Attention Mortgage Lenders: Here’s How to Unlock Extra Revenue Streams with Credit Repair Sales! - Credit Queen (2024)

Are you a mortgage broker? Then you know the struggle of dealing with loan leads that can’t qualify for financing. The reason? Poor credit. It’s a deal-breaker. But fear not! We have the solution for you in 2023: Sell credit repair services.

Ready to turn bad credit into a thing of the past?

Mortgage lenders, we have the perfect solution for you to help! With record low interest rates and a hot housing market, it’s crucial for first-time homebuyers to boost their credit scores.

Don’t worry if you service renters that are dreaming of becoming a homeowner but their credit is holding them back. Many mortgage companies now offer credit repair services to help improve their credit and get approved for a home loan.

In fact, partnering with FreedomPath can be a game-changer for mortgage companies. By helping people fix their credit, these companies gain loyal customers who will turn to them for their mortgage needs.

And it’s not just the lenders who benefit – if you have a credit repair company on your side, both you and your mortgage company can reap the rewards.

So, why not expand your lending horizons and add credit repair solutions to your business?

It’s time to create new revenue streams and build a customer base of people who qualify for loans after improving their credit scores.

Don’t let rejected applications go to waste – learn how to recycle them and guide borrowers through the process of credit repair.

Attention Mortgage Lenders: Here’s How to Unlock Extra Revenue Streams with Credit Repair Sales! - Credit Queen (1)

The best credit repair companies are known for helping consumers repair their credit profiles so they can qualify for mortgages, car loans, and more.

And it’s understandable why so many people need their help – one out of five Americans have errors on their credit reports. With a credit repair company by your side, you can rectify these inaccuracies and see a substantial increase in your credit score.

Here’s how credit repair works: a credit repair company leverages your rights as a client to ensure your credit reports are accurate, fair, and fully substantiated.

They’ll identify any errors or negative items dragging down your score, such as duplicated accounts or small collections. Then, they’ll contact the credit bureaus and use various acts to challenge the reporting of these items. In many cases, they succeed in wiping them off your record and boosting your credit score.

So, are you ready to help your client’s take control of their credit and unlock the door to homeownership?

Partner with FreedomPath the best credit repair software on the market today – it’s time to turn your client’s financial situation around and get approved for that dream home!

  • Say goodbye to bad credit and hello to homeownership with our credit repair services!
  • Boost your lending business by helping customers improve their credit scores and qualify for loans.
  • Don’t let rejected applications go to waste – learn how to recycle them and guide borrowers through the credit repair process.
  • Say goodbye to hassle – become a trusted advisor of FreedomPath’s DIY credit repair platform and watch your business soar.

Imagine this: Your client’s credit score is in the dumps. They’re desperately seeking a mortgage but getting approved seems like finding a unicorn in a haystack. A low credit score means lower loan amounts and sky-high interest rates. Yikes!

But fear not, mortgage superheroes!

By partnering with us, you can help your clients rebuild their credit, making them eligible for a mortgage that doesn’t make their wallets cry. And guess what? You’ll reap the benefits too!

First, let’s talk moolah.

When your clients can qualify for a higher loan amount, it means more profit for you and your mortgage company. Cha-ching! We’re talking about making it rain in the mortgage game.

But that’s not all, folks!

You’ll also have more mortgage choices in your arsenal. More loan options mean happier consumers with lower-priced loans. Not to mention, you’ll be the hero who helps them transform their financial lives.

Here’s why you should jump on board:

Believe it or not, up to 80% of credit reports contain errors. Yep, mistakes happen. Sometimes a negative mark is reported twice, doubling its impact on the score. And don’t even get us started on items that should have dropped off but are still hanging around. With credit repair services, you can kick these incorrect items to the curb.

Remember how strict mortgage lending standards got after the 2008 financial crisis? Well, they haven’t exactly loosened up completely. But credit repair services can give your clients a much-needed boost. With a 20-point increase in their score within a few months, they’ll finally be in the golden zone for better loan options.

Sure, clients could try to fix their credit on their own. But who has the time and patience for that? Dealing with all those negative marks is a paperwork nightmare. Be the hero they need and offer credit repair in your “one-stop shop.” It’s the shortcut to closing the deal.

