Data Extraction for Scorex Credit Score Validation

Create process to extract loan data based on specific criteria

Provide reports to substantiate requested data (Good, Bad & Declined)

Set parameters to create UNIX files, which can be spooled to tape or ftp’d to a PC which would then be e-mailed to Experian

Data is then analyzed by Scorex to refine the credit-scoring module

Process will be in place for future extractions for validations

Advantages to processing this data extraction electronically versus photo-copies:

Requested random sampling of 750 accounts (250 each of Good, Bad and Declined) is not required since this process is being submitted electronically.

All accounts that meet the selection criteria, for each of the categories, will be collected and Scorex will not charge any additional fees regardless of number of accounts submitted.

Making photo-copies of original loan applications and corresponding credit bureau reports by the credit union is time consuming and not cost effective of employee's time.

If photo-copies are submitted, a minimum of 4 weeks is required for data coding before any analysis can begin.

Data coding by Scorex of photo-copies will be in excess of $5,900

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