BeSmartee enhances its Mortgage POS solution with its Soft-Pull Credit feature to help lenders reduce costs.
HUNTINGTON BEACH, Calif., July 18, 2023 /PRNewswire-PRWeb/ -- BeSmartee, a lendtech firm and founder of the modern digital mortgage, is excited to announce that ~30% of the company's Mortgage Point-of-Sale (POS) client base has chosen to adopt the Soft-Pull Credit feature. The addition of the Soft-Pull Credit feature empowers lenders to effectively reduce costs while delivering an exceptional customer experience.
BeSmartee's primary goal is to equip lenders with the power of data automation and streamlined processes, enabling them to offer an unparalleled level of service while driving down expenses.
Traditionally, lenders have been burdened with the high costs of hard credit pulls, a result from increases in pricing from the FICO scoring model. These costs range from $38 to $62 per transaction. However, with the newly integrated Soft-Pull Credit feature within BeSmartee's Mortgage POS solution, lenders can now significantly save on expenses, paying as low as $7 to $14 per transaction.
BeSmartee's configuration seamlessly performs a soft-pull and, if the consumer's soft-pull meets minimum eligibility requirements, automatically upgrades it to a hard pull. Additionally, the soft-pull can be leveraged to enable or suppress costly verifications such as VOA or VOIE, ensuring that lenders avoid unnecessary verification expenses.
"We are thrilled to introduce this game-changing enhancement to our Mortgage POS solution," said Tim Nguyen, CEO and Co-founder of BeSmartee. "By empowering lenders to leverage soft-pull credit, we are not only reducing their operational costs but also enabling them to streamline their processes and deliver an exceptional customer experience."
The Soft-Pull Credit feature offers a seamless and efficient way for lenders to access credit information, enabling a faster and cheaper 3-minute pre-qualification, as well as eliminating the need for expensive hard credit pulls during the origination process. This enhancement is a testament to BeSmartee's commitment to innovation and revolutionizing the mortgage industry.
To learn more about BeSmartee and its Mortgage POS solution, visit https://www.besmartee.com/.
About BeSmartee:
BeSmartee powers $25B+ in digital lending transactions every month, for some of the world's largest lenders by delivering on its brand promise to always be innovative, configurable and reliable. BeSmartee's digital lending solutions use the automation of data and processes to achieve maximum operational efficiencies and competitive advantages for banks, credit unions, independent mortgage bankers, and commercial lenders. Partner with BeSmartee and join 150+ lenders who rely on us to achieve an easy, fast, and transparent digital lending experience.
Visit https://www.besmartee.com/ to learn more.
Media Contact
Sabrina Park, BeSmartee, 8885198881 x729, [email protected]
SOURCE BeSmartee
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