How To Use The What-If Simulator

As you've seen in the previous examples (see: How To Increase Credit Scores with CreditXpert Essentials) getting your borrower to the score they need using the CreditXpert suite of products is simple and straightforward using the Avantus system. With Essentials, we were given specific instructions to follow in order to achieve the desired credit score increase. With the What-If Simulator, you can create your own specific scenario or see score results based upon actions already taken by the consumer.

• For example: Consumer says: "What happens if I pay down my Visa account or provide proof that I was never late on my mortgage?"

Clicking Order on the What-If row will open a new window allowing you to edit specific account information fields, OR allow you to create a predefined scenario developed by CreditXpert.

• Note: The What-If Simulator defaults to Rapid Rescoring Mode. If however, you choose NOT to implement your changes using our optional Rapid Update service please un-check this box, as it MAY alter your score results.

Example 1: Simulating a Balance Change on an Account

For this example we will be using a CITI Credit Card account. First, click [edit] to the left of the account name and you will see the individual fields that you are allowed to edit.

• Click inside the Balance field, and type a new balance (e.g. 1000 or zero). This change will also require a selection in the Intent field (i.e. Pay down the balance).

• Note: Do NOT click the Delete this record box unless you have proof that the account does not belong to the consumer and should be deleted from the credit file permanently. Also, do not modify the Worst Status drop-down box unless you have proof that ALL payments have been Paid as agreed.

• You may also choose to edit additional accounts or public record items simultaneously (prior to submitting these changes to the Simulator for results). When you have completed your changes, scroll down and click the Submit Actions button. If you make a mistake and are unable to correct it, simply click the Reset Form button.

Here are the results of your changes:

And here are the Actions that were submitted to the Simulator (review for accuracy):

• Remember: As stated above, every action modifies the results of a previous action. Removing actions or performing them in a different order may produce different results.

 

Example 2: Using CreditXpert's Predefined Scenarios

For this example we will be using CreditXpert's Predefined Scenarios, which are simply automated setups of the What-If Simulator based on commonly requested queries.

• Clicking the words predefined scenario (above) will launch a new window and allow you to fine-tune your anticipated actions (below). As you can see, there are several predefined scenarios to choose from based on the borrower's goals.

• Here is another common Predefined Scenario, where you might be working with a consumer to improve their credit score over time (e.g. 6 months from now) if they don't currently qualify for a favorable loan:

Important Notes:

• If you have an urgent timeframe for results Follow the actions recommended exactly and request a Rapid Update, with the assistance of Avantus personnel.
• If you have NO immediate timeframe and can wait at least a month to see results, follow the actions recommended precisely and wait for the credit bureaus to update the borrower's file electronically at the end of every month. The score will always change over time as information is updated, added, or deleted.

If you have questions about our credit score improvement tool CreditXpert, or any of our mortgage credit products and services, feel free to give us a call at 800-243-0120.