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Please advise me on this:

By Sam Sams

Services for Real Estate Pros

February 13, 2008 07:31 AM

I am employed in the credit repair industry. I have seen both sides of the fence. I have mortgage and loan officers that are calling me on a weekly basis to get their potential customers to me and I have talked to mortgage officers that run as fast as they can the other direction when they see me coming. Why do they do this? I can't hurt the customers credit. In 99.9% of the cases we increase the score and also remove bad items from the report and assist in adding good items back to the report. How can this be a bad thing? When you have been doing this for 10 plus years and have an awesome track record why would a mortgage office not want this "free" help? Someone please help me understand this thinking!

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Rick Callaham

Team Quintana Real Estate - Spokane, WA

Spokane Realtor

I don't know, the only thing I haven't liked about some credit advice is they want to take advantage of questioning things they know they are their. This to me is as bad as lying on their loan app.

Feb 13, 2008 07:41 AM

Sam Sams

Richardson, TX

I do agree with this. We will always question anything on a report but not to alwasy remove it. We also question if it is being properly reported. Remember in the credit world it is 100% right or 100% wrong. The company that reported the debt always 100% of the time has the ability to validate the debt or update the account. If its an honest company doing business according to the Fair Credit Reporting Act this should never be an issue.

Feb 13, 2008 07:45 AM

Jimmy McCall

JimmyMcCall.com - Cunningham, TN

The Ex-Mortgage Consultant

Darrell, Those mortgage originators don't want to be showed up or they are not disciplined enough to follow up with the client. So, once the client's credit has be improved he has no loyalty to the lender and goes somewhere else. If I were you I would offer some kind of system to show the originator that you will help them close the loan. Example: email campaign of 6-10 letters.

Print off copies of emails your will drip follow up with the client.
Place them in a presentation binder to show hesitant lenders.
Make sure to have something in each email about the lender (you can add "lender's name here" for presentation) who referred the client to you. "I was talking to (lender's name) about your situation and informed him you were on track...."
CC the email to the lender so the client knows you are staying in touch with the lender and it reminds the lender to follow up with the client. (you may even suggest the lender follow up on letters 1,4 and 8.)

Quick four steps. Simple. Let me know how it works.

Feb 13, 2008 09:14 AM

Great reply Jimmy. I deal with this pretty much on a daily basis.

What we do is sign and notarize a "Exclusivity and Non Solicitation Agreement". This guarantees's the mortgage officer that we will send the client back to them with a written guarantee. We also do email updates along the way with the client. Each email that we send would go to the consultant, the customer, and the mortgage officer so we can keep them updated on the progress of the client. They will get, in an email, every deletion, every letter being sent, and every other update during the process.

Feb 13, 2008 09:26 AM

Paul McFadden

Responsive Pest Control - Seattle, WA

Pest Control, Seattle, WA.

Hi Darrell: You're dealing with a "flaky" lot sometimes. I think you provide a great service. Amen to you and good luck!

Paul

Feb 13, 2008 09:57 AM

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Sam Sams

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