Credit Plus helps mortgage professionals' borrowers obtain credit scores they need for refisMortgagePress.comCredit Plus, credit scores, ScoreWizard, Steve Grant, FHA
Credit Plus, Inc. has announced that mortgage professionals can
increase their closing rates on refinance applications by properly
educating potential borrowers on how to raise their credit scores.
Through its proprietary scoring tool, ScoreWizard, more than half
of applicants in the 660 to 679 score band can obtain a score of
680 or more, the number needed to qualify for most prime
mortgages.
"Currently there is a lot of credit activity for refinancing.
Unfortunately, there is not much success as many potential
borrowers are being turned away because their scores are not high
enough. Were working with mortgage professionals so they can help
those applicants qualify for a better rate," said Steve Grant,
president of Credit Plus.
According to The Wall Street Journal, the FHA has
received 287,000 refinancing applications and has closed on 117,000
mortgages since September.
Through Credit Plus scoring tool, ScoreWizard, mortgage
professionals can review negative and positive factors influencing
the credit score. The program provides recommendations on how to
improve the persons score including a What If Simulator wherein
certain actions such as removing accounts and correcting errors can
be explored. In addition, Credit Plus Score Plus department updates
and rescores credit files in as little as 72 hours.
To help educate mortgage professionals, Credit Plus offers free,
one-hour online training sessions. Topics covered include how to
properly read a credit report, how to use ScoreWizard, and advice
on how to increase credit scores.
For a class schedule, please log-on to www.creditplus.com or e-mail
[email protected].
