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Top originators rely on CreditXpert to help identify borrower credit potential and generate precise credit optimization plans
Baltimore, MD, August 15, 2024 — CreditXpert, the predictive credit optimization platform that helps mortgage originators expand homeownership opportunities, reports that more than 60% of all mortgage credit inquiries are being analyzed by the company’s proprietary software.
Highlighting Something that Most Consumers Don’t Know
“Since the company’s founding in 2001, we have steadily grown our reach in the mortgage industry by highlighting a borrower’s credit potential on credit reports. The borrower’s credit potential helps mortgage originators see how much a borrower could increase their score in just 30-days,” said Jim Hemmer, CreditXpert CEO. “Having our Credit Assure product on more than 60% of all mortgage credit reports brings us closer to our goal of ensuring that every borrower has an opportunity to optimize their credit score at the time of origination.”
According to a study of recent and prospective homebuyers conducted by CreditXpert in 2023, most believe that they cannot improve their credit score in the short run. That said, CreditXpert’s Mortgage Credit Potential Index (MCPI) shows that 70% of mortgage borrowers could improve their score by at least 20 points in just 30 days. For those looking to become homeowners for the first time, 53% with initial scores below 580 could qualify for an FHA or even a Conventional loan within the loan origination cycle. And in a high-interest rate environment, the MCPI shows that 70% of those who have qualified for a Conventional loan could lower their rate and other cost drivers like private mortgage insurance and LLPAs.
The New CreditXpert SaaS Platform Helps Originators Offer Credit Optimization to All
“We’re also seeing that today’s most sophisticated, borrower-forward originators are embracing CreditXpert’s new SaaS platform. CreditXpert is becoming a must have tool for those originators seeking a competitive advantage in this high-rate environment,” said Hemmer. “I am excited to announce that we are working with 10 of the top 15 mortgage originators and 100% of the top 20 independent mortgage banks.”
“I am excited to announce that we are working with 10 of the top 15 mortgage originators and 100% of the top 20 independent mortgage banks.” — Jim Hemmer, CEO, CreditXpert
“Highlighting a borrower’s credit potential is the first step in helping them reach a target score. Our new SaaS platform released in 2023 is replacing our popular Wayfinder and What-If Simulator products and was designed to make generating a detailed credit optimization plan as simple as clicking a button,” says Renata Sheyner, CreditXpert’s VP of Product. “We have spent years working directly with originators to make it easy for them to integrate credit optimization into their workflows and the New CreditXpert SaaS platform does just that.”
The company’s new SaaS platform runs hundreds of simulations on a borrower’s credit file to land on a recommended plan to reach a target score. The simulations are generated through CreditXpert’s proprietary predictive analytics platform that has been trained and refined on more than 1 billion credit records. Every plan generated by the New CreditXpert shows the mortgage originator the likelihood of reaching a target score and details the precise steps a borrower must take to achieve that score.
“We are excited to have so many of today’s most sophisticated mortgage originators on our secure SaaS platform as it will allow us to rapidly deliver innovative solutions that will make it easier and more efficient to offer credit optimization to more borrowers,” said Sheyner. “These are truly exciting days for us here at CreditXpert. In the past month alone, we have held on-site workshops with top originators that are driving the mortgage industry forward.”
About CreditXpert
CreditXpert, the predictive credit score insight platform, helps mortgage lenders leverage credit to extend better, more compelling financing options to every applicant while it helps them improve profitability in their lending operations. With its enterprise-ready SaaS platform, CreditXpert helps lenders identify an applicant’s near-term credit score potential, generate detailed optimization plans and improve margins.
Founded in 2001, CreditXpert 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 optimization to make homeownership more accessible and affordable for all.
www.creditxpert.com
Related Credit Insights
The enterprise-ready SaaS platform helps mortgage lenders attract more leads, make better offers and close more loans.
For mortgage professionals, there's nothing more frustrating than turning away clients who don't qualify. They share promising stories about their credit history, income, and assets, but when the documents arrive, the numbers tell a different tale. The disconnect often stems from consumer-facing credit scores that paint an incomplete picture, failing to align with the strict requirements of mortgage credit scoring.
But what if these clients didn't have to walk away? What if there was a way to transform a "no" into a "not yet" and keep potential homebuyers in your pipeline? Credit optimization emerges as a game-changing solution, offering immediate, actionable steps to improve credit scores and qualify for mortgages.
The traditional approach of asking clients to try again in six months or suggesting they continue renting leaves both parties empty-handed. In contrast, credit optimization provides a structured path forward. An impressive 73% of borrowers can boost their credit score by 20 points or more in just 30 days using targeted optimization strategies. This isn't about overnight miracles—it's about leveraging data-driven insights to make strategic credit improvements.
For loan officers and real estate agents, credit optimization isn't just about helping clients—it's about building a stronger business. Better credit scores lead to lower interest rates, higher loan amounts, and more options for borrowers. For lenders, it means presenting lower-risk applicants to investors. For agents, it means keeping potential buyers in the pipeline instead of losing them to the rental market.
The beauty of credit optimization lies in its versatility. Whether working with someone who barely missed qualifying or a borrower seeking the best possible terms, the process can benefit anyone looking to maximize their borrowing potential while minimizing costs. In an industry where relationships matter, being the professional who helps clients achieve their homeownership dreams—rather than simply turning them away—creates lasting value for everyone involved.