Founded in February of 2011, Rapid Restore Credit Repair primary objective at that time was to provide a solution for the many families and individuals facing credit hardship after the Mortgage Crisis and Great Recession from 2007-2010. Instead of waiting for information in your credit reports to be updated by the next billing cycle, you can have that information updated with the help of your lender within days. Serves Portage, Michigan. Updating credit report information for a rapid rescoring of your borrower's credit is simple in the Avantus system. Well, a credit rapid rescore could be completed in 5 business days or less. If you have any questions However, Credit Plus, Inc. does not guarantee that updates and/or corrections made to the consumer’s national credit file will improve the consumer’s credit score. The best possible documentation is a letter from the creditor. The non-FICO scores are called "educational" credit scores or FAKO scores by some. Experian has a credit score for educational use only (Plus Score) between 330 and 830, and Experian Scorex PLUS score is between 300 and 900. Note: Liabilites in dispute require special attention for Fannie Mae underwriting. Preferred Lenders/ Vendor. Some classes are product-oriented, others offer industry education and training. Build Loyalty. scores. We offer Rapid Rescoring to anyone that needs it. It's not a cure-all, however. A rapid rescore is a tool that lenders have for situations just like this. What can a Rapid Rescore update? Typically, rapid rescoring is reserved for mortgage loan approvals, but is possible for auto loans as well. A rapid rescore is a method by which you can raise your credit score quickly by submitting proof of positive account changes to the three major credit bureaus . The process can lift your score by 100 points or more within days when erroneous or negative information is cleared from your credit profile. (23) Skip's Painting LLC Jenison, MI, 49428 (616) 217-9472 If you need professional painting service in Jenison, MI and its surroundings, this is the company for you. Score Plus, our rapid rescoring program, enables you to quickly update information at the three national credit bureaus so your borrower can get the most accurate score – and qualify for the loan he/she wants. Rapid Rescoring. Skip's Painting LLC. Wallpaper Removal. Contact us today to discuss your Rapid Rescores A rapid rescore is usually recommended by your lender when your current credit score falls within a few points of the score that is needed to qualify for a better rate or loan terms. If borrowers need to rapid rescore ten credit tradelines, it can cost $1,000. - Select ‘immediate’ timeframe for Rapid ReScore (to prepare for a Rapid ReCheck) . This is considerably quicker than the monthly timeline in which your credit is commonly updated. Mortgage License Search. Credit Assure. Local: 305-468-1560. If you use a rapid rescore to get a loan, your very next step should be to follow up with the credit bureaus and have your report fixed. Rapid Rescore is also used to correct errors on a credit report: A credit rescore client’s updated information is provided to a third party credit agency. Use Birchwood's premium Rapid Rescore service to quickly and accurately correct and update your borrower's credit score. From there, they’ll do a diagnostic to determine which credit bureau is dragging your average down, and which needs to be rescored. Credit Plus will forward documents supplied by your borrower directly to Equifax, TransUnion and Experian for a rush investigation. Rapid rescoring is not credit repair and is not a dispute process. Loans and inquiries that are removed during a rapid rescore are still on your credit report. Our main focus was to help families and individuals recover after financial hardship. Under Add-On Products (menu on right) 3. A Credit Rescore is a streamlined way to correct or remove inaccurate information in a borrower’s credit report, either from one or multiple bureaus. If in the process of buying a home, this may be too long. A rapid rescore is a way to get more current information onto your credit report, usually for the purpose of securing a mortgage (although it might be used for other lending purposes). Credit Plus University is our FREE, online training center that offers a variety of classes designed to help you succeed in the mortgage business. Rapid rescore is used by mortgage lenders to help prospective borrowers update their credit files with positive information within a few days. What is Rapid Rescoring? Rapid rescoring is a service offered by some lenders, including banks and credit unions to make updates to your credit reports. The goal is to improve and update the information in your credit reports considerably quicker than if you were to work directly with the credit bureaus. Normally it takes 30-60 days but with rapid rescoring, you can update your credit within 3-5 days. By reflecting the most recent positive information your credit score will increase to meet ... The credit rescore turnaround time depends on the following Please fax completed form to 623-889-8998 or email it to delia@advantagepluscredit.com. A rapid rescore is a service offered by some lenders, including banks and credit unions, to request a fresh and current version of your credit report in a matter of days. A rapid rescore can cost between $25 and $50 for each account on each credit report but luckily, your lender pays for the service. The rapid rescore program is not credit repair, but a fast acting reporting service. The credit simulators helps lenders determine what improvements on your credit report will have the strongest impact on your credit score. Waiting 30 to 60 days for a change on your credit report could jeopardize the home sale. The following items are accepted by the Bureau for a Rapid Rescore: Very specific letter from each credit grantor on their letterhead and/or collection agency authorizing correction, update or deletion. Address: 2701 E Atlantic Blvd 2nd Floor, Pompano Beach, FL 33062. It's not just for mortgage lenders. Rapid rescoring is a service that mortgage lenders provide to homebuyers whose credit scores might need just a little bump. Results are often processed in three to five business days and include an updated FICO score, so you can respond quicker with the right loan products for … Subscribe now! There Is a Fee. After our credit analysis discovers the best actions to take for improving credit and the borrower takes all the appropriate steps, our Rapid Rescoring Service will expedite the process of … What-if Simulator. HOW TO Order Rescore Express Once you log in to Advantage Credit’s secure site From the Recent Request section click Credit link 1. A rapid rescore is when a loan officer requests a borrower’s credit profile update through a credit service provider like Credit Plus in a rush. 0:00 / 1:10. Credit card companies typically update balances to the credit bureaus every 30-90 days. Select (check box) the Tradelines you would like to update at a bureau level 5. Lenders will do a rapid rescore and/or credit supplement through a third party credit vendor ; Third-party credit vendor will take proof of payoff from the credit card company and notify the three major credit bureaus and provide them with the proof of payoff; The credit … By submitting this Rapid Rescore Request form, you acknowledge and understand the requirement of the repositories (Bureaus), that any cost associated with a Rapid Rescore cannot be directly or indirectly passed on to a borrower. 