[brokerCompany]

When a funder pulls soft pull what do they actually see?
Score or detailed debts and balances? Lates pays etcc..?

[dfite]

They see a decent amount. It is pretty easy to price out a deal on a soft pull.

[brokerCompany]

They see a decent amount. It is pretty easy to price out a deal on a soft pull.

Yeah you answered nothing

[swiftcloser]

.....

[matt.reiser]

There is no difference between a hard and soft pull when it comes to the actual credit history. The only difference is that hard pulls affect the credit score for 12 months; where a soft pull does not.

[Kevin Henry-Seacoast]

The hard pulls are usually done in Jupiter, FL...soft pulls...Miami

[harvey]

no difference actually think experian is making all mca shops go to soft pulls

[abfunders]

There are legal laws with regards to extending loans and the Fair Credit Reporting Act. Soft pulls are for preapprovals and hard pulls with respect to a specific credit application. So Bluevine and Fundbox both do a soft pull for preappoval and hard pull once he makes his first pull. I do not know the rules behind MCAs.

I hate it when I see an otherwise incredible client with fantastic credit who is no longer bankable and credit basically was ruined because he trusted one broker who shopped him around with an email blast.

I am not a lawyer, and I don't even play one on TV.

[FundingTap123]

Chrome Capital does not pull credit until doc requests - and credit is used to verify name and addresses - not to consider the score or history.

[fromano590]

You see everything except liens and judgments. You can lookup judgements against the business/person on webcrims for NY because all COJs are always filed in NY anyway.

Also the score is usually like 20 points off.

[swiftcloser]

....

[RichardGerard]

We do soft pulls and UCC checks before we send clients out to our Partner Banks. We see the entire credit file- open/closed accounts, inquiries, balances- times 30 days late etc.

If you know what you're dealing with it expedites the process- and the clients do not get blasted.

They do NOT show tax liens- that's why Lenders have clients fill out tax transcripts