test smed 7553

Whether due to job loss, shortened working hours, or the need to take off time from work to care for ill family members, the current COVID-19 outbreak will undoubtedly cause financial hardship for millions of Americans. Understandably, the current situation is causing some consumers to fear losing something they’ve worked incredibly hard for – their home.    For many, a home is the largest purchase they’ll ever make. We spend many years of our lives working to purchase a home and then many years after working to fill it with memories.   We understand how important it is for you to protect your home. Thankfully, we’re seeing mortgage lenders, federal associations and the financial industry working together in truly unprecedented ways to help consumers cope with new financial challenges brought on by COVID-19.    Last week, the Department of Housing and Urban Development, Fannie Mae and Freddie Mac — two of the largest mortgage services in the county — announced they are suspending foreclosures and evictions for at least 60 days. You can read more about this announcement here.  This was followed by New York, an area hit particularly hard by COVID-19, urging mortgage servicers to refrain from reporting late payments for 90 days. The order outlines ways lenders can provide support to consumers who are unable to make timely mortgage payments, including forbearing mortgage payments for 90 days from their due dates. As part of this, late payments would not be reported to credit reporting agencies like Experian for 90 days and consumers would not have to pay late or online payment fees. The order also postpones foreclosures and evictions for 90 days and requires lenders to proactively outreach to consumers, through text, email or other means to ensure they’re aware of the assistance that’s being offered. Los Angeles, Miami and other cities across the U.S. are now also halting evictions.   This news was shared in conjunction with Bank of America announcing additional support to borrowers, including the option to defer, or essentially pause, mortgage payments during the current outbreak. Many of the largest mortgage lenders in the country are offering the same support to consumers. Please note, the Department of Housing and Urban Development, Fannie Mae and Freddie Mac acted fast, and these are the guidelines as of the time when this article was written.  As things are still early, our Experian mortgage team will stay abreast with potential new developments and update this information if or as things will change.   These are unprecedented times and we are starting to see lenders and consumers engage in equally unprecedented ways as we work to overcome the new reality we’re all facing.   At the same time, we are seeing interesting trends unfold in terms of mortgage lending activity. According to the Mortgage Bankers Association, as of March 25, 2020, these include:   Refinancing existing mortgages, which has been booming with interest rates at historically low levels, declined almost 35% compared to the previous week, but is still twice as high as it was the previous year.  Not surprisingly, the states with the biggest declines are the states hardest hit by the COVID-19 outbreak (i.e. New York, Washington, and California)  In addition, with the economy under pressure, there was a nearly 30% decline in weekly new mortgage applications. If you or someone you know is a homeowner, I hope you found this information useful. Remember, if you are concerned you may miss a mortgage payment, the first and best move you can make, to protect your home and your financial health, is to contact your mortgage lender as soon as possible. Lenders do not want you to miss a payment any more than you do. They can discuss options for navigating these unusual circumstances.   Keep in mind, these programs are available to you if you are facing financial hardship due to the COVID-19 crisis, for example, if you lost your job or had to be hospitalized.  Of course, we’re all hoping not to be in either of these categories.  If you haven’t been financially impacted by the current COVID-19 crisis, you are expected to continue to make your mortgage payments (and meet all your other financial obligations).   You should feel good about being able to do that as it will make you part of the important group of individuals who can keep contributing to sustaining the American economy. 

Last year we revealed that there were around 5.8 million people in the UK who were virtually invisible to the financial system. These ‘credit invisibles’ might have limited financial data because they just turned 18 and are new to credit, or they may have recently moved to the UK. Alternatively, perhaps they conduct most of their transactions in cash or simply haven’t used credit for a long time.   Either way, we wanted to spotlight the issue, to explain how we can help people regain control of their financial footprints and ensure more people get access to affordable financial products and services. So, as our support for Credit Awareness Week moves into its fourth year, we decided to check in on our progress.   The positive news is that we have managed to reduce this financially excluded population by nearly half a million in the last 12 months, to just over 5.3 million – as the map below shows.   Credit Awareness Week 2020 offers us all the chance to reflect on all the hard work that so many of us have put into tackling financial exclusion. As a result of this work, more people can access the mainstream services they need, and many are paying less than they otherwise would have. Yet there is much more which needs to be done.   We need to continue to innovate and find new solutions to help widen affordable financial access for all. Promoting a better understanding of the things that people can do to help improve their financial track record. Together we can continue our mission to bring more people into the mainstream financial system and deliver better, more affordable products and services for everyone.   