3 Offer rescoring to help give your applicants better rates so you can close the deal. A rapid rescore is a method by which you can raise your credit score quickly by submitting proof of positive account changes to the three major credit bureaus. The process can lift your score by 100 points or more within days when erroneous or negative information is cleared from your credit profile. A "rapid rescore" is a service that lenders use to get recent updates to your account history reflected in your credit reports in an accelerated time frame. We can even tailor classes to suit your organization’s specific needs. Pompano Beach, FL. A Rapid Rescore is a process by which a Credit Expert submits proofof recent changes made to accounts that will help increase the credit scores. So, even if there’s just one item to update, that can add up between $75 and $150. Rapid rescoring can help boost your credit score by up to 100 points in just a few days. Rapid 48 Hour Credit Rescore. Click on the File# to view an existing credit report 2. The rapid rescoring company will typically evaluate your credit history and ask you how many points are needed to get that loan approval or that lower interest rate. •. A rapid rescore is a process that mortgage lenders use to manually update your credit report information with the credit bureaus so that your score can be recalculated quickly. A Rapid Rescore may improve your borrowers Credit Score. Consumers need proof and documentation of credit tradelines they need rapid rescored. It has to be done with each individual credit bureau. Rather than waiting for a credit report to cycle and let a score go up on its own, the lender can provide the credit reporting agency with proof of the item that has changed since the last report and ask for … Aggressive Credit Repair/Disputes On ALL BUREAUS ON ALL NEGATIVE ITEMS Unlimited Rapid Rescoring ® Verification of Debt (VOD) letters to all creditors New Trade lines to help strengthen your credit profile 13 Point Credit Report Analysis including payment history, credit utilization ratios, inquiry count, derogatory account info, public records filings, and personal profile. Mortgage lenders check borrowers’ credit reports for a good and simple reason — to ensure they can afford a home loan. The Score Plus program allows Credit Plus to update credit information with the three national repositories in 5-7 business days. CISCO is able to submit the proper paperwork directly to the national bureaus and in 48 hours we are able to update the borrower’s credit report and change their credit score(s). Big drop in interest rates! Rapid rescore changes are performed at the bureau level and permamently affect the consumer’s profile. On a normal credit bureau update, it could take a few days to potentially 30 – 45 days. The average increase is 17-25+ points per account! ABOUT RAPID RESTORE. Frequently Asked Questions. Birchwood’s premium Rapid Rescore service helps you position yourself as a critical ally and consultant with your customers. Find the target trade line in the trade line list: Any tradeline/public record currently reported on borrower’s credit profile This is used especially if a consumer has made early payments on any outstanding credit, removed any negative entries on their credit report or recently paid back any debt. For every item that’s updated or removed from your credit report, rapid rescoring companies charge an average of $50 per item for each credit bureau they report to. There is a cost involved with rapid rescoring. How Much will Rapid Rescore Increase my Credit Score? Rapid Rescore The RAPID Rescore service enables CIC to update the consumer credit information with the three national repositories of consumer credit information within 3 to 5 days. Not a guaranty. How Long Does it take to process a Rapid Rescore? Phone number and person’s name to contact. Live. Credit rapid rescore is used by most mortgage brokers to update or raise a lower credit score in a matter of 3 to 5 business days. A rapid rescore is a two-step dance. Click on Request Rescore Express 4. Rapid Rescoring Can Boost Your Credit Score! - If credit report is not expected to re-pulled immediately, select the timeframe that reflects when the credit report is expected to be re-pulled, up to 24 months. Credit Analyzer Notes on Actions (source: Credit Plus) About rapid rescoring disputes: After paying down accounts or transferring balances, you may need to gather some documentation from your creditors and give it to your loan officer to complete your rapid rescoring disputes. But sometimes credit problems are on the reports, which can lead to the loan being denied. Click here to read about Liabilities in Dispute. So if a borrower needs to do a rapid rescore on one credit tradeline, it will cost close to $100 to get it updated on all three credit reporting agencies. Normally it costs $30 plus per credit tradeline per credit bureau. First, corrected or updated information is verified (by the mortgage lender’s credit reporting entity), and then it’s submitted to the credit bureaus. Our rapid Credit Rescore gives you a properly updated score within 3-4 days so you can quickly qualify your customers for a better loan program and increase your bottom line. Succeed Today. Rapid Rescore Glossary Rapid Rescore- process originally offered to mortgage applicants in order to update documented account information to the credit bureaus in 72 hours to increase credit scores.The most popular type of accounts updated are credit card accounts. Loan officers can help mortgage borrowers to raise their credit scores and lower debt to income ratios to qualify for mortgages by using rapid rescore. Our updates go out to all 3 credit bureaus to ensure your higher credit scores are on all 3 reports. Rapid ReCheck provides a fast and efficient way to update incorrect or outdated information present on an Instant Merge three-bureau credit report. Read the latest article in the Credit Plus Knowledge Hub: How to Order a Rescore A rapid rescore is a method by which you can raise your credit score quickly by submitting proof of positive account changes to the three major credit bureaus. Credit Analyser. Rapid 48 hour credit Rescore is an agreement between CISCO and the 3 national repositories. Most rapid rescores are done in three to five business days.
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