:"PRBC" may also refer to packed red blood cells."Infobox Company
company_name = PRBC, Inc.
company_type = Corporation
foundation = Incorporated in March 2002 as Pay Rent, Build Credit, Inc.
location = Annapolis, Maryland
Hamden, Connecticut
key_people = Corey Stone, CEO
Michael Nathans, Founder and Chairman

industry = Business Services
homepage = []

PRBC is a consumer credit reporting agency, more commonly referred to as a credit bureau in the United States. It is similar to the 3 most well known U.S. credit bureaus (Equifax, Experian, and TransUnion and the lesser-known 4th, Innovis) in that it is an FCRA (Fair Credit Reporting Act) compliant national data repository. However, PRBC differs in a few distinct ways. Consumers are able to self-enroll and report their own non-debt payment history to PRBC. They can build a positive credit file based on alternative data, such as timely payments for bills such as rent, utilities, cable, telephone, and insurance that are not automatically reported to the other bureaus. [Kenneth R. Harney, [ Finally, Credit For Paying the Bills] , "Washington Post", October 01, 2005.]

Company history

Headquartered in Annapolis, Maryland, PRBC was incorporated on March 12, 2002 under the name Pay Rent, Build Credit, Inc. The company name was later shortened to PRBC because all recurring bill and loan payments can be used to build credit, not just rent. PRBC received two initial funding grants from the Ford Foundation in support of the company's mission to build a national data infrastructure that incorporated rental payments into credit reporting to benefit consumers. [Susan V. Berresford, [ Ford Reports' Microfinance Plus] , "Ford Foundation website", 2004.] PRBC also received funding from the Omidyar Network, The Center for Financial Services Innovation and Total Technology Ventures. Initial data subscribers included Fannie Mae, Freddie Mac, and Citimortgage.

In 2005 and 2006, the National Credit Reporting Association (NCRA) and the National Association of Mortgage Brokers (NAMB) announced separate agreements [Kenneth R. Harney, [ New Service for Prospective Homebuyers with Artificially-Depressed FICO Credit Scores] , "Realty Times", October 03, 2005.] [ [ NAMB Teams Up with PRBC] , "", April 26, 2006.] with PRBC to help educate consumers how to document their creditworthiness by building a credit history based on their non-debt recurring payments.

In November 2006, PRBC received a patent [ [ Patent Granted for Alternative Credit Reporting Product] , "American Financial Services Association", January 2007.] from the United States Patent and Trademark Office for the company's technology and method for collecting data on commonly recurring bill payments made by individuals and small businesses, and incorporating them in a credit file, credit report, and credit score.

In December 2006, Fannie Mae and Freddie Mac acknowledged that PRBC Reports comply with standards for establishing the credit reputations of borrowers for loans that can be sold to them.

In March 2007, mortgage insurer Mortgage Guaranty Insurance Corporation (MGIC) announced an agreement to use PRBC Reports with PRBC Bill Payment Score (BPS) to automate their approval decisions for consumers with "thin" or no traditional credit histories. [ [ Mortgage Insurer MGIC to use PRBC Reports to Automate Approval Decisions] , "PR Newswire", March 22, 2007.]

At the end of 2007, Fair Isaac and PRBC announced a partnership [ [ Fair Isaac and PRBC Team Up to Enhance Credit Risk Tools Used by Mortgage Industry] , "Fair Isaac website", November 14, 2007.] to deliver PRBC Credit Report with FICO Expansion Score, a comprehensive credit risk management tool that U.S. mortgage lenders can use when assessing the risk of applicants who have little or no traditional credit history.


ee also

* Consumer credit reporting agency
* Political and Economic Research Council -- a think tank involved in the same issue area as PRBC

External links

* [ PRBC website]

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