Tag Archive: credit scores

May 05

CreditXpert™ – New Page Added

There is a new page added to the Buyer’s Section – CreditXpert™ .  It explains how the service helps our clients save thousands of dollars by fine-tuning the structure of the debts listed in a credit report.

This service is provided by CBCInnovis, the company that assembles our credit reports. 

Traditional credit repair companies advise borrowers to dispute accurate information that is negative in nature and that is illegal.  CreditXpert™ does not make suggestions that are dishonest. There is a big difference between lying about what is contained in a report and structuring the content in a positive manner.

This is a major innovation. It will only make suggestions that are 100% legal, and it is provided by the same company that compiled the original credit report, straight from the horse’s mouth. 

Sorry about the horse reference, it is Derby Day after all.

CreditXpert™ will help most home buyers achieve the next best credit position above their existing credit score. This can save a fortune in closing cost and or interest.  Both of these are related to the credit score. 

It can also be the difference between a loan application being approved or declined. All automated underwriting software weighs the entire contents of an application including the credit report.  The more the contents of the credit report matches the approval matrix of the AUS the more likely the application will be approved and the better the terms of the loan will be.  

Check out the New Page.

 

Apr 17

New Pages Added to the Credit Report Section

The Credit Report Section continues to grow.  A couple of new pages added recently, What is a Credit Score and Why Are Credit Scores Important

Coming soon is a page dedicated to taking the information on these two pages and turning it into cold, hard cash!

As always, my position is, “It’s not how much you pay for a house, it’s how you pay for it that matters”. 

 

 

Apr 16

Credit Reports – New Section Added

We have added a new section to assist Kentucky residents understand credit reports.

Credit issues are becoming more frequent as the quality control measures of the underwriting process are tightening up.  We thought it would be helpful to explain the process and help everyone understand credit reports.

It contains a sample of a tri-merged credit report similar to what lenders use to process a loan application.

This section will be an ongoing project but it is off to a good start.

Mar 25

Legal Credit Repair with CreditXpert™

Everyone that knows me professionally is aware of my opinion of the credit repair industry.  It is my belief these guys are the root of the mortgage meltdown. These guys call frequently asking for my turndowns, loan applicants that have had an application rejected. 

Traditional credit repair is based on lying about what is contained in the client’s credit report.  They instruct the client to dispute everything on the report that is negative in nature, even if the information is correct.  These snake salesmen attack the soft underbelly of the credit industry.  Federal laws place the responsibility on the credit grantor to prove the information is correct.  And the timeline to answer a dispute from a creditor is very short.

The credit repair guys know if you dispute everything some of the credit grantors will not respond or may even be out of business and therefore unable to respond.  It’s a numbers game, dispute everything and some of it will go away making the client’s credit score improve.

The only problem with this tactic is it isn’t legal.  If the client knows they were late on a payment and lies about it by disputing the information in order to be approved for a mortgage then it is fraud.  And mortgage fraud is a very, very serious crime. 

I order all of the credit reports for my loan applicants from CBCInnovis.  They recently hosted a seminar for my company and introduced us to a legal alternative to credit repair called CreditXpert™.  What a fantastic product!

It is a web-based software program that reviews an individual’s credit report and makes suggestions of what can be done to increase the credit score.  It is common knowledge that when credit cards are maxed out the credit scores will plummet.  CreditXpert™ will not only make suggestions, it estimates how much each action will add to the credit score.  It doesn’t suggest doing anything wrong, it just fine tunes the debt structure to maximize the credit score using the same matrix used by the credit bureaus.

Buying a property in Kentucky and want to use  CreditXpert™? Visit my online application site or printand use this simple form to get started. If you prefer we can do it over the phone, call my direct line during normal office hours, (502) 753-4127.

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