CreditXpert ® User Guide
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CreditXpert®
User Guide
CreditXpert is a suite of software solutions that helps you approve more applicants and eliminate guesswork by providing helpful insights, predictions, and more thorough credit analysis.
ContentsCreditXpert® Product Suite Reference . . . . . . . . . . . . . . . . . . . .2
CreditXpert® Wayfinder . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2CreditXpert® What-If Simulator™ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
How to Use CreditXpert . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2
Log In to Credco .com and Search . . . . . . . . . . . . . . . . . . . . . . . .3
Order New CreditXpert Transactions . . . . . . . . . . . . . . . . . . . .3
Ordering a CreditXpert Wayfinder Transaction . . . . . . . . . . . .4
Ordering a CreditXpert What-If Simulator Transaction . . . . . .7
Simulating Changes in CreditXpert What-If Simulator . . . . . .7
Results . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8
Print / Save to PDF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8
View Existing CreditXpert Transactions . . . . . . . . . . . . . . . . . . .9
List of CreditXpert Transactions . . . . . . . . . . . . . . . . . . . . . . . . .9
Support . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10corelogic.com . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10
CreditXpert User Guide
CreditXpert User Guide | 1
2 | CreditXpert User Guide
CreditXpert® Product Suite Reference
CreditXpert® Wayfinder � Intelligent algorithm takes just seconds to evaluate hundreds of loan options .
� Generates a personalized plan outlining specific steps your borrower can take to obtain the score they need.
CreditXpert® What-If Simulator™
� Uncover how virtually any action will impact credit before that action is taken.
� Prepare for Rapid ReCheck by selecting ‘Immediate’ timeframe, the Rapid Rescore mode.
� Allows you to simulate the addition of new trades and inquiries.
How to Use CreditXpertHere are some recommendations on how to start using CreditXpert:
� Start with underwriting requirements; do you need to work with a mid-score, low score or a specific bureau score?
- Choose your applicant and bureau. You can reference the information provided by Credit Assure™ on your credit report to help you determine which bureau to choose.
- Already planning on ordering a Rapid ReCheck? Run your simulations in Rapid Rescore mode in ‘Immediate’ timeframe in CreditXpert What-If Simulator. You can also change the timeframe on CreditXpert Wayfinder to pull a credit report in a month.
- Do you have some time before the loan will close? Run your simulations by selecting the timeframe that reflects when the credit report will be re-pulled, up to 24 months in advance .
� Already know what changes to make?
- Use the CreditXpert What-If Simulator to simulate changes .
� Not sure what changes to make?
- Start with CreditXpert Wayfinder.
- Use the CreditXpert What-If Simulator .
� Both products work best in conjunction with each other.
- Input specific actions from CreditXpert Wayfinder into CreditXpert What-If Simulator for overall impact .
- Simulate additional changes .
CreditXpert User Guide | 3
Log In to Credco .com and SearchFrom the search screen, you can select one or more search criteria. Search by any of the following criteria that you are set up for:
� SSN
� Applicant Last Name
� Co-Applicant Last Name
� Report ID
� Date
� Account number
Order New CreditXpert TransactionsDepending upon your selection, one or more transactions will appear.
To request a new CreditXpert transaction, you must identify an Instant Merge report by clicking on the box in front of it. Then click the “CreditXpert” button.
NOTE: Account number used to request the Instant Merge report or the user record account number must be configured for CreditXpert. Credit report date must be within 30 days in order to run CreditXpert.
4 | CreditXpert User Guide
Ordering a CreditXpert Wayfinder TransactionIf you have Credit Assure enabled on your Instant Merge report you can easily access Wayfinder via the hyperlinks on the report. Simply click the “See How>” link next to the bureau you wish to analyze to be taken to the credco .com login page . Once you enter your credentials, you’ll be taken to the order page.
From the CreditXpert order page, select your borrower and product you wish to order.
NOTE: The CoreLogic pricing template will be applied to each bureau selected regardless if a score plan is requested from that bureau or not.
Once you’ve selected your borrower and bureaus to run, click place order to be taken to the CreditXpert Wayfinder page.
CreditXpert User Guide | 5
Select the bureau you want to generate a score plan from .
Choose the score band you would like to achieve. To find a custom or unique score, click on the Other button.
Results include an estimate as to how likely the plan is to be achieved based on various factors. To see more information, click on the See Details button.
6 | CreditXpert User Guide
At the bottom of the results page, you can view a summary of items to be included when ordering a Rapid ReCheck.
If you want to adjust the default settings, or try additional scenarios, click on the “Try Other Options” button to change the score goal, cash limit, time frame, limit on the number of actions, or to start over.
To try scenarios with different bureaus click on the bureau name at the top of the page.
You can also print the details of the plan by clicking the Print button, or click the Copy and Paste button to easily paste the results into an email for your client .
CreditXpert User Guide | 7
Ordering a CreditXpert What-If Simulator TransactionChoose the target Applicant and Bureau .
Simulating Changes in CreditXpert What-If Simulator � Choose the timeframe:
- Select ‘immediate’ timeframe for Rapid ReScore (to prepare for a Rapid ReCheck) .
- If credit report is not expected to re-pulled immediately, select the timeframe that reflects when the credit report is expected to be re-pulled, up to 24 months.
� Find the target trade line in the trade line list:
- The trades likely to be of interest are listed first.
- Revolving accounts are listed by utilization, from highest to lowest.
� Update the appropriate fields based on expected client actions.
� Each action or change of action will automatically update the score forecast .
8 | CreditXpert User Guide
ResultsCreditXpert will display the score forecast for each action or change of action .
List of actions are listed in the right column, below the “Start Over” button.
The total cash required to carry out actions is calculated .
Print / Save to PDFTo save and/or print the list of actions, click on the “Print” button located in the upper right corner .
The current score and forecast score, along with the actions will be generated for your files.
CreditXpert User Guide | 9
View Existing CreditXpert TransactionsIf you would like to view previously run CreditXpert transactions or run additional simulations on existing transactions, click on the CreditXpert link in the Credco .com navigation bar.
List of CreditXpert TransactionsYou will see a list of your previously run CreditXpert transactions . Use the search fields to narrow down your search.
Click on the Instant Merge reference number link or type in the CreditXpert transaction ID or Instant Merge reference number in the search field to view all simulations and to order new simulations.
To view the past CreditXpert scenarios that have been run on an Instant Merge report, simply click on the plus sign next to the transaction, and select “View” to see past results .
corelogic.com ©2019 CoreLogic, Inc . All Rights Reserved . CORELOGIC, the CoreLogic logo, and CREDCO are trademarks of CoreLogic, Inc . and/or its subsidiaries . All other trademarks are the property of their respective holders .23-CREDX-1911-01
SupportTechnical Support: 800.423.1150
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