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CreditXpert Announces the Launch of a Next Generation Credit Score Insight and Analysis Platform for Mortgage Lenders
BALTIMORE, Oct. 11, 2022 (GLOBE NEWSWIRE) — CreditXpert, the predictive credit score platform that helps mortgage lenders extend better, more compelling financing options to every applicant announces their next generation SaaS platform for mortgage lenders. Covius, a leading provider of tech-enabled solutions to the financial services industry, will be the first credit reporting agency (CRA) to integrate with CreditXpert through its proprietary FundingSuite platform. CreditXpert’s latest offering will help lenders boost efficiency with AI, quickly compare improvement plans, track applicant progress, and manage usage through a cloud-based dashboard.
“In a competitive market, helping applicants qualify for a mortgage, land on the most appropriate loan program and qualify for the lowest interest rate is more important than ever,” said CreditXpert CEO Jim Hemmer. “This is precisely why we built this new platform. We knew it was important for our powerful predictive tools to operate within fast-moving production environments where lenders are aggressively competing for business. The team worked with lenders to reimagine the experience of identifying credit potential, generating improvement plans and tracking applicant progress while adding a core suite of enterprise management tools.”
CreditXpert’s new platform helps lenders in four ways:
- Easily see the credit potential for EVERY applicant. More than 70% of mortgage applicants with initial scores below 760 can increase their score by at least 20 points within a 30-day timeframe. In a competitive market, it’s important for lenders to have a quick and easy way to identify an applicant’s potential and generate a data-driven improvement plan.
- Boost efficiency with powerful AI that highlights underwriting blockers and identifies changes between credit pulls that may have contributed to a change in an applicant’s credit score. By identifying potential barriers and changes early on, lenders can work with applicants to resolve issues before the application gets to underwriting.
- Share improvement plans with applicants and automatically track their progress. With a single click, lenders can send a detailed, interactive improvement plan to an applicant. As applicants mark tasks as complete, the lender dashboard is automatically updated eliminating the need to manually track status. Lenders can also set up automated reminders for their applicants or check-in if they see an applicant isn’t progressing quickly enough.
- Manage users, groups, and branches through a single dashboard. Lending operation leaders can now easily add and remove users while tracking usage at the individual and group level. More advanced enterprise reporting and analysis tools will be added to the platform in the coming months.
The new CreditXpert platform has been a true collaborative effort between CRAs and some of the most forward-thinking lenders. While Covius will be the first CRA to connect credit data to the platform, others will be joining in the coming months.
For more information about the new CreditXpert platform and how it can help your institution win more business now, visit the company online. www.creditxpert.com/enterprise
CreditXpert, the predictive credit score insight platform, helps mortgage lenders leverage credit to extend better, more compelling financing options to every applicant. With its enterprise-ready SaaS platform, CreditXpert helps lenders identify an applicant’s near-term credit score potential, generate detailed improvement plans and boost efficiency with AI.
Founded in 2001, CreditXpert has analyzed nearly 1 billion credit pulls and is used by more than 60,000 mortgage professionals annually at many of today’s most innovative lenders. CreditXpert is redefining the way leading mortgage lenders use credit to make homeownership more accessible and affordable for all.
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