In the past two months I have been reacquainting myself with the mortgage business after working in the Title Insurance and Realtor Training arenas for the past two years. Now I remember what I hated the most about lending...turning eager buyers away because of damaged credit.
So I went searching for an answer. I spoke to several different credit repair and credit optimization companies, and I even referred a few clients to them to see what they could do. Most were disappointing to say the least. One company kept calling my client to upsell him on better services that they could offer him if he wanted to pay more. He just wanted to buy a home. End of story.
In speaking to a long-time lender friend of mine she told me that she had the solution. She started her own Credit Optimization company. Would I like to join her? Heck Yes! So below is the rundown of what makes a good credit optimization company, and if you would like to refer any of your clients and give it a try, the company is Platinum Financial Services. Email me at tiffanylossing@gmail.com and I will contact you and/or your client. Or have them visit www.creditoptimizationresource.com
The goal is to get them into a home. If you are a lender the client will be referred back to you once derogatory items have been removed from the report. If you are a Realtor, you now have a client who is in a much better position to buy and save a lot of money on their mortgage and insurance products.
WHAT MAKES A GOOD CREDIT OPTIMIZATION/REPAIR COMPANY IN MY OPINION?
They do not make promises that seem too good to be true. Each credit report is different, so each case is different. There is no way to guarantee which items can be removed until the credit bureaus are contacted and the client receives the response by mail.
A good credit optimization company will not simply claim that the derogatory credit items are not your clients. This is how items return to the credit report. The US Congress has enacted a set of laws designed to protect consumers that require the credit bureaus to report only verifiable and accurate information on consumer credit reports. There are rules for how derogatory credit items must be investigated and treated if challenged. A good credit optimization company will dispute the right of the bureau to report the information, therefore removing it permanently.
A good credit optimization company will have the client, the loan officer, and the Realtor's best interests in mind. This is a relationship business, so good communication is key. The client should have realistic expectations set in the beginning of the process and all lines of communication should be open.
In this challenging market, it is more important than ever to offer your clients an option when they want to buy, but cannot qualify due to credit challenges. A good credit optimization company can turn shoppers into buyers!
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