Palm Harbor Reduces Credit Risk Assessment Costs Using CreditBrowser

Addison, Texas (March 17, 2015)

Digital Matrix Systems, Inc., (DMS) is partnering with Palm Harbor Villages Inc. to reduce the costs of pulling credit through the use of its premier web-based access tool, CreditBrowser®. This risk management approach has saved Palm Harbor over $100,000 annually.

When Richard Peck, vice president of retail operations at Palm Harbor Villages began looking for ways to cut costs and improve efficiencies in 2012, he reviewed a number of financial areas.

One area in particular intrigued him – the cost of pulling credit for customers who want to purchase one of Palm Harbor’s manufactured and modular homes. In 2011, the hard cost of pulling credit using a tri-credit bureau merge tool totaled about $250,000 annually. Palm Harbor enlisted the help of DMS to reduce these costs.

The Challenge
Palm Harbor had to maintain the integrity of the data needed while finding a more cost-effective way to obtain the information. DMS worked with Palm Harbor Villages to understand the company’s goals to retain and service as many loans as possible and its practice of using three credit bureaus. DMS determined that using a merged credit report, with scores from each bureau, was not necessary for the bulk of Palm Harbor’s business.

The Solution
After a thorough evaluation, DMS recommended an alternate origination path and waterfall practice that could significantly reduce Palm Harbor’s credit data gathering expenses. DMS also recommended CreditBrowser, a data information portal accessed through standard Internet browsers.

With CreditBrowser, credit report data is presented in a single uniform, easy-to-read format regardless of the bureau(s) selected. Its consistent presentation and bureau code translation enabled Palm Harbor to focus on assessing credit risk rather than interpreting multiple bureaus’ data.

The Results
The ability to access any of the credit bureaus easily from CreditBrowser, and the introduction of credit bureau competition, provided over 60 percent savings for Palm Harbor Villages. The company has saved over $100,000 annually since 2012.

“DMS is thrilled to support Palm Harbor Villages in a way that is impactful to their business, and we’ll continue to seek further improvement through future CreditBrowser enhancements,” said David Graves, DMS executive vice president.

About Digital Matrix Systems, Inc.
Founded in 1982, DMS is a leading risk management solution provider that helps clients leverage the power of data to make better-informed business decisions. Through an integrated product suite, DMS delivers secure access to consumer and commercial credit bureaus, as well as specialty data providers. As a reliable partner DMS helps leading companies predict and manage risk in a variety of industries, including financial services, insurance, and brokerage services. The company provides data warehousing, advanced analytics, scoring models, and comprehensive consulting services, delivering strategic solutions tailored to each client’s business goals. For more information, visit

About Palm Harbor
For more than 35 years, Palm Harbor Homes has been setting the standard in building and selling innovative manufactured homes and modular homes. Creative floor plan layouts, attractive exterior options and the latest in interior options, upgrades and features have made Palm Harbor Homes the “go to” partner for many looking for a fast, well-built home. Palm Harbor Villages, Inc. is the retail division of the company. Both Palm Harbor Homes, Inc. and its subsidiary, Palm Harbor Villages, Inc., are owned by Cavco Industries, Inc. a public company traded under NASDAQ symbol CVCO.

Media Contact:

Kim Eakin
Director of Marketing