicant
- MFI Soft Inquiry instantly texts loan officers the applicant information
- MFI Soft Inquiry generates links that you can provide to customers such as auto dealerships and realtors
Turn Consumers into Borrowers Instantly with Names Texted to Your Device
When consumers use MFI Soft Inquiry, loan officers instantly receive a text message, letting them know that they have a lead to reach out to. Loan Officers know the borrower name, address, email and phone number immediately. In this high-touch world of text messaging, nothing shows millennial borrowers quality service like instant responses.
MFI Soft Inquiry Management Console
Private Branded Web Links
MFI Soft Inquiry delivers customized web links to you per user, allowing loan officers to present products and services directly to borrowers. LOs can promote their sales efforts further by putting the links to their MFI Soft Inquiry page on local business web sites such as car dealerships, home improvement centers, realtors, and more.