How to Repair Credit Score Figures for Your Borrowers

Posted By : Aubrey Mead , on Jun, 2018

 

If you are a lender or a broker, you know the importance of bringing in well rounded, creditworthy applicants for the programs offered. Yet, it is not always easy to do this right now. You need to provide your borrowers with insight and information on how to repair credit score numbers to qualify for the programs you offer. It is important to do this for several reasons. First, you want to be sure your clients have a solid understanding of what your expectations are. You also want them to see you as a solution to their concern. With the help of a few tools, you can provide them with significant support.

How to Repair Credit Score

How do you tell your applicants to improve their credit score? Lenders can use a third-party website or e-learning tool to help them. You can sell this service to your clients, or you can simply offer it to them for free. The goal is to help your in-trouble borrowers to get the information they need. Do they know what a FICO score is? Do they know what factors into it? What about the overall importance of having a solid credit score before they invest in a new loan, car, home, or other investment? Many times, borrowers simply lack this key information. You can supply it to them.

The good news is you can teach them how to repair credit score information without investing any additional time on your part. If you choose an e-learning program or tool, they will learn what they need to do, in a step by step program, to help them to improve their score. And, at the end of the day, this means you can achieve the goals you want in lending to this applicant down the road.

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