You can suppress your own tri-merge credit inquiries so you don't receive alerts for your own applications in process.
Our inquiry alerts let you know when your client has pulled their credit with a competitor, helping you earn their business back. However, when Experian sends us this information, they do not include which company the client pulled their credit with (this prevents companies from unfairly targeting another company’s clients).
With the information that Experian sends us, MonitorBase will not be able to know whether your client’s loan application was with you at your company, or with a competitor. In this case, you can choose to suppress any inquiry alerts for credit that you’ve pulled yourself! Because we send out the marketing letter with the firm offer of credit to your client, this might be confusing to your client if they just applied for a loan with you. Suppression can happen one of two ways: manually or automatically.
Manual suppression can be done by going into the alert in MonitorBase, clicking on “Select Status” in the “New Note” section:
..then scrolling down in the drop-down to the bottom and clicking “I pulled this credit myself.”
Save the note, and the suppression will be applied: the letter with the firm offer of credit will not be sent, and if you suppress that before 10 AM MT on the day you receive the alert, the email with the firm offer of credit will not be sent, either!
Automatic suppression means that we set up an integration using an API that feeds MonitorBase information from your LOS or CRM. This means that MonitorBase will be able to know through the information that you’ve put into your other systems that your client has applied for a loan with you, and the system will automatically suppress the alert and you will never see it. Your client will also not receive an email or letter with the firm offer of credit.
Talk to Sales if you would like to set up an integration with MonitorBase and your CRM!