Multi-use technology identifies new revenue streams and detects risk Salisbury, Md., February 27, 2009 ? Credit Plus, Inc., a leader in the credit information industry since 1928, announces it has developed a suite of loan analytical tools. The technology focuses on assisting lenders and servicers in avoiding foreclosure. It also is utilized by lenders and brokers for data mining to identify new revenue streams. ?In today?s environment all lenders are modifying loans. Our proprietary software assists them in doing this by detecting potential loans that may be heading into default. In addition the technology can be utilized to discover additional income opportunities. For example, mortgage professionals only close mortgages for one out of every 10 credit reports pulled. With our technology, a broker can go back and look at the other nine potential borrowers to determine if any of them fit the parameters for modification,? stated Steve Grant, President of Credit Plus. Forecast Foreclosure With the Foreclosure Prevention Plan that began on December 15, 2008, and other government-announced programs, lenders are under pressure to scour their portfolios to assist borrowers in trouble to present them with modification options. Credit Plus? Loan Risk Analytical Solutions provides lenders with the opportunity to sort loans into risk categories and determine which ones to proactively contact to obtain positive outcomes. It can scan a few hundred thousand loans in a matter of hours. However, there is some verification like employment which has to be done manually by the lender to close the loan. Multiple Uses ? Data Mining Not only can the technology be implemented for loan modification, it also can be utilized for data mining. A lender can review a portfolio for various attributes and then utilize that information to cross sell other programs and services. ?The technology is extremely valuable for portfolio retention. A key thing to remember is that the software is highly customizable and extremely good at analyzing data based upon a set of criteria. It?s really refining data into powerful and valuable information,? said Grant. About Credit Plus, Inc. Credit Plus, Inc., a leader in credit information services, is dedicated to providing mortgage professionals with an unsurpassed level of service and technology. Headquartered in Salisbury, Md., the company provides quality products and services to a variety of clients nationwide. Credit Plus provides lenders and brokers the best tools and support to close more loans faster and cheaper. It recently introduced Ariston, a company located in Pittsburgh, which offers the best in title and settlement/closing solutions nationwide. Credit Plus and Ariston go BEYOND BUNDLEDTM by combining key settlement services, such as credit reports, flood reports, title insurance, AVMs, Warranted AVMs, TRVs and more, with stellar customer service. For more information, please call Credit Plus at 800-258-3488, email [email protected] or visit the company?s website at www.creditplus.com. For more information on Ariston, please call 800-569-9951, email [email protected] or go to www.aristonthebest.com.
