How does it work? |
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Score Magic and What-If Simulator Services - Sample Report |
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Contact Certified Credit Reporting at 800-769-7615 to learn more about our Score Magic and What If Simulator product.
Credit Analyzer - Sample Report
Credit Analyzer processes a consumer’s credit report and determines the optimum actions to increase the credit score. Credit Analyzer includes breakdown of the consumer’s credit report in an easy to read format, explaining the positive and negative factors that are affecting their credit score. The Credit Analyzer also includes a complete breakdown of the consumer's credit report in an easy-to-read format, explaining the positive and negative factors that are affecting their credit score.
Credit Reports, Reinvented.
Credit Radar™ is a new cover page to your mortgage credit report that at a glance makes it easier to use than ever before.
You’ll be able to instantly size-up your loan applicants and spot any critical issues–all without digging through the actual credit report.
Credit Radar™ combines revolutionary credit intelligence and industry best practices into a simple, elegant page that is delivered automatically with every credit report.
Mid-Score Forecast: For the first time ever, you get a forecast of the mid-score for each applicant in 30 days so you know if there may be any problems at closing or if more options will be available soon.
Mid-Score Risk: Lets you know if nominal increases in revolving balance will put the mid-score at risk of dropping.
Key Indicators: Tells you if there is something that requires your attention or not.
Fast & Automatic: Since it’s a cover page, it gets delivered with your credit reports every time–no additional logins or clicks.
Available through August 31, 2010 at NO CHARGE! Please contact your Sales Representative to continue receiving the Credit Radar.
Credit Radar™ is a simplified way of alerting credit report users to key pieces of information, they need to know. In addition, it forecasts the potential mid-score if common credit-related events were to take place.
It includes:
- Current mid-score indicator.
- Potential mid-score indicator.
- Alerts as to the presence of:
* Authorized user accounts.
* Accounts in dispute.
* Other key items.
A compliment to the credit report, Credit Radar™ appears as the cover page to it, with the option of Credit Assure™ being presented with it. It requires little if any post-sales support from the CRA and will be most attractive to buyers of credit that are trying to improve efficiency or do more with less staff.
It exists because what your customer needs to know is not always easy to find, even for a veteran. Why not tell them right up front? If it saves one loan it’s worth it.
| Value Proposition | Benefit |
| Originators: Save time, learn just what you need to know right away and ensure best-practices. |
Users become more informed quicker; even veterans overlook things. |
| Lenders: Reduce waste from origination channels get loans “clean” before they get submitted to back office. |
Reduce staff costs dealing with issues that should have been dealt with early in the supply chain. |
Compliance: Flags deal-breakers and typical lender exceptions. |
Users are less likely to miss something that delays closing. |
What do the yellow exclamation points mean and how are they used?
They alert users as to the presence of something on the merged credit report.
When shown, users should look closer at this particular area of the credit report
within the indicated section. Some even set policy that users’ ‘sign-off’ on the
alert to confirm this closer look was performed.
What is the “Negative mortgage history” qualifier?
If there is a mortgage late on the credit report then this indicator is shown.
Why is the “Installment loans < 10 months left” qualifier important?
Some lenders change what is required for DTI ratios if a debt is near completion.
What is the mid-score forecast and does it consider all bureaus?
It does consider all bureaus and is derived by assuming minimum payments are
made and one months’ time passes.
Why is the mid-score forecast trending down?
Typically an inquiry may have reached a certain age, like over 30 days, and/or
positive accounts are at the end of the timeframe for which they will be reported.
What are “Alerts reported by bureaus”?
Anytime a fraud tool or other data-matching tool is tripped, a “hit” here lets the
user know they have something to look into.
How are the “Key Indicators” determined and how are they used?
They are determined by what is on the merged credit report. They help ensure
internal processes are followed and that there are no surprises at closing.
How is the “Mortgage shopping” Key Indicator used?
Originators will know immediately if their applicant has gone elsewhere first or if
they are the first with whom they are speaking to, this helps set their strategy.
What is the “Mid-score risk if revolving balances rise”?
All bureaus, not only the bureau that is presently the mid, is consider for this
forecast and is derived by assuming an increase as shown and one month’s time
passing. If the value is below a score threshold then consider other CreditXpert
products to help the consumer manage against the trend. This information can
also be helpful to motivate the consumer to limit their spending during the
application process.
How often is there a potential mid-score change and by how much?
Depending on the balance increase there is a potential mid-score drop of
approximately 8 to 18 points on 37% to 44% of all credit files.
Hints when Credit Radar is about to resonate?
When someone talks about:
- Refreshing a credit report just prior to closing…
- Loan officers getting penalized for lower pull-through rates…
- Fraud or verification tools alone not being a solution…
- Inconsistency in credit report formats or styles…
- Wanting something different or better for no cost, for a limited time!
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