Automated Borrower Pre-Qualification Workflows

Optional Pre-Qualification Application Workflows

In addition to the standard URLA data-gathering tasks, your organization can enable several advanced workflows that support a self-serve pre-qualification experience during the borrower’s initial application. These workflows require valid credentials with our supported integration partners.

• VOA/VOE

• Credit Check

• Price Shopping

• AUS

Note: All of these workflows are optional during the application experience. If you prefer not to have borrowers initiate them, you can run any of these integrations separately through the Services workflows.

Talk to your customer success specialist to configure your organization workflows.

VOA/VOE

Maxwell QuickApply allows lenders to collect validated asset, employment, and income data upfront during the loan application. This removes the need for borrowers to find, scan, and send multiple statements, and it reduces the time your team spends reviewing, processing, and validating documents before submitting a file to underwriting.

Lenders who use Maxwell’s QuickApply VOA/VOE service often save several days in processing time because they receive accurate, up-to-date borrower information at the start of the application.

With VOA/VOE enabled borrowers have the option to connect credentials to their validated account and payroll providers.

Credit Check

Another QuickApply feature allows borrowers to initiate a credit pull during the application process. Maxwell prompts the borrower to provide authorization during the application, then displays their credit results and liabilities instantly.

Your organization can be configured to run a soft pull, single-bureau report, tri-merge, or a full hard credit report at the time of application, depending on your preferences.

You also have the option to collect borrower authorization during the application but have the Loan Officer manually run the credit report later after reviewing the file.

Price Shopping

Another optional feature that supports automated pre-qualification is borrower-initiated price shopping. When connected to one of our participating P&PE integration partners, Maxwell can present borrowers with a filtered list of product options they may qualify for. Borrowers can then complete an initial pricing review and select a product during the application process.

This workflow enables lenders to offer borrower-initiated pre-qualifications, creating a faster and more seamless experience.

With price shopping, borrowers can review and select an initial loan product that they are interested in.

Automated AUS Pre-Quals

When credit and pricing are enabled, your organization can offer a self-serve AUS and pre-qualification workflow. After the borrower submits their application, the system can automatically run AUS. If the results return Approve/Eligible, Maxwell can automatically generate a pre-qualification letter for the borrower.

On application submission we run AUS behind the scenes.