American Credit Systems

Frequently Asked Questions

We've compiled a list of frequently asked questions regarding soft credit checks and our software, both industry specific and general information to assist you in knowing how iSoftpull benefits your business.

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Do I need consent for a soft pull?

Yes, although iSoftpull delivers a pre-qualification soft credit check, your customer's consent is still required. Consent can be acquired on a traditional paper application with a wet ink signature, online through a digital application, or verbally if the phone call is recorded. iSoftpull's website integration enables even the smallest of companies to acquire online consent and capture more leads. Learn More


But I thought soft pulls didn't require consent?

It depends. Some do, some do not. A batch prescreen does not require consent. However, a pre-qualification soft pull where you receive the entire credit report does. A batch pre-screen is used when credit card companies send out pre-approvals for credit cards; they use a pre-screen, don’t send out an entire credit report, and require you to send a firm offer of credit.

What information is on the iSoftpull credit report?

iSoftpull provides the exact same information as found on a hard pull: a full credit report and FICO score.


Request a sample soft pull here.

Can I get only the score?

iSoftpull provides the exact same information as found on a hard pull: a full credit report and FICO score.


Request a sample soft pull here.

Can I only get the score?

Yes, but we deliver the entire report for the same price.

How accurate is the report?

It is accurate, real-time data directly from the bureaus. Even if it was changed an hour earlier, the data would still be reflected in the new report.

Can I give the customer their credit report?

No, you cannot share the credit report with the customer. 

Can I share the report with my affiliated companies?

No, only the company pulling the report can consume the data. You may not share it with the customer nor any third parties. Once your affiliates learn you are only sending prequalified customers to them, there will be less need for them to potentially see a credit report from you.

Is a home/virtual office okay?

Only if you're a mortgage broker and your NMLS number is registered to your home. Otherwise, you must have a commercial location that does not share space, with locked doors and a separate and secure data network. 

Is an executive suite okay?

Yes, since you have a locked door on it and do not share it with anyone.

What is a permissible purpose?

In layman's terms, a permissible purpose is the reason you are pulling the credit report. For example, an insurance company would be pulling a credit report to see all the trade lines and information for insurance underwriting. A car dealership would be pulling credit to determine financing options on a vehicle purchase.

What permissible purpose can use iSoftpull?

iSoftpull is strictly used for financing and lending. iSoftpull reports are used to determine credit worthiness in advance of the point of extending financing.

What documents do you need from me when I sign up?

iSoftpull is strictly used for financing and lending. iSoftpull reports are used to determine credit worthiness in advance of the point of extending financing.

How long will it take to get active?

Once all your documents have been received, the turnaround time is typically 4-5 business days.


What takes place at the onsite inspection?

An onsite inspector is sent out to your office to verify you have an office with locked doors, a locking file cabinet, a paper shredder, a secure data connection, and signage in the name of your business.

Do you integrate with my CRM?

We do integrate with several LOS and CRM providers, please let us know which you utilize.

What data can you send to my CRM?

Any information input through our form that can be embedded on your website. We can send that data to your CRM through an ADF email alert. Any exact credit data can only be integrated with a CRM or LOS that maintains premier compliance certifications. 

Can I see the credit report in my CRM?

Depending on your CRM or LOS, there may be an integration possible.

Can I get an API?

Yes, we have API’s. 

Can I check Military Lending Act Status on a soft pull?

Yes, you can.

Do you have a fraud protection product I can check the identity of the customers?

Yes.

Industry Specific Information:

Mortgage
Business
Solar
Auto

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We pride ourselves in customer service. Please submit the form at the top, check your email, and we will be in contact with you shortly. If you require immediate assistance, please feel free to chat with us in the chat window below, or alternatively call us at 760-249-2750. Representatives are typically always available.

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