July 21st, 2023, BY PRMG MARKETING

PRMG has been recognized as one of the first mortgage companies to use soft credit solutions with Automated Underwriting System (AUS) inside of Blend’s best-in-class cloud banking services technology. PRMG is also celebrating their one-year anniversary of pioneering the tri-merge soft pull with AUS functionality.

In a recent Business Wire press release, Blend explains how PRMG maximizes Soft Credit Functionality. This is a significant savings for lenders and provides a noteworthy increase of application conversions. They asked PRMG’s Chief Lending Officer, Kevin Peranio, to explain the impact this new technology has had directly on loan officers in the origination process.

Kevin Peranio describes that prior to this launch, PRMG relied on tri-merge hard credit pulls early in the origination process. He explained that the setback of this practice was that if the borrower chose to not move forward with a loan, the cost of the credit pull would fall back as an expense for PRMG. He states that with “Blend’s soft credit solution, you’re defending your time, your money, your borrower’s experience, and your loan pull-through.”

While lenders such as PRMG can save up to 71% on credit pulls after the adoption of soft credit solutions, borrowers also benefit from this capability. CEO of Market Wise Advisors, Jordan Brown, details the transparency that results from the soft pull, creating “informed consumers that can make better choices.”

Britt Stenstrom, who oversees Digital Lending at PRMG, reflects on their goal for the ‘tri-merge’ soft pull was “to be able to put our clients first by not only being able to pre-approve them to purchase a home with a complete profile, but at the same time not overwhelm them at the beginning stages of their homeownership journey.” Furthermore, Stenstrom indicated PRMG has been able to maximize this technology for the past year, which she describes as “a powerful platform that creates significant efficiencies in our branches’ workflow while realizing tremendous cost savings. This capability is also extremely powerful for our loan officers, referral partners and clients.” 

PRMG has always been “all in” on providing the best technology for their loan officers and borrowers to make the process of loan origination as efficient as possible. Blend has proven to be a key part of this goal, providing revolutionary technology within industry that creates significant efficiencies in workflow and tremendous cost savings.

Co-founder and head of Blend, Nima Ghamsar, wrapped up the article naming PRMG “a frontrunner in adopting best-in-class lending technology.” PRMG looks forward to continuing to utilize the strengths of Blend’s platform, providing loan officers and borrowers with the best credit pull experience possible.

Over the years, PRMG has established a very solid footing as one of the nation’s most innovative and fastest growing, multi-channel lenders in the mortgage space. PRMG boasts some of the best Martech in the business. We know the importance of technology, how it integrates with our systems and platforms, and how to leverage it for our originators and business partners to deliver best in class service!

Click Here to view full article published by Blend


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