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Online lender Ececu.org published a guide to understanding lender approval scores. This report reveals numerous details that factor into a borrowers lender score, including credit repayment history. The team from Ececu.org conducted numerous surveys over the past two years in an attempt to help improve the application process for borrowers who were searching for short term loans over the Internet. Improving education is a critical component in helping consumers identify the right loan to apply for, saving time and money and ensuring that unnecessary credit inquiries are not occurring. Lender credit criteria was a key area identified by many of the polled consumers as a topic that borrowers struggle to understand. The goal of conducting the surveys was to provide tools and tips for consumers to help find the best possible loan rates and terms.
Ececu.org spokesperson Kyle Burton said “for too long people have been in the dark on how a lender utilizes credit scoring, as a component of their loan qualification and the potential impact it has to determine key factors like interest rates”. This recently published informative article is designed to provide education and tips for borrowers searching for a new loan. This report helps to open the curtains on the industry and give regular people insights they won’t find elsewhere. Consumers who are searching for unsecured loans, personal loans or mortgage loans will discover a wide range of criteria that lenders consider throughout the application and underwriting process.
The report can be downloaded free at http://ececu.org/the-variables-that-make-up-your-lenders-credit-score/
About ECECU.org
ECECU.org was founded in 2009 and serves the online lending industry. The company is widely respected for helping to connect borrowers online with direct lenders in dozens of states. In 2015, the company introduced a new mobile friendly web platform allowing borrowers to search for a new loan from the convenience of their home or office.
Kyle Burton Kyle@ececu.org http://ececu.org
Release ID: 75140