nCino, Inc., the platform for agentic artificial intelligence (AI) banking, announced LeadGen PreQual, a new capability within its mortgage point of sale solution, which lets borrowers receive a credit-backed prequalification letter from their phone before they ever create an account or fill out a loan application with their lender.
“Borrowers today expect the same immediacy from their lender that they get from every other financial service they use,” nCino General Manager of Global Mortgage Casey Williams said in a release. “LeadGen PreQual meets that expectation at the moment it matters most, giving buyers a real answer about what they can afford from their phone before they ever step into a lender’s office.”
Most lenders still require borrowers to create an account and complete a full application before receiving any indication of what they can afford, a barrier that often leads to borrower abandonment.
To capture borrower interest earlier, many lenders have deployed lightweight forms that solicit basic financial information such as income and target purchase price. But because the responses are unverified, those forms produce a soft lead rather than a credit-backed assessment of borrower capacity.
With LeadGen PreQual, a borrower completes a short, mobile-optimized form and with their consent, a credit check runs automatically to gain early insights into whether a conventional loan may receive an Accept risk class from Freddie Mac’s Loan Product Advisor, including determination if the loan is eligible for an automated collateral evaluation appraisal waiver. Based on the assessment results, credit information and the information from the form, the borrower may be able to immediately generate and download a prequal letter.
LeadGen PreQual is part of nCino’s Agentic Homeownership Journey, the AI-powered experience delivered across the mortgage lifecycle. Features include flexible credit and verification options, lending branding and seamless profile continuity if the borrower later creates a loan application using the same email address.