Rapid Rescore®
HomeStart’s trademarked Rapid Rescore® is the fastest rescoring service in the United States. Used with Credit Development, Rapid Rescore® can predict and generate new credit scores in as few as 5-7 business days!
Our service begins by predicting what changes to the credit report will result in a desired credit score. Then, we deliver new credit scores quickly, in about a week. We have a historical accuracy where about 90% of the time the new scores equal or a higher than our predictive tool suggests!
To offer an example of HomeStart’s predictive tool - Imagine that paying a balance on a credit card with a $5,000 credit limit from $5,000 to $2,000 increases your credit score by 20 points. HomeStart has the ability to see that paying the balance down to exactly $2,312 still increases your credit score 20 points (and that paying $1 less makes the 20 point increase will disappear). This gets you the score jump you want, but saves you $312 while doing it!
See below for pricing and for refunds available to clients of Mortgage Portfolio Services.
SERVICE PRICING
HomeStart charges the cost of a post- rescore credit report (about $50). Then, for credit items involved in rescoring*:
For 1 - 3 Items - $349.99 + Credit Bureau Fees; or
For 4 - 6 Items - $329.99 + Credit Bureau Fees; or
For 7 - 9 Items - $309.99 + Credit Bureau Fees; or
For 10 or more Items - $299.99 + Credit Bureau Fees.
If you do no know the exact number of credit items you want to use for new scores, choose the closest number and a final invoice will be sent to you once your credit report is accesses and discussed with you.
* 50% of all service fees collected will be refunded for MPS clients that close within 30 days of a Rapid Rescore®. Refunds are delivered approximately two weeks following the loan funding. Service fees do not include Credit Bureau Fees charged by credit bureaus.
All pricing subject to the HomeStart Rapid Rescore Agreement. The HomeStart Rapid Rescore Agreement can be viewed here.
