Close Up to 30% More Loans Per Month
Considering today’s mortgage market, you cannot afford to leave any money on the table. CreditXpert Inc., an innovator in software technology for the lending community, provides the consumer credit score tools you need to help close more loans faster. You can now access these online tools through Equifax and take a more consultative approach to improve your applicants’ lending experience.

New Minimum Scores and Mortgage Insurance
680 is now the score that matters for top private mortgage insurers, who are imposing new pricing and guideline changes for eligibility on a variety of loan products. These changes hinge greatly on the consumer credit score, in conjunction with the loan-to-value ratio. Also, effective July 14, 2008, the FHA will implement a risk-based premium policy for its mortgage insurance on 1 to 4 unit single family mortgages, with premiums varying slightly based on the term of the loan. By using CreditXpert®, you can help your applicants maximize* their credit score … the higher their score, the less they will pay in insurance policy fees upfront.

New Ranking Fees From the GSEs
Fannie Mae and Freddie Mac are giving you even more reasons to improve your applicants’ credit scores – new risk-based fees related to credit score rankings. These new fees range between .75% – 2% of the loan amount on certain types of loans. Using CreditXpert’s optimization solutions on your applicants’ credit files will maximize their credit score opportunities, resulting in potentially significant savings and more closed loans.

Learn how you can use CreditXpert to make more informed decisions. Contact your Equifax representative today.

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