CREDEVOLV CEMENTS ITS COMMITMENT TO FINANCIAL INCLUSION

The FICO^® Decisions Award 2023 recipient increases loan readiness rates among the underserved - like first time homebuyers, low-to-moderate-income, and minority borrowers.

NAPLES, Fla., July 31, 2023 /PRNewswire/ -- Credit Fintech SaaS platform CredEvolv cemented its status as a socially committed innovator, with its recently received FICO Decisions Award in the category of Financial Inclusion. This is a global award, given to only 15 companies across 10 categories each year.

While traditional credit repair organizations prioritize quick fix solutions and tradeline disputes, CredEvolv's platform prioritizes consumer education and credit well-being, which drives sustainable credit score improvements and credit confidence among consumers.

Mission-aligned lenders who connect their clients through the platform are also able to "do well by doing good," achieving greater pull-through in closed loans while doing well by their consumer base.

CredEvolv connects low-credit and credit-declined consumers with HUD-certified and nonprofit credit counseling agencies via its platform - resulting in a significant increase in the number of consumers who can achieve loan readiness in a short period of time.

"Since inception in 2021, we've shown we can 10x the number of consumers who actually obtain a mortgage within 12 months of a credit decline, versus those who try to DIY their credit fixes," Jeff Walker, CredEvolv's CEO, said.

"Additionally, our nonprofit counselor partners - who work on our platform, using our integrated tools like FICO Score Open Access and Freddie Mac HomeCoach^SM - are able to achieve results that, quite simply, for-profit companies, quick-score models, and AI can't achieve. That extra hand-holding provided by a compliant, nonprofit counselor makes a big difference."

CredEvolv partners with mission-aligned lenders who want to increase loan readiness rates among their borrowers who would otherwise fall out of their pipeline. By connecting their clients to CredEvolv - and through that connection to a nonprofit credit counselor - lenders see increased pull-through in their pipelines.

CredEvolv consumers achieve mortgage readiness in an average of 3 to 5 months - and sometimes sooner.

About CredEvolv

CredEvolv breaks down the barriers to credit equity and guides individuals seeking improved credit on a journey to sustainable, lifelong credit well-being. CredEvolv's proprietary credit and debt management education platform allows lenders to transform consumers in need of credit education and remediation into qualified applicants and lifelong customers by connecting them with HUD-certified & nonprofit credit counselors.

For more information, visit CredEvolv.com.

Contact

Libby Romano
[email protected]

SOURCE CredEvolv Services LLC

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