has announced the launch of Txt2Qual–a mobile-based tool that generates leads for lenders by providing an applicant’s prequalification status and contact information automatically. Txt2Qual gives lenders a full credit profile and FICO scores using a soft pull of credit, reducing out-of-pocket expenses and it won’t impact the applicant’s credit score or trigger competition.
“The market is in transition right now and lenders are in need for better lead-generating solutions,” said Renae Sherman, Informative Research’s VP of Business Development and Innovation. “We’ve responded to this demand and created a new tool that automates one of the most difficult steps in the loan process.”
Using Txt2Qual, lenders can customize credit and underwriting criteria to target qualified leads and mortgage-ready borrowers. Txt2Qual also allows lenders to automatically match each applicant to the best loan option and can prioritize which applicants to call first with IR’s Txt2Qual interface.