Need Help in Getting Your Loan Closed?
Share:
Credit Platform Delivers Hope for Sub-Prime and Alt-A Industry
TOWSON, Md., Sept. 10 / / - SharperLending, LLC, technology provider of secure, web-based lending management platforms and CreditXpert Inc., the pioneer and sole provider of comprehensive credit optimization solutions, today announced a partnership to provide resellers, lenders and brokers in the sub-prime and Alt-A industry with the most complete, advanced technology for helping consumers achieve their dream of home ownership. The partnership also aims to increase investor confidence in sub-prime loans.
"We're here to help," said Dave Black, president and CEO of SharperLending, LLC. "The current lack of investors in sub-prime mortgage-backed securities is unfortunate and is hurting a lot of people. Use of our credit platform can help brokers carefully evaluate a consumer's credit score. Focusing on this level of customer service can possibly increase the consumer credit score and can push those consumers that are at the edge of sub-prime or Alt-A over into getting better loan programs. Investors like this."
The company's credit platform offers tools that brokers can use to maximize consumer credit. The integrated CreditXpert(R) Solution Suite and the automation of bureau Rapid Rescoring can help brokers match better loans with their customers.
"By making the CreditXpert Solution Suite an integral part of the loan origination process, brokers and lenders can close 30 percent more loans, while empowering consumers to take control of their credit," said David Chung, managing director of CreditXpert Inc.
Brokers who use the CreditXpert Solution Suite, which is available in the SharperLending credit platform, can also realize the following successful results:
o 25 percent of consumers can qualify for a better loan
o 35 percent of what is normally declined can be salvaged
o 2 of 3 consumers (580-619) can move to 620 and above
o 65 percent of consumers (620-639) can jump to 640 and above
Overall, 77 percent of consumers can potentially increase their middle credit score.
The SharperLending credit platform also offers Credit Assure(TM) from CreditXpert Inc., which automatically scans every credit file and alerts brokers to the potential improvements right on the cover page of each credit report. From there, users can go directly to the appropriate CreditXpert product for detailed steps, explanation, and customized options. "Credit Assure inspects every file so you don't have to," noted Chung. "This service saves you time and money to immediately identify score changes that matter and ensures that no opportunities are overlooked," he added.
The potential improvements identified by CreditXpert tools can immediately be put into action through automated bureau Rapid Rescoring. Brokers and lenders combining CreditXpert solutions with Rapid Rescoring are especially making headway with their customers in today's time-sensitive market.
"The CreditXpert offering in SharperLending's credit platform is a huge benefit to our brokers and lenders, especially in this sub-prime crunch," said Joanne Ahmadi, owner of Huntington Beach, California-based Mortgage Fax, Inc., a credit reporting agency using the SharperLending credit platform. "Our brokers typically use CreditXpert to locate areas where borrowers can improve their score, and then we can act upon the results through automated bureau Rapid Rescoring. It's a win-win for us, for our brokers and for consumers."
"Our credit platform greatly benefits all parties involved, from the consumer to the broker, from the lender to the investor," added Black. "While we all hope that the sub-prime market trend that is occurring now doesn't continue, there are ways that we can help."
About SharperLending, LLC
Headquartered in Spokane, Wash., SharperLending, LLC, was founded in 1989 and was the first to offer a complete Web browser-based mortgage credit reporting system on the Internet. The company's proven technology has processed more than 40 million secure credit-related mortgage transactions with more than 800 million trade lines. SharperLending, LLC, has three divisions under its corporate umbrella: SharperLending Bundled Services Division, the bundled services platform; SharperLending Affiliated Credit Division, technology for the credit reporting industry; and EPN Solutions, the loan origination product packaging division. For more information, visit http://www.sharperlending.com/.
About CreditXpert Inc.
A credit management software innovator, CreditXpert Inc. revolutionizes the credit economy with solutions for making smart decisions simple by crafting friendly software solutions. CreditXpert Inc. provides highly personalized credit management tools including simulation, optimization and analysis, to help lenders make more informed decisions and close more loans. Based on a technically advanced hybrid of artificial intelligence, statistical techniques and analytical methods, CreditXpert(R) provides the most accurate predictions and the greatest explanatory power available today.
CreditXpert products and services are offered to consumers through credit reporting agencies, consumer finance information providers, brokers and lenders. By offering these valuable personal finance tools, CreditXpert helps clients increase revenue, build stronger customer relationships and retain more customers. CreditXpert Inc. has championed credit disclosure and analysis-and its benefits to both consumers and lenders-since it pioneered the first credit analysis service in September 2000. For more information, visit www.creditxpert.com/ or call 800.500.8553.
Available Topic Expert(s): For information on the listed expert(s), click appropriate link. David G. Chung http://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=39058
Source: CreditXpert Inc.
CONTACT: Jim Norman, Credit Sales Manager of SharperLending, LLC, 1-800-452-1174, CreditSales@SharperLending.com
Web site: www.creditxpert.com/
http://www.sharperlending.com/
