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Press Release
Pay Rent, Build Credit, Inc. and Luxor Technologies, Inc. announce strategic partnership to merge PRBC Consumer
Reportssm with the Nation’s three largest credit bureaus and other data sources.
March 2, 2005
Annapolis, MD - Pay Rent, Build Credit, Inc. (PRBC), the first credit bureau to provide consumers with the choice and tools necessary to demonstrate fiscal responsibility with rental and other commonly recurring bill payments, as homeowners do with prime-rate mortgage payments, today announced an exclusive partnership with
Luxor Technologies, Inc. to deliver PRBC Reportssm to PRBC’s Data Subscribers.
PRBC Reportssm are available at www.prbcreports.com and enable PRBC Data Subscribers to obtain a single report that merges the Nation’s three major credit bureau reports and other data sources selected by a Subscriber, with PRBC Consumer
Reportssm and a PRBC Bill Payment Scoresm (BPSsm).
"We have worked closely with PRBC to deliver a powerful new tool that can merge PRBC Data with the credit history information from all three national credit repositories." advises Robb Murdock, President and CEO of Luxor Technologies, Inc. and he adds "We are very excited to provide this technology to the financial services industry and to strengthen our relationship with PRBC in support of its unique credit bureau model."
"We are pleased to announce our partnership, as Luxor brings the expertise and qualifications necessary to fulfill market demand for PRBC
Reportssm and deliver high value to PRBC Subscribers." observes Michael Nathans, PRBC founder, adding "PRBC
Reportssm give housing providers, lenders, insurers, and employers a more complete picture of applicants and hold the potential to mitigate the disparate impact that the use of traditional credit reports and scores that do not consider rental and other commonly recurring bill payments have been observed to have on consumers with thin and no-hit credit bureau files."
About PRBC
Pay Rent, Build Credit, Inc. (PRBC) is a national credit bureau with a community
economic development mission that is supported with a grant from the Ford
Foundation and by Tier I Data Subscribers that include Citimortgage, Fannie Mae,
and Freddie Mac. PRBC supports risk-based pricing and is the first to offer
consumers the choice and tools necessary to establish and build an accurate
credit history with rental payments, as homeowners do with mortgage payments in
a "voluntary credit reporting system". PRBC does not charge consumers
a fee and mailing lists are not sold. An Advisory Board and a Technical Steering
Committee that includes consumer advocates, educators, faith-based leaders, and
industry professionals guide PRBC. PRBC is powered, hosted, and secured by IBM,
and can be accessed at
www.prbc.com.
About Luxor Technologies, Inc.
Luxor Technologies, Inc. provides credit reporting software solutions and expertise to lending institutions nationwide. Luxor is a California corporation in operation since 1998, and is based in San Diego. Luxor Technologies, Inc. was founded by Robb Murdock and James Weinberg, seasoned veterans of credit reporting technology, creating and maintaining credit reporting systems for national credit repositories, credit reporting agencies, lenders, and decision-making software companies.
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