Rescore
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What is a Rescore?
- July 28, 2022
- Posted by: Mindy Leisure Director of Rescoring Services
- Category: News
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What Exactly is a Rescore?
- November 30, 2017
- Posted by: Joel Firestone (G-Net Consulting)
- Category: News
A “Rescore” is the updating of information on a credit report at the bureau level in an expedited manner. It is not credit repair and it is not a manipulation of the credit report. Eventually the changes that are made through a rescore would be reported at the bureau level by the creditor. A rescore
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Experian® to Reverse New Rule
- January 27, 2015
- Posted by: Joel Firestone (G-Net Consulting)
- Category: Press Releases
Evergreen, Colo., January 27, 2015 – Experian® has agreed to reverse their newly instituted rule about removing dispute remarks. The rule stated that a letter from the creditor was required to remove any dispute remarks during the rescore process. Effective immediately, they have agreed to go back to accepting letters from borrowers. Experian® was open
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Handling Accounts That Are Shown as Disputed on the Credit Report
- February 6, 2014
- Posted by: Joel Firestone (G-Net Consulting)
- Category: News
When an account on a credit report has a dispute remark on it, an automated underwriting system (AUS) will pick up that remark and show it as a “refer” or an “ineligible”. Per Fannie Mae guidelines, the remark must be removed at the bureau level in order to run the report through the AUS. If
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The Magic of 24
- January 16, 2014
- Posted by: Joel Firestone (G-Net Consulting)
- Category: News
24…that is the average number of points scores increased in 2013 as a result of a rescore. Think about it…how many more loans could have been closed with an extra 24 points? Rescores had an average success rate of 91% in 2013 with 60% of those rescores being accomplished simply by the borrower paying down
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Can A Borrower Pay For A Rescore?
- October 31, 2013
- Posted by: Joel Firestone (G-Net Consulting)
- Category: News
In a word… no. Per all credit reporting agencies’ contracts with the national credit bureaus, “any costs or fees bureau charges client for the service will under no circumstances be charged back to the customer, either directly or indirectly…” The reason for the credit bureaus implementing this policy over 15 years ago is based on