What is involved in rapid re-score?

Much more info needed.. and in all reality, the guy doing the rapid re score is the only one who can tell you what your "Potential" increase will be