Intelligent Software Generates Precise Plans of Action to Raise Credit Scores

BALTIMORE, Nov. 06, 2018 (GLOBE NEWSWIRE) -- CreditXpert Inc., the leading credit analysis and management solutions provider, today announced the release of its new mortgage software solution, CreditXpert® Wayfinder™. The new release by CreditXpert, whose software is used by many of the top 10 mortgage originators, automatically runs through hundreds of options to find the best combination of actions borrowers can take to improve their credit scores. The result: Mortgage loan originators (MLOs) can develop a solid plan without being an expert. 

“In today's market, lenders are facing diminishing loan volume and low pull-through rates. CreditXpert Wayfinder gives lenders the edge they need to thrive and not just survive,” said Dave Chung, co-founder and managing director of CreditXpert Inc. “With CreditXpert Wayfinder, MLOs don’t need to be experts to educate borrowers with high confidence on how to improve their credit scores to the level required for a loan program or pricing. CreditXpert Wayfinder does the heavy lifting to consistently help credit-challenged borrowers achieve the American dream of home ownership.”

CreditXpert Wayfinder offers a way to achieve an average 27-point credit score improvement for clients and a 30+ point improvement for over half of clients with scores below 640.

With CreditXpert Wayfinder, MLOs are able to:

  • Close more loans: Wayfinder helps MLOs more easily close borrowers who have fixable credit issues, getting them into a better credit score category so they get a more desirable rate for a more affordable loan.
  • Protect referral relationships: Instead of deferring referral sources’ customers' loans, MLOs are empowered to give borrowers a path toward a higher credit score. Borrowers will also know MLOs want their business when their credit recovers.
  • Reduce rescores: Wayfinder helps MLOs optimize rapid rescoring fees by updating fewer accounts and automatically applying best practices to make it highly likely to get the scores the borrower needs, the first time the MLO re-pulls credit.
  • Save time: Wayfinder tries hundreds of possibilities to create one easy-to-follow plan to help borrowers raise their credit scores. No experimenting with different combinations of actions is required -- it's all handled by intelligent software.
  • Remove uncertainty: Wayfinder shows the percentage likelihood of reaching the target score and automatically adjusts the plan to boost the success rate.
  • Make it easy for the borrower: Wayfinder provides clear, simple, specific instructions designed for consumers, plus timely guidance to avoid common pitfalls. The software’s upgraded AI conserves borrower cash and reduces the amount of work the borrower must do.
  • Get started right away: Wayfinder is easy to use right from the start. MLOs just pick a score goal and Wayfinder does the rest.

CreditXpert Wayfinder, which is the next generation of CreditXpert® Essentials™, is ideal anytime a borrower's credit does not qualify for the best rate. The user experience is designed to be simple, so MLOs can easily navigate the complexities of credit without being an expert. It offers a workflow that simplifies the development of an effective plan for every borrower's needs, provides best practices to follow, and facilitates easy communication with borrowers. CreditXpert Wayfinder’s comprehensive rapid rescoring instructions lead to accurate and effective data updates. 

“Borrowers expect MLOs to provide the expertise they need to get a great mortgage loan, while MLOs want to have the right tools to help them close more loans and ensure great experiences for borrowers and referral partners,” said Chung. “CreditXpert Wayfinder is the easiest and most reliable way to get borrowers the score they need to qualify for the right mortgage loan for them.”

CreditXpert Wayfinder will be available to credit report providers starting in November 2018. MLOs can learn more at www.creditxpert.com/wayfinder.

About CreditXpert Inc.
CreditXpert Inc. is the pioneer and premier provider of highly personalized credit management and optimization solutions, available through our distribution partners. Our software is used by at least half of the top 10 mortgage originators and, on average, on more than 4 million credit reports per month. We are dedicated to empowering mortgage professionals with effective yet simple-to-use tools and education. Our proprietary technology uses artificial intelligence and other sophisticated analytical methods. If your business buys credit reports, ask your credit report provider for CreditXpert®. Learn more at www.creditxpert.com

MEDIA CONTACT:
Lisa Trapani
ltrapani@rosecomm.com
410-245-0094

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