Say goodbye to manual credit analysis and writing letters to the credit bureaus. Mortgage brokers can now upgrade their game with FreedomPath financial software. It analyzes the credit report, gives suggestions on score improvement, and even generates those crucial deletion request letters. It’s like having a credit repair expert in your pocket.

Want to increase your closing rate? Offer more services. People love one-stop shops! By adding credit repair to your arsenal, you’ll be a magnet for borrowers. They’ll flock to you because you make their lives easier.

Who doesn’t want that?

Bottom line: Mortgage brokers who offer credit repair services close more loans and have happier customers.

It’s a win-win. But remember, choose your credit repair partner wisely. Look for reputation, experience, and a physical office. Don’t risk working with shady online-only companies. When you do it right, you’ll be swimming in closed loans and cash. Don’t miss out!

So, buckle up, mortgage moguls! It’s time to save the day, one credit-challenged client at a time.

Get ready to make dreams come true and rack up those profits. Let’s do this!

So there you have it – credit repair is the secret weapon for mortgage lenders and borrowers. It’s time to take advantage of this opportunity to grow your business, help people achieve their dreams, and have a chuckle at those bothersome errors on credit reports.

Discover the power of credit repair for mortgage companies – it’s time to unlock new opportunities and help more people become homeowners.

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FAQs

Which credit law requires a lender offering you a credit card to tell you how much your APR will be? ›

The Truth in Lending Act, or TILA, also known as regulation Z, requires lenders to disclose information about all charges and fees associated with a loan. This 1968 federal law was created to promote honesty and clarity by requiring lenders to disclose terms and costs of consumer credit.

What strategies could you use to help rebuild your credit and qualify for a good mortgage with a competitive interest rate? ›

How to improve your credit score before getting a mortgage
  • Check your credit reports and scores.
  • Pay all your bills on time.
  • Reduce your credit card balances.
  • Avoid opening new accounts.
  • Get help from a responsible credit user.

What is the 525 rule for credit cards? ›

Chase's 5/24 rule means that you can't be approved for most Chase cards if you've opened five or more personal credit cards (from any card issuer) within the past 24 months.

What is the new credit card debt law? ›

The Consumer Financial Protection Bureau's new regulations will set a ceiling of $8 for most credit card late fees, or require banks to show why they should charge more than $8 for such a fee. The effort will save Americans up to $10 billion a year, the agency estimates.

How can I raise my credit score 100 points overnight? ›

5 Ways to Boost Your Credit Score Overnight
  1. Review Your Credit Reports and Dispute Errors.
  2. Pay Bills On Time.
  3. Report Positive Payment History Like Utilities to Credit Bureaus.
  4. Keep Old Accounts Open.
  5. Keep Your Credit Balances Under 30%
May 12, 2024

How to increase credit score quickly to buy a house? ›

How to improve your credit scores before buying a home
  1. Check your credit reports and scores. ...
  2. Select your target credit scores. ...
  3. Pay your bills on time. ...
  4. Raise your credit limits and reduce your debt balance. ...
  5. Avoid applying for new credit accounts. ...
  6. Consider credit counseling to get a handle on significant debt.

Which bank is best for a mortgage loan? ›

Best mortgage lenders
  • Ally: Best on a budget.
  • Better: Best for FHA loans.
  • Bank of America: Best for closing cost assistance.
  • USAA: Best for low origination fees.
  • Veterans United: Best for VA loans.
  • New American Funding: Best for custom mortgages.
  • Chase: Best for discounts.
  • SoFi: Best for quick closings.

What law requires the lender to show the APR? ›

The Truth in Lending Act (TILA) protects you against inaccurate and unfair credit billing and credit card practices. It requires lenders to provide you with loan cost information so that you can comparison shop for certain types of loans.

What is 1 law from the Credit Card Act of 2009? ›

The CARD Act prohibits double-cycle billing and requires credit card issuers to calculate interest based on an account's average daily balance from the most recent billing period.

What does regulation Z require? ›

Created to protect people from predatory lending practices, Regulation Z, also known as the Truth in Lending Act (TILA), requires that lenders disclose borrowing costs, interest rates and fees upfront and in clear language so consumers can understand all the terms and make informed decisions.

Does regulation Z apply to credit cards? ›

Regulation Z rules govern how credit card issuers may calculate minimum monthly payments, unless the card is secured by a home. There are additional requirements for three-year repayments. On every monthly credit card statement, the card issuer must …

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