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Wayfinder and What-if Simulator to Be Replaced by CreditXpert's New Platform on December 31, 2024
BALTIMORE, December 17, 2024 — CreditXpert, the mortgage industry’s credit optimization pioneer, is replacing its flagship tools with an all new platform that combines the best of Wayfinder and What-if Simulator.
What-If Simulator, first introduced to the mortgage industry in March of 2003, allowed mortgage professionals to model the impact of tradeline adjustments on a borrower’s credit score. In October of 2018, the company introduced Wayfinder as a means to make credit optimization accessible to all by leveraging predictive analytics to run hundreds of simulations in seconds to arrive at the optimal credit optimization plan. Wayfinder pioneered the “likelihood score” which shows mortgage professionals the precise likelihood of a borrower reaching a target score.
Over the years, these tools have helped millions of borrowers qualify for a mortgage, lower interest rates and access better loan programs. The company helps bring transparency to mortgage credit by analyzing more than 60% of all mortgage inquiries.
“The decision to sunset Wayfinder and What-If Simulator was really driven by market demand,” said CreditXpert CEO Jim Hemmer. “Today’s top originators kept asking for a more advanced platform that would allow them to scale their credit optimization programs. Top on their list was the ability to build precise and trustworthy three bureau plans with the click of a button. This helps originators recommend the most efficient plans to their borrowers while limiting rescores on the back end.”
The new CreditXpert platform is connected to and supported by all credit reporting agencies. Hundreds of mortgage lenders and more than 50,000 mortgage professionals are already connected to the new platform.
“We are very pleased with the transition to the new platform and our team has done an outstanding job onboarding lenders big and small. Just last week we successfully onboarded a top 5 lender with over 6,000 mortgage professionals,” said Hemmer. “And as we had hoped, plan generation is strong with some lenders producing three times their monthly subscription.”
If you are a mortgage originator that currently accesses CreditXpert’s Wayfinder or What-If Simulator through your credit reporting agency, you must upgrade to the new platform by December 31, 2024. You can get started at https://creditxpert.com/upgrade/
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The enterprise-ready SaaS platform helps mortgage lenders attract more leads, make better offers and close more loans.
What happens to Wayfinder and What-if Simulator after October 1, 2024? CreditXpert has traditionally been distributed through Credit Reporting Agencies (CRAs) and accessible to mortgage professionals as they order credit and verification services. Starting October 1, 2024, Wayfinder and What-if Simulator will be sunsetted and no-longer available for purchase through CRA’s. Instead, the new CreditXpert platform will be offered directly through CreditXpert.