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CreditXpert Wayfinder – Overview Demonstration
CreditXpert Wayfinder is going to search for common credit management actions that have the most reliable way to obtain the score that’s being sought on that bureau. So in this particular case, Experian has a 631. I’m going to simply select the score target for Experian. In this case, I’m going to select 640+ Wayfinder is going to look at paying down debt, maybe charging a small amount, opening new accounts, or canceling authorized user accounts. It’s gonna evaluate the plans available and serve up the most reliable cost effective plan to obtain the target that’s being sought. In this case, it’s 97% likely to succeed. It requires zero debt reduction, includes canceling one authorized user account. Sounds pretty good. I’m gonna view the details, provides the instructions specific for Ashley telling her how to cancel access as an authorized user on that Citi account.
In addition, tells her what other actions to avoid during this time period, and then for provides instructions for the loan originator on what to carry out in the rapid rescore process. It also gives a little bit of information about why this plan is expected to improve the score. If you don’t like the plan that’s being served up here by default, you have the ability to refine the plans that are being sought. We can change score goal. So maybe we wanna get her to a 660 or a 680. We can change the cash limit. So maybe the plan uses $2,000 and Ashley doesn’t have that much cash to reduce her debt. You can reduce that amount and have it serve up a different subset of plans. We can change a timeframe if you don’t intend to carry out a rapid rescore, you intend to wait for that information to report naturally during the next month, we can change it to select that. And it serves up a different plan. In this case, it means that it’s a little bit less likely to succeed. So in more cases than not, there’s something expected to happen during the next month, that’s gonna have a slight negative impact on Ashley.
You can limit the number of actions. So if a plan’s being served up that maybe gives changes on three or four accounts, you only have the ability to carry out a rescore on maybe two accounts you can limit. The number of that are served up in the plan. You can start over at any time. Let’s just take another look here on Experian. Let’s assume we’re going after a 660, it’s telling us, the plan for a 660 is going to require $381 in debt reductions, canceling one authorized user account and paying down three. We can go ahead and take a look at the details and it provides a specific instructions for each account for Ashley and again, the instructions for the loan originator on what they need to do to carry out a rapid rescore. And that’s a high level overview of CreditXpert Wayfinder.
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