CreditXpert Inc. Introduces a New Way for Lenders to Close More Loans by Helping Applicants Raise Credit Scores to Desired Levels and Qualify for Better Offers

March 16, 2004

TOWSON, Md., /PRNewswire/ -- CreditXpert Inc. today introduced
new capabilities for lenders to help applicants qualify for better rates and
terms. Loan officers can now use CreditXpert Credit Wizard(TM) to enter a
target credit score improvement and automatically identify, if possible, the
most cost-effective steps to achieve it.
"As mortgage rates climb, lenders are looking for better ways to do
business. The Target Score feature will help lenders approve some applicants
who would normally be declined and qualify other applicants for better rates,"
explains David G. Chung, interim president and vice president of business
development, CreditXpert Inc. "This is not score manipulation. It's about
helping lenders close more loans and helping consumers better qualify so that
they save money over the life of those loans."
CreditXpert Inc. estimates that an applicant could save, for example,
approximately $11,650 on a 30-year, fixed, jumbo mortgage of $400,000 by
qualifying for a lower rate. This is based on a typical profile, containing a
mortgage, two automobile loans, and over $9,000 of credit card debt.
CreditXpert Credit Wizard(TM) determined that the applicant could obtain the
nine-point credit score improvement needed to qualify for the next lower rate
by spending a total of $1,185 on paying down balances on a retail card and a
bank card - the minimum outlay to achieve this point gain. While such
applicants have good credit, they may still fall short of qualifying for the
best rates and terms available.
"Today's announcement adds a new dimension to lending," Mr. Chung says.
"CreditXpert Credit Wizard(TM) remains the only tool of its kind that
automatically identifies the best actions to maximize someone's credit. Now,
lenders can utilize the software to achieve specific results, approve more
applications, and close more loans."

About CreditXpert Inc.
CreditXpert Inc. provides highly personalized credit management tools to
help lenders more effectively originate loans and manage customer
relationships, and to help consumers understand, manage, and improve their
credit and the credit decision process. Based on an advanced hybrid of
artificial intelligence, statistical techniques and analytical methods,
CreditXpert(R) provides the most accurate predictions and the greatest
explanatory power available today.

CreditXpert products and services are offered through credit reporting
agencies, consumer finance information providers, credit counseling agencies,
mortgage brokers, and lenders. By offering these valuable personal finance
tools, CreditXpert helps clients increase revenues, build stronger customer
relationships, and retain more customers. CreditXpert Inc. has championed
credit disclosure and analysis - and its benefits to both consumers and
lenders - since it pioneered the first credit analysis service in September
2000. For more information, visit http://www.creditxpert.com or call 800/500-8553.


SOURCE CreditXpert Inc.
Web Site: http://www.creditxpert.com