First U.S. Community Credit Union to Use Edgeware Analytics' ScoreEdge Small Business Credit Score and RiskRate Small Business Portfolio Score to Improve Origination and Servicing Decisions
Leading California Credit Union to Use Data-Driven Models to Enhance the Quality of Its Small Business Loan Portfolio
SAN DIEGO, CA -- (MARKET WIRE) -- April 04, 2007 -- Edgeware Analytics, Inc., an innovative provider of decision tools for small business lenders, has announced today that First U.S. Community Credit Union has selected the ScoreEdge™ small business loan decision solution to improve origination performance, and RiskRate™ small business portfolio score to drive better servicing actions.
ScoreEdge is an online, real-time decision tool that provides greater insight into the risk of loan approvals. Edgeware Analytics developed the statistical model by analyzing hundreds of thousands of SBA and conventional loans and their subsequent performance. ScoreEdge examines the same application-time data available to the loan officer and returns a three digit score that helps predict the loan's future performance.
RiskRate is a servicing and portfolio management model that delivers an empirical risk score for every loan in the small business portfolio. RiskRate assesses each loan's payment history along with any reported financials and general loan information including industry and geographic location to yield the powerful RiskRate score.
"I'm excited to incorporate ScoreEdge and RiskRate into our credit process," said Gordon Gerwig, Business Services Manager for First U.S. Community Credit Union. "We've selected Edgeware's ScoreEdge and RiskRate decision models to give us additional risk insight and another reason to say yes to worthy borrowers."
"First U.S. Community Credit Union is a recognized leader in the California Credit Union market," said Mike Rozman, President of Edgeware Analytics. "All of us at Edgeware are excited that First U.S. has chosen us as their decision model provider and we're proud to support their commitment to credit excellence."
About Edgeware Analytics, Inc.
Edgeware Analytics, Inc., an innovative provider of customized and generic decision tools to lenders, combines expertise in statistical modeling and credit evaluation to create profit-enhancing predictive models. Used by national lenders, certified development companies, community banks and credit unions; Edgeware's ScoreEdge™, RiskRate™, and Oscore™ product lines work in conjunction with a lender's established underwriting procedures to measurably improve the accuracy of small business lending decisions. Additional information can be found at: www.EdgewareAnalytics.com.
About First U.S. Community Credit Union
First U.S. Community Credit Union offers a variety of services for members who have or are establishing a small business. These services are offered with the same degree of personal service and exceptional value that members have come to expect from the Credit Union through its personal financial services. SBA loans for real estate, debt refinance, expansion, and inventory. We also offer business checking, merchant card processing, and business credit lines.
Contact:
Mike Rozman
888-672-6730
Email Contact
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