SOURCE: CreditXpert Inc.

CreditXpert Inc.

November 02, 2016 10:10 ET

CreditXpert's TrendScape™ Automates In-Depth Credit Report Analysis Amid Shift to Trended Data

With Release of Fannie Mae's DU 10, Proprietary Technology Empowers Loan Officers and Underwriters with Easy Access to Applicants' Complete Credit Picture

BALTIMORE, MD--(Marketwired - Nov 2, 2016) - CreditXpert Inc., the leading credit analysis and management solutions provider, today officially announced the addition of TrendScape™ to its suite of credit analysis tools. The proprietary software automates analytics, helping mortgage loan officers and underwriters quickly and easily make sense of the new trended credit reports, many of which now include more than a thousand new data points.

Trended credit data, detailed historical information provided for each line of credit, is changing underwriting, which previously relied on a static analysis of credit. This loan origination sea change can present challenges for loan officers and underwriters as they work to best serve both their companies and applicants.

TrendScape™, now part of CreditXpert® 9, analyzes and interprets large amounts of data, enabling lenders to quickly spot trends tied to clients' credit behavior. It then delivers that critical information in plain language, on the first page of every credit report.

"Trended data is the new normal in mortgage credit reporting, providing an opportunity to better understand applicants' true credit behavior," said Dave Chung, managing director of CreditXpert Inc. "But it may not be readily apparent exactly why applicants are denied loans based on this data. TrendScape™ makes sense of this new world, presenting insights to loan officers and underwriters in a digestible way. Armed with that intelligence, they'll be in a better position to quickly discover opportunities for applicants."

Fannie Mae, the mortgage company controlled by the U.S. government, just released Desktop Underwriter® Version 10.0 (DU® 10), the next version of its industry-leading automated underwriting system. DU 10 now incorporates trended data into its risk assessments.

TrendScape™, which conveniently comes as an add-on with every trended credit report, offers unmatched benefits to users by:

  • Automatically analyzing credit reports: Shows immediately on the first page how applicants are trending
  • Finding and forecasting trends: Alerts loan officers and underwriters to important behaviors and uses trend data to forecast key credit score changes

"Our team of data scientists built TrendScape™ because we know loan officers and underwriters don't have the time to cull through trended data reports to identify opportunities for their customers," said Peter Fitton, product manager for CreditXpert Inc. "TrendScape™ empowers users to take advantage of all the new data in trended credit reports so they can put the data to work and focus on what they do best -- closing more high-quality loans."

About CreditXpert Inc.
CreditXpert Inc. is the pioneer and premier provider of highly personalized credit management and optimization solutions, available through our distribution partners. We are dedicated to empowering people with powerful yet simple-to-use tools and education. Our proprietary technology is based on advanced statistical techniques and sophisticated analytical methods. If your business buys credit reports, ask your credit report provider for CreditXpert®. Learn more at https://www.creditxpert.com.

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