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Soft Credit Pulls

A soft credit pull can be run directly from the soft credit pipeline or inside a loan file under the Quick or full app tab.

Make sure that this feature is activated. To activate the soft credit pull you need to:

1. Log in to your LendingWise account.

2. Go to Loan Origination > Soft Credit Pulls (page heading Credit Screening). If it isn't active yet, click "Activate Now". Make sure to first accept terms to activate soft credit pulls.


3. You will be asked to log in to your Acqualify account. Kindly create an account if you don't have one yet.

 

 

Once activated, Soft Credit Pulls appears in the Loan Origination menu. LendingWise has one setting on this page: Score Threshold. Click **Update** to save it. The remainder of the page is Acqualify's panel, which includes the following options: - **+ New Prospect** – The "Run credit check" checkbox is selected by default; clicking Submit runs a soft pull. Uncheck it if you only want to add a prospect without running a pull. - **Quick Entry Link** – Share with prospects for quick data entry. - **Self Entry Link** – Allows prospects to enter their own information. - **Add by CSV** – Bulk-upload multiple prospects at once. A soft credit pull can also be run directly from the Soft Credit pipeline or from within a loan file under the **Quick App** or **Full App** tab. Each user type (back office, branch, loan officer, or broker) must be granted permission to use soft credit pulls. For back office users specifically, enable the **"Allow To View Credit Screen?"** toggle on their user profile. 

 

FYI: You can only run the soft credit every 30 days. So if you try to resubmit the report, you will be prompted with an error.

 

When running a soft credit pull.

  • If all information is correct and successful. You should see the following:

 

The required fields to run soft credit are: first & last name, address, phone, E-mail & Date of birth.

 

 

  • If information is not provided correctly or system cannot find information, you will receive this error message.

 

FAQs

30-60-90
 
This service does not provide output in a 30-60-90 day format. The soft credit pull returns a single VantageScore, not a multi-period credit breakdown.
I don't see Soft Credit in Pipeline?
 
Verify a manager has first enabled the feature on the account, then all other back-office users will have access to the feature.
Nothing is showing! What could it be?
 
Verify that you are using the borrower's current property address, not a previous or similar address. Entering an outdated or incorrect address is the most common reason no results are returned.
Which credit score does Acqualify use?
 
We use a VantageScore model which is typically within 20-40 points of the FICO score. We recommend setting your Acqualify threshold 40 points below your FICO minimum so that you can safely exclude ineligible prospects while not losing qualified leads.

It will only display one score as shown in the images above in this article.

Do you sell or share leads between partners?
 
We do not sell or share leads. Our business model relies on us fixing the credit of your leads and then sending them back to you to close the loan.
Forgot your password?
 

Click on this linkto reset your password or please submit a ticket via the help center. Our support team can help you find your user ID.

Why don't I see this?
 
Please make sure a manager accepts the terms and conditions. A manager will have to grant you access via the permissions set on your account. 
What is Acqualify?
 
We're a lead intelligence company that helps mortgage teams qualify prospects with ease. Access real-time credit data without impacting your prospect's scores.
 Do you provide Hard Credit reports? Yes, see this link
Will this work for the co-borrower as well? As of 2024, soft credit pulls are only supported for the primary borrower. Co-borrower support is not currently available.
 
 

If you are located outside of the U.S.A. and would like access, please email helpdesk@lendingwise.com