Are you new to the world of underwriting loans, screening tenants, or anything else where a credit report is required? Then you’re probably looking for the easiest way to scan and verify credit reports.
While it’s easy to look at a credit score, the score by itself doesn’t tell you the entire story of a borrower’s credit history. Oftentimes, there are obvious mistakes that are causing a lower score.
It can take a ton of time to manually go over credit reports, scan for errors, and assess borrowers. That’s why so many lenders turn to Credit Assurance.
Credit Assure is just one product in the suite of CreditXpert Software. And it’s one of the most useful, particularly for underwriters or those making decisions.
But how does this credit software work, and how can you use it to make your job easier? Read on below to find out now.
What Is Credit Assurance?
Credit Assure is a software product offered by a company called Credit Technologies, Inc. It’s part of a larger package of software called CreditXpert, and it’s designed to make the jobs of underwriters easier.
Credit Assure in particular prescans every credit report that comes through your office. It automatically locates errors on the credit report, and lets you know why the borrower in question has a lower score than they should.
This lets underwriters know if a borrower is actually qualified or not, regardless of what their credit score says.
And the software doesn’t just find errors that are leading to a false low score. But it identifies real opportunities that could help your borrower improve their score, and thus, get a loan.
After all, your goal is to give out as many loans as possible, so long as a borrower has the necessary score. If you can help your borrowers get the score they need, you can close on more loans and grow your business faster.
It’s a win-win situation. And what would normally take a lot of manual work can be automated with the right software program.
Along with helping to identify those who qualify and those who don’t, the software can also help you see if a particular borrower might qualify for even better rates if they take certain steps to improve their score.
Other CreditXpert Products
Along with Credit Assure, you can also use the CreditXpert Wayfinder tool. This takes the information gathered from a credit report and created a detailed plan.
It lets you and your borrower the likelihood of improving their credit score, and exactly what should be done, like paying down a credit card balance, and in what order, for best results.
Once the software generates the report for you, you can click to share the report automatically with that individual.
The CreditXpert products that are available will work together to help you automate time-consuming tasks for you, and help your borrowers get the loans they need at the best possible rate.
Is Credit Assure Right for You?
Every lender needs credit assurance in order to close more loans and serve more customers. Credit Assure software makes this possible by improving your work rate and providing the best suggestions to your borrowers.
Using their software is a win-win, and we believe it’s right for nearly every lender and those who approve or deny applicants based on credit.
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