Lenders may now readily get tri-bureau data from a single source without affecting the customer's credit score.
Fremont, CA: FPN, founded in 2012, is a leading provider of customized data intelligence technologies with an emphasis on long-term, mutually beneficial collaborations. From simple to sophisticated, the FinTech firm's data-driven solutions help organizations manage their client lifecycle while addressing the market's expanding needs. IDIQ, one of the fastest-growing industry experts in identity theft protection and credit report monitoring, purchased FPN's direct-to-consumer business channel, including Resident-Link, in early 2022.
"Studies show most consumers move forward with the first lender they submit their application to, which makes it more important than ever for lenders to produce offers quickly. Our software makes it easy to pull data from all three bureaus, select qualifying criteria and submit offers instantly, whether online, in person or over the phone," said Ryan Moore, COO of FPN.
FPN's PreQual, a tri-bureau loan prequalification solution, is now available to lenders across all sectors in the United States. PreQual's fully customizable solutions use data from Experian, TransUnion, and Equifax to provide a quick and easy way to prequalify applicants without affecting their credit score.
Lenders may now provide a wider range of offerings more quickly and confidently. In addition, lenders may generate rapid and accurate results, including FICO and VantageScore credit ratings, by utilizing FPN's enhanced soft-inquiry capabilities.
FPN's specialized solutions fit seamlessly into existing software systems without affecting operations. Partners can use basic iframes or more advanced API connections to give knowledge across the entire client lifetime. PreQual can be used as a stand-alone product or as part of a larger strategy that includes other products, such as FPN's Prescreen and Account Review, which serve a different acceptable purpose than the prequalification product.
