Qualify New Borrowers with PRBC Reportssm
Approximately 50 million Americans have little or no credit history on file with the "big three" credit bureaus.
While millions of these individuals earn steady incomes, and meet regular payment obligations, there has been no easy way for mainstream lenders to evaluate them as potential borrowers.
PRBC (Payment Reporting Builds Credit) is a national credit bureau that captures consumers' history of paying rent, utility, and other recurring bills that aren't reported to traditional bureaus. We enable consumers and small businesses to build a credit file automatically as they pay their bills, or by verifying self-reported payments they have made in the past. Our service bridges the gap between consumers seeking credit and lenders seeking to qualify them.
Responsible consumers benefit by providing lenders a complete snapshot of their payment history, and differentiating themselves as good credit risks. Lenders and brokers benefit by using PRBC Reportssm to close more loans, reduce risk, and build loyalty in growing, underserved markets.
Make Better Decisions Using PRBC Reports
PRBC (Payment Reporting Builds Credit) is a national credit bureau that captures consumers' history of paying rent, utility, and other recurring bills that aren't reported to traditional bureaus. We enable consumers and small businesses to build a credit file automatically as they pay their bills, or by verifying self-reported payments they have made in the past. Our service bridges the gap between consumers seeking credit and lenders seeking to qualify them.
Responsible consumers benefit by providing lenders a complete snapshot of their payment history, and differentiating themselves as good credit risks. Lenders and brokers benefit by using PRBC Reportssm to close more loans, reduce risk, and build loyalty in growing, underserved markets.
FHA & Fannie Mae Accept PRBC Reports
FHA "provides guidance to lenders and underwriters for establishing and evaluating nontraditional credit histories..." which "must be considered for borrowers without traditional credit beginning..." on May 29, 2008.Read FHA's Mortgagee Letter
"PRBC Reports comply with Fannie Mae standards for establishing the credit reputations of manually underwritten borrowers..."
Read full Fannie Mae quote
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