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Rapid Rescore Your Credit Report for Loan Approval - Part Deux
 
Rapid Rescore Your Credit Report for Loan Approval    
 
I wrote an article in July of 2009 that still gets tons of search engine hits…. Yet, it is still very misunderstood.  Rapid Rescore Your Credit Report for Loan Approval
Well, let’s go ahead and get this out right away….. It is a dangerous tool in the hands of a poor loan officer; that is for sure. But in the hands of the right Mortgage Loan Officer, it can be very valuable
Rapid rescoring a credit report is a tool that has been around for a while. I have used it since 2004 when I entered the mortgage lending business. I have a strong background in credit scoring and know that credit repair/correcting can cause more harm than good. I also know that taking the time to run a score simulator first is key to not messing up!! But if you have ½ of your credit report littered with collections….. Uh, well, please don’t even try. You are setting yourself up for disappointment.
Some facts:
Although considered a ‘gray area’ of RESPA by some…… I have yet to find anyone in the credit reporting business that does not consider it ... more

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