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CBA’s unique business model can help
you access reliable, high-quality data from community lenders on currently
unbanked and underbanked borrowers. There are more than 1,000 community lenders
in the United States that want to report the repayment history of their
borrowers, but have been unable to meet credit bureau minimum loan
requirements individually. As a data processor, CBA can provide
you their loan portfolios in aggregate.
In addition to processing data, CBA has
developed a unique model to assure credit bureaus that its members are
lenders that are reputable, longstanding community entities. Most community
lenders are underwritten by foundations, not to mention federal
and local government entities, such as the CDFI Fund, Small Business
Administration, and Departments of Housing. In addition, community lenders
are not only willing, but proud to provide information on their affiliations,
staff, accreditations, client demographics, loan portfolio management,
and annual turnover.
Equally important, CBA’s one-stop shop
approach gives small lenders critical technical assistance to help them
set up the appropriate technology, client services, credit bureau relationships,
and organizational infrastructure to efficiently report and verify data.
All this ensures that you can receive the quality, trustworthy data
with few disruptions or demands on your staff time.
Why is CBA data important to you?
Community lenders build relationships and extend credit to borrowers who
have no credit files or thin files as well as to clients who have a
sub-prime scores.
These lenders also invest in
financial and credit education to graduate responsible
borrowers to mainstream financial institutions. CBA offers an opportunity to for mainstream financial institutions to expand
their markets.
“Enabling CBA’s clients to report data to us expands the credit system to many individuals who have not had the benefits of an established credit history in the past. We applaud CBA for their pioneering work, and we are looking forward to seeing the results of our joint efforts.” - Zaydoon H. Munir,
Senior Vice President, Marketing, Product and Data Development for Experian.
CBA also believes that community
lenders and financial educators collect additional data predictive
of financial risk in underserved communities. CBA hosted a roundtable
at the CFED 2006 Assets Learning Conference
with Experian, Fair Isaac
and IDA organizations to brainstorm potential data points for research
and analysis including:
- Financial Education Participation
- Setting and reaching financial
goals
- Savings behavior
- and more...
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