Credit ReScore

A Credit ReScore will reduce loan fallout because lenders can quickly and efficiently update a borrower’s tradeline information with the three national repositories. Orders are placed online through Informative Research’s Web Credit System. With supporting documentation from your borrower Informative Research can validate and process an order within three to five business days.

What can a Credit ReScore update?  

  • Correct an account that is reporting in error
  • Remove late payments
  • Remove derogatory information
  • Remove Dispute Comments with a Consumer Dispute Removal Letter
  • Update an accounts outstanding balance
  • Update an account that is not associated with the borrower
  • Update liens, bankruptcies or judgments

The Bureaus will accept the following documents:

  • Current statement or online printout that MUST:
    • List at least a portion of the account number
    • Reflect current date with the exact change (balance) or update needed
  • Bureaus require that all documents submitted MUST:
    • Be typed on the creditor’s letterhead
    • Be addressed to the borrower(s)
    • Come from the creditor reporting the account
    • State specifically how the information should be changed or updated
    • Include the date, complete account number, name and contact phone number of the creditor
    • Reflect something done already and not something to be done in the future
      • For example the document must state that “the tradeline for John Doe has been deleted” instead of “the trade line for John Doe will be deleted”
  • Bankruptcy schedules:
    • Are acceptable to show an account has been discharged through bankruptcy, has a zero balance and to correct the last date reported.

The Bureaus will not accept the following documents:

  • Bureau Investigation Results
  • Cancelled checks
  • Computer Generated Payment Histories
  • Divorce Decrees
  • Escrow Papers
  • Handwritten Documents
  • HUD 1 statement or Settlement Statements
  • Internet court records or court documents that aren’t recorded by the court
  • Receipts
  • Trustees Deed
  • Universal Data Forms

 

Click here to download the products brochure.

Contact a Sales Executive for assistance with this solution.

 

** Disclaimer** The Fair Credit Reporting Act prohibits all costs & fees associated with the Credit ReScore from being billed back to the customer / consumer, either directly or indirectly. Credit ReScore is a business-to-business transaction, not business-to-consumer. Mortgage Lenders and Brokers absorb all fees and costs associated with Credit ReScore as an operation cost of doing business.