CIS PreQual is the perfect solution for applicants that don’t immediately qualify, or want to work toward qualifying at better terms through score improvement.  CIS PreQual saves cost and prevents a hard inquiry.  Use the CIS PreQual report to build a relationship with the applicant.  Be their credit expert by revealing the number of points they could potentially improve their score with a score-improvement action plan.  At a later date, when your applicant is ready to be moved forward for financing, access their mortgage credit report for underwriting purposes.

Prequalification reports can only be used for assessment and may not be reissued or submitted for underwriting. Applicants that meet qualification thresholds are required to provide separate authorization for their mortgage credit report, which must be used for all underwriting purposes.

CIS prequalification reports are permissibly purposed for clients licensed through the National Mortgage Licensing System (NMLS).