A Repository Update (Rapid Rescore) is an expedited change of consumer credit information at the repository level (Experian, Equifax, and TransUnion). This expedited process usually takes 3 to 5 business days versus 30 to 45 days.
Required documentation includes a letter from the creditor on their letterhead, dated and preferably signed with the consumer’s name and account number. Please ensure the exact actions requested are specified in the letter (deleted, paid off, status change, etc).
No Doc Rapid Rescore
Requires no documentation, however, the borrower’s authorization is required. The borrower should contact the creditor/creditors and provide verbal authorization to release information to all three credit bureaus. Additional fees apply. A new re-issuable credit report should be pulled once the changes are made. There are no guarantees items will be changed or that scores will increase.
Please Note: Not all creditors accept No Doc requests.
