PreQual Credit Report

PreQualPro quickly and accurately qualifies the validity and accuracy of loan leads by analyzing a property’s collateral value against the client’s value estimate. This effective workflow prioritization tool determines which leads have a higher probability of closing at the client’s value estimate. The streamlined qualification process helps originators and brokers more efficiently manage time and cost, significantly increasing pull-through rates and decreasing costly fall-outs.

An automated collateral pre-qualification tool, PreQualPro provides you with a value, value range and probability rating that helps determine the accuracy of a client’s value estimate. This information provides loan officers, account executives and brokers with the clearest possible indication of whether a 1004 or automated valuation model (AVM) will conclusively support the customer estimated value if the origination proceeds.

PreQualPro streamlines workflow and optimizes loan prioritization by quickly determining which leads have the highest probability of closing. Pull-through rates are increased, reducing resource-wasting fall-outs.

Leverage Probability Ratings

By providing lenders with a loan value probability rating to complement a property value and value range, PreQualPro arms loan officers and account executives with the ability to ask questions for easily determining whether to proceed with the loan. For example, if the probability rating warrants caution, questions can be asked about the property to understand the disparity between the customer-estimated value and the collateral value range.

Right Tool. Right Job.

Because PreQualPro is designed to be used during the pre-qualification process, it is the most cost-effective tool to efficiently prioritize client-lending opportunities. PreQualPro not only eliminates dependence on a borrower’s estimated value, based on their own understanding of the constantly fluctuating housing market, but it offers a faster, easier-to-use alternative to other existing valuation validation methods.

In addition to a value, range and probability estimate, PreQualPro lists a property’s nearby sales for review. Actual sale prices (not MLS list prices) are provided and take into consideration nearby sales and market activity, helping to identify artificially inflated markets that a more costly AVM might support.

Reliable Data and Analytics

CoreLogic’s database is updated daily with the latest information you need such as comparable sales, property valuations, household demographics, neighborhood analyses, school information, crime records, flood data, appraisal data and other proprietary and supplemental information. We provide the mortgage banking industry with the most innovative, powerful and comprehensive set of mortgage risk management

and fraud detection tools in the marketplace today. Our technology enables mortgage originators and investors to increase profitability and loan quality by making more informed lending and investment decisions. Financial institutions throughout the United

States utilize our suite of tools to streamline their workflow and mitigate losses.

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With PreQualPro, users benefit from:

  • Reduced loan origination costs by shifting to a more accurate, less costly means of verifying customer-estimated values
  • Streamlined workflow, which enables lenders to process the “highest probability” loans first
  • Increased pull-through rates, enabling increased production capacity

Sample Analysis:

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