Creditxp Software as a Service
Data-driven knowledge based software algorithms resolving complex consumer credit report issues.
Characteristics of the Software
ConvergenceThe degree that a function or sequence approaches as the input considers the relevant values:
The analysis of data imported from a consumers credit report with predetermined algorithms. Algorithms signify potential data furnisher errors, inaccuracies, inconsistencies, or outdated information.
ParadigmThe theory of knowledge is a distinct concept or thought pattern defining a particular period:
The assessment of the analysis of the data imported from the consumers credit report to target solutions in attaining accurate data reporting from data furninshers.
DeterminismEffective method for solving a problem for a specific class after a finite number of steps:
Results of a performed investigation; determined by prior conditions identifying historical denoted existence of data reported by a data furnisher after the acknowledgment of a particular request.
CalculabilityCause-and-effect; when a given paradigm exists depending upon conditions determining the event:
Possibilities rather than exact answers; methods with likely electable results needed to produce solutions to generate success in settling unfavorable conclusion of investigations.
A collaboration engaging lenders, realtors and builders. Offering a system combined with support is invaluable when working with everyone involved to update your clients progress. You will form a unified relationship beyond measures providing an astonishing service that keeps everyone informed. No other system on the market gives you the ability to offer such a remarkable product and service.
Handle collections that were not resolved with sanitizing the file. When collections have been validated as accurate you now have options to resolve. Help them Settle it or file a Complaint to the CFPB for possible FDCPA Violation. This service is extremely valuable due to collections can be very complex. One of the feature is that the system creates letters to negotiate the collection for less than the amount owed. The system provides the tools needed to settle these accounts.
Software Case Study
X1 AnalysisTri-Merge Summary with Action Plan:
- Average starting FICO score across all 3 bureaus: 567
- Percent with insufficient trade-lines that need to create credit: 22%
Based on originations in 1Q'14 where the disputes process was executed at least once.
X2 DisputesAutomated Validations and Error Corrections:
- Average number of accounts deleted: 7
- Average FICO score improvement after 45 days: 36
- Average number of settlements remaining: 1.5
- Percentage of accounts with no settlement letters: 48%
X3 SettlementsSide-by-Side Results and Settlement Letters:
- Average FICO score improvement after 90 days: 61
- Percentage of accounts removed from settlement: 62%
- National Average FICO Score: 639
- National Average FICO Score: 639
Revenue StudyFundable new organic growth from existing applications:
|Est. # of loans declined due to credit report||19,600||Industry averages: Size of loan $168,000;
56% declined due to bad credit report
|Est. # of these approved after processing||4900||Estimate 25%. Based on modeling and validated with broker survey results.|
|Est. revenues generated from additional loans||$34,800,000||Estimates (per loan): BPS 1.90%, Fee Income $1000, Servicing Fees 0.25%, “Extra Services” premium BPS 0.5%|
The full spreadsheet model is available on the X tab allowing you to plug in your own numbers to calculate your own ROI.