We are proud of our workplace culture at Experian North America. Today, we released our third annual inclusion and diversity “2019 The Power of You” report. We encourage our employees to bring their whole selves to work and have created a culture of inclusion that helps to fuel our continued product innovation. Our Power of You movement began in 2017 to raise awareness about our efforts around inclusion and to provide employees with greater transparency of the initiatives that are part of this program. Progressive policies across a wide range of initiatives such as pay equity, paternal leave, flexible working arrangements and corporate social responsibility help to make our employees feel proud, committed and empowered to work at Experian. “Diversity of background, of experience and of thought bring new ideas to our organization which foster the innovation that helps to improve the lives of consumers every day. Our culture of inclusion and diversity underpins our business success which, underpins what our brand stands for,” said Craig Boundy, former CEO of Experian North America. “With the launch of our ‘2019 The Power of You’ report, we are excited to share how our inclusive workplace is helping to drive our culture of innovation.” Some highlights of our 2019 report include: We have 1,200 women in STEM positions 47% of new hires are women and 44% are non-white Women and men are promoted equally We created our newest ERG, Aspire, which focuses on mental health and physical disability awareness and caregiving We have a total of eight ERGs with 1,200 active participates Employees participate in events including charity walks, fundraising events, and toy and food drives, among others Events recognize International Women’s Day, Veteran’s Day, the Lunar New Year, National Coming Out Day, Cinco de Mayo, Asian Pacific American Heritage Month, Black History Month, Ramadan, Kwanzaa, Hispanic Heritage Month and Diwali, among others Employees spent more than 12,000 hours volunteering With the support of our employees, we donated more than $10,000 for California wildfire relief to the Red Cross Employees packed a total of 65,880 meals volunteering with Rise Against Hunger locations in Costa Mesa, Allen and Franklin, California We currently have 38 clubs with 800 members We rolled out a new Paid Family Care Leave Program, expanding on our existing Paid Parental Leave Program Additional programs include the launch of a new, enhanced Employee Assistance Program, which offers a greater level of resources and benefits for mental and behavioral health for employees and families and the Experian Hardship Fund, launched in 2018 to help employees who are facing financial hardship. We continued our Humans of Experian video series, which highlights the stories of employees who have unique backgrounds that enhance the diversity of our company. We also had hundreds of our employees from throughout the organization volunteer to personally evaluate Experian Boost™. Employees participated in this program because they believed in the product’s potential to help millions of Americans. At Experian, we continuously foster a culture of development and growth and we have various forms of mentorship, career paths and leadership programs to support our employees. Our commitment to creating an inclusive workplace has also received numerous accolades. We were named one the 100 Best Companies to Work For in 2020 and one of the Best Workplaces for Diversity in 2020 by Fortune and Great Place to Work. Additionally, for the second consecutive year, we were awarded a perfect score in the Human Rights Campaign Foundation’s 2020 Corporate Equality Index. Experian was also named a Top Workplace in 2020 in Orange County, Calif., by the Orange County Register for the seventh consecutive year, and one of the world’s most innovative companies by Forbes magazine for five years. A copy of this year’s report can be found here.  

Having a diverse workforce is vital to help us innovate and deliver on the needs of our increasingly diverse clients and consumers. Over the years, we’ve made some great progress, but there’s so much more we can do and it’s going to take the collective effort of all of us to continue to move the needle. That’s why we’re gearing up to celebrate International Women’s Day (IWD). It’s a day celebrated in many countries around the world to recognize the achievements of women and drive equality among men and women. At Experian, IWD activities are extending throughout the month of March. Have a look at what’s going on around the world as Experian celebrates this important day: Asia Pacific The Asia Pacific region is hosting a range of activities across our offices in March, which will include round-table and speaker events as well as an opportunity to network and pledge their support for IWD. EMEA and UK&I EMEA and UK&I are joining together for IWD to support and celebrate diversity and inclusion. The week started with a video of employees from both regions reflecting on what diverse teams bring to our business. Employees will also be invited to a variety of events to engage and network with inspirational women and hear stories from our leaders on what diversity means to them personally. Latin America Throughout the month of March, Latin America has been running a campaign to share stories of achievements in their region and raise awareness about breast cancer prevention and other diseases more common in women. On IWD, there will be a panel of women leaders who will address issues such as the social inclusion of women in the region, women’s participation in the labor market, Experian’s commitment to female leadership and the importance of a work/life In Brazil, IWD is kicking off with a presentation by members of the United Nations to present their 50-50 Gender Equality program (which aims to eliminate gender inequalities by 2030) and how they are working with companies around the world to achieve this vision. Employees will have an opportunity to hear from leaders in our business about diversity and inclusion plans for the region, and listen to a panel of external speakers discuss diversity challenges and career development. North America Our employees in North America will be kicking off the week with celebrations across their ITS’ 13 offices in the region. Each office will have daily activities throughout the week, and all employees – including virtual and those based in smaller offices – will be invited to attend webinars focused on Diversity and Inclusion topics. On IWD, there will be panel discussions with senior leaders who will speak on various career development topics. To close out the week, there will be a special Book Club discussion on March 9. We will continue to update this blog post all week with pictures and other ways we’re celebrating IWD. Bookmark this page and come back.

