Case Study: Spring EQ boosts approvals and secures better loan terms with Experian Boost (Experian)

The home equity lender recommends Experian BoostTM to all applicants near credit score thresholds to help them qualify for more desirable loans and terms

Spring EQ, a specialty home equity lender, wanted to help more applicants qualify for loans and secure lower interest rates without adding friction to its streamlined lending process. Many borrowers were close to credit-score thresholds that determined rate tiers, so Spring EQ sought a way to raise scores using consumer-permissioned data to increase approvals and improve terms.

Spring EQ integrated Experian Boost into its lending workflow, helping applicants connect bank accounts to add on-time utility and telecom payments to their credit files in real time. The change produced immediate score uplifts for many applicants, enabling the lender to move borrowers into better risk tiers, offer lower rates and fees, and increase approvals and conversion while maintaining a seamless customer experience.

Spring EQ

Bill Merryman

Universal Credit Services President