Upset about Credco's $250 minimum monthly fee?

Services for Real Estate Pros with Birchwood Credit Services, Inc

Now more than ever brokers across the country are struggling to run profitable businesses.  In spite of this recent shift, larger service providers like CREDCO continue to create hurdles for beleaguered brokers.  New price increases and guaranteed minimums are sending a strong message to smaller brokers. 

1, 2008, First American CREDCO will implement a minimum monthly charge of $250, which will be applied at the customer level..... Additionally, due to increased repository costs, repository surcharges - inclusive of FACTA surcharges - will be increased to $.25 per consumer, per repository...."

With the continued mixed news in the housing and finance markets, brokers are looking for relief any where they can find it.  Increased regulatory burdens and decreasing profit margins have combined to make 2007 one of the most challenging years in recent history.  The latest announcement from CREDCO makes a clear statement to struggling brokers ""At Credco, the size of your business matters"."

This seems somewhat unfair in light of the very real challenges faced by the average broker.

For the past 14 years Birchwood Credit has provided credit services to banks and mortgage brokers across the country.  This is not the first time the mortgage industry has experienced a downward trend and they know it won't be the last. 

Their number one goal is to build lasting relationships with their clients, regardless of size or industry trends.  Their motto has always been, "Delight the customer."  This is not based on the volume of the business, it's based on a long term mutually beneficial relationship.

Volume goes up and sometimes volume goes down.  That's O.K.  Every Birchwood client has the right to excellent service at a fair price, without volume or price guarantees.

It's more than just service and price, with Birchwood it's about helping you grow your business.  Birchwood is clearly on the cutting edge when it comes to providing credit education to industry professionals and the clients they serve.  Now more than ever loan officers must have a strong understanding of the factors that adversely affect a potential borrower's credit and more importantly how to work with their credit provider to get to the real score.   That's just the beginning of the relationship.

Birchwood clients are not an ACCOUNT number or a volume minimum, there are real customers with real concerns.  If you are interested in learning more about becoming a Birchwood client, please visit their website at

Comments (4)

Eric Katz /

  What is your company position on credit repair by using rapid rescore? The credit agencies I have done business with require Rapid Rescore fees paid by the broker not the client.  These fees often amount to several hundred dollars with no guarantees.  I have contacted EFX, EXP and TRU and they do not offer these services direct to consumers. It's seems very unfair and cost prohibitve. Is there something I am missing.


Dec 19, 2007 05:07 AM
I ran into the same thing...I incurred the cost of a rescore to the tune of over $400 and the score actually went down  The "rescore" option is bogus. 
Dec 19, 2007 05:17 AM

Let's figure out another way to make tp delivery of professional service more costly to both broker and consumer.  The mimium fee charged by CREDCO is just another way a "large company supports another large company".

CREDCO could stand on the side of their customer and provide a strong foundation of support to those of us who want to provide a product and receive a reasonable return for our efforts.  The 3-bureaus have found a way to increace their profits without any increace in production or professionalism.

Any some of use wonder why the American ideals of "fair dealings and fair play" are not generally demonstrated in American business affairs.

Dec 21, 2007 11:11 AM
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

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