Advantage Credit International Introduces SCORMOR, Non-Traditional Credit Report for Brokers Nationwide

Advantage Credit International® announced today that it has reached an agreement with PRBC® to become a verification partner and distributor of PRBC reports. Under the agreement, Advantage Credit will provide supplemental reports for borrowers who require non-traditional credit information to qualify for a mortgage. Advantage Credit is the first credit reporting company to offer this service to its more than 8,000 broker clients. PRBC is the only credit repository to provide a supplemental credit report for borrowers with thin credit files. Advantage Credit offers the PRBC Report(SM) and Bill Payment Score(SM) (BPS(SM)) as the SCORMOR™ report. The most unique feature of this service is that the report generates a BPS(SM) as a supplement to a traditional credit score, if one exists, to provide applicant segmentation that is more accurate, and pricing in the secondary markets that is more efficient.

“Our new SCORMOR™ report, will allow lenders and brokers to close more loans in markets where traditional credit information is lacking,” said Ron Litt, President of Advantage Credit. “SCORMOR™ permits brokers and lenders to reach those markets that have always been underserved but have many viable borrowers.”

The BPS(SM) is based on non-traditional tradelines along with the borrower’s payment history for monthly expenses like rent, utilities, insurance and more. PRBC encourages potential borrowers to establish and build their credit scores with rental and other recurring payments, using the PRBC service.

“The PRBC service is a great fit with Advantage Credit’s business model, as it provides the company’s broker customers with a unique marketing advantage in gaining new loan volume with an automated system of verifying, storing and scoring non-traditional credit data,” said Matthew Vitko, director of business development at PRBC. “Borrowers are now able to demonstrate their credit worthiness with the bills that they have paid for up to the past three years when they apply for a mortgage, auto loan, insurance and employment.”

Once the potential borrower enters his or her information into PRBC’s web-based data center, Advantage Credit verifies the consumer’s entries. He or she can then authorize loan officers, brokers, credit companies and others to view his or her credit through an Advantage Credit SCORMOR™ report.

Advantage Credit’s brokers and lenders will attract a great number of new immediate and future borrowers by simply informing consumers about this new choice and equal credit opportunity never before offered.

“As a reseller of PRBC’s reports, Advantage Credit offers our brokers and lenders the ability to close loans with borrowers in underserved and emerging markets,” said Litt. “We are proud to be a pioneer partner in this segment of the credit reporting industry. People with stable payment histories are often overlooked by the traditional credit reporting model. This process will enable responsible people, who have not been able to own a home because of limited credit history, to achieve the American dream. It’s a win-win for everyone.”

For more information, contact Ron Litt, president of Advantage Credit, at 800.600.2510 ext.2335 or via e-mail at rlitt@advantagecredit.com, or contact Matthew Vitko, PRBC director of business development, at 410.280.0048 ext.203 or via e-mail at mbvitko@prbc.com.