I work at SEGA, a global games company. I first met Nakamura-san, my contact at Experian, about eight or nine years ago. I remember telling him at the time that I was a little sceptical of credit report and analytic companies – I thought they were either too expensive or their reports weren’t detailed enough. However, a year later I needed help from a company like Experian, and I thought I’d put them to the test.   My team and I were starting to communicate with overseas markets, to work with companies around the world. So, I phoned Nakamura-san. It was a business negotiation, so I had my poker face on – I played the usual mind games you have to, insinuating that if Experian did this job well then our company might be able to offer them even more business in the future.   Safe to say, they passed the test. We’ve been building a really positive relationship with Experian for the last eight years.   We’re working with companies in Hong Kong, Taiwan and London at the moment. To work with them, we need information – for instance, we need to know if they’re actually located where they say they are. Even if a company gives us an address, it’s always possible that it operates from a different country – we’ve all heard about companies and their tax havens. When we have these questions, Nakamura-san and his team at Experian collect and analyse data on these companies, and give us very thorough information – breaking it all down and explaining everything to us really clearly.   It’s really difficult to get the rich, detailed analysis of data you need, but Experian provides us much better data than any of our previous credit research companies managed to. They consult with us, and help us use this data to get our business to a better place. I’m very grateful for it – they’ve added great value to our business. Mr. Shinji Mutazono, Team Manager, SEGA Group Companies Finance Department, SEGA Holdings CO., Ltd. 

In Malaysia, nearly 280,000 people live without electricity. By volunteering with the Liter of Light program, we’re bringing solar panel lights to remote villages, transforming the quality of life and brightening the darker hours for families. In Malaysia, more than 1 percent of the population lives without electricity – one of life’s basic necessities – which equates to nearly 280,000 people living in darkness after the sun goes down. Some people have never had electricity in their life, making simple tasks like cooking or reading nearly impossible after dark. I wanted to change that. My day job is to support and enable individuals within Experian to pursue various career opportunities, but what I’m most passionate about is the way Experian helps me invest in my local community through the Heart of Experian Corporate Social Responsibility program. This year, my team and I had the chance to collaborate with Liter of Light (LOL) – a global, grassroots movement committed to providing affordable, sustainable solar light to people with limited or no access to electricity. In February, we joined one of their projects to install 60 solar street lights in the village of Orang Asli, an indigenous community in the Cameron Highlands.   Over the span of two days in February, a group of 30 Experian volunteers built and installed the solar panel lights. On the first day, the LOL team taught us how to build the panels, teaching us the skills needed to cut wire, assemble PVC pipes and drill holes. The second day, we rode in Jeeps through muddy roads and a three-foot deep river to reach the village. We spent hours unloading the lights and assembling the panel boxes, plotting the village maps and identifying the right spots to install the solar panel lights. I was happy to see some of the local villagers’ curiosity and participation throughout the day. Some helped us assemble the lights while others prepared the right spots for installation by building bamboo stands. The weather was kind to us, so by 5 p.m., nearly all the lights were installed – just before dark! After completing all the hard work, our team recorded a group video using a drone that all of the Orang Asli children chased after. Thanks to our service project providing light to a village in darkness, 150 villagers in Orang Asli will now have more productive, higher-quality lives during the dark hours of the day. I’m so glad I got to play a role in that.