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Rapid Rescore Costs
Rapid Rescore Costs
What is Rapid Rescore?
A Rapid Rescore of a credit report is when a client provides documentation about erroneous information on their credit report…. And their Loan Officer submits these items to the credit bureaus to be updated. The loan officer doesn’t go directly like a consumer would. The loan officer will go through a 3rd party company that they use to pull credit. Examples are: Credco, Factual Data, ect…..
The Rapid Rescore process takes 3 – 5 business days. It has been my experience that these rescores are usually done in 2 – 3 days. The 3rd party companies I have used in the past have all been pretty quick about turn times.
How much does Rapid Rescore cost?
Rapid Rescore costs the loan officer(or, rather the lender who is being billed for credit pulls) about $35 per trade line per bureau.
So, if you need to correct 2 items on all 3 bureaus(Equifax, Experien, Transunion) then that is $35 X 6 = $210
Now, here is the good part!!!!
Of these 3rd party companies that I have used in the past…… Every one that I have ever discussed Rapid Rescore with has informed me that it is ILLEGAL to pass along the cost of ... more

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