Advantage Credit Supports HUD's Consumer Campaign with Alternative Market Resources

With HUD's first-ever consumer campaign coming this spring to 16 cities, Advantage Credit is helping brokers get ready for increased alternative market loans. Advantage Credit wil host a free teleconference on the HUD campiagn and alternative market opportunities on May 2, 2006.

Pensacola, FL (PRWEB) April 23, 2006 -- Advantage Credit is preparing brokers to beef up alternative loan capabilities with ScorMor™ Reports, Spanish credit reports and bilingual direct mail postcards in time for HUD’s first-ever consumer ad campaign this spring.

ScorMor, Advantage Credit’s alternative credit report, is a partnership product with PRBC that allows brokers and consumers to enter bill payment history directly to a website. After independent verification, ScorMor delivers a score usable for mortgage lending. It’s accepted by many lenders and supported by FHA, Fannie Mae and Freddie Mac. Other alternative market services are Advantage’s Spanish credit reports, which are free with every credit report order and available with one mouse click, and bilingual direct mail postcards that echo HUD’s FHA campaign messages. Postcards can be ordered immediately with customization and all mailing services included, or ordered on an á la carte basis.

Originators using these tools in HUD’s 16 campaign cities have a rare opportunity to capture loan traffic from the government’s first ad campaign to potential home buyers. To discuss the opportunities presented by HUD’s campaign and alternative markets in general, Advantage Credit will host a free teleconference at 1:00 Eastern Time on Tuesday, May 2. Panelists will include Advantage president Ron Litt, PRBC’s director of business development Matthew Vitko, American Broker’s Conduit national account manager Bob Sweeney, and others.

“We’re coordinating our efforts with HUD and with brokers to build loan volume among minority and first-time buyers,” said Ron Litt, president of Advantage Credit. “For example, HUD has endorsed alternative credit reports that provide bill payment scores, such as PRBC’S BPS which is included in ScorMor Reports, and we’ve created postcards for brokers to help promote the new FHA programs,” he continued. Litt, formerly SVP and CTO of Allied Home Mortgage Capital Corp., has years of experience in alternative market origination and lending, and has developed over 1200 Spanish-language broker websites.
   
“Brokers using Advantage Credit’s tools will have a leg up on the loan volume created from HUD’s advertising investment,” said Bob Arrowood, a consultant with over 25 years experience developing FHA business. “Advantage’s aggressive push in alternative market services makes them a great partner in supporting the president’s goal of 5.5 million new minority homeowners.”
   
For more information on Advantage Credit’s alternative market products, HUD’s first consumer advertising campaign or the free teleconference, call 800-600-2510, ext. 5403, or visit Advantage Credit.com.

About Advantage Credit

Advantage Credit International is the fifth largest credit reporting agency in the industry and is at the forefront of the fight against mortgage fraud. The company not only provides the easiest-to-read credit reports in the industry but also offers products, services and resources that save time, lower costs, close more loans and prevent fraud, doing more to aid loan officers. Advantage Credit serves more than 8,000 mortgage brokers and other customers nationwide through its customer-centric order and delivery site, Advantage Online and is a five-time Inc. 500 “Hall of Fame” winner. Advantage Credit, founded in 1991, is a wholly owned subsidiary of The Adaugeo Group. For more information, contact Amber Jackson at 800.600.2510 x2471, or via e-mail ajackson@advantagecredit.com or visit advantagecredit.com.

About PRBC

PRBC is the first credit bureau to give consumers the choice and tools necessary to demonstrate their ability and willingness to pay all of their bills on time consecutively. A PRBC Reportsm can be ordered that merges Equifax, Experian, and TransUnion credit reports and scores with a PRBC bill payment history and a Bill Payment Scoresm (BPSsm). PRBC Reports and the BPS are used to supplement a traditional credit report and score, or in the absence of one, to gain a more complete and accurate risk assessment of an applicant. The predictive power of the PRBC Report and BPS can be easily understood by consumers and users of traditional credit scores alike. PRBC does not charge consumers a fee to enroll in the PRBC service or to view their own PRBC data. In addition, PRBC does not sell consumers’ private personal information to solicitors, telemarketers, direct mail firms, or for research purposes. PRBC can be accessed at http://www.PRBC.com

Press Contact:
Amber Jackson
Advantage Credit International
Ph: 800.600.2510 x 2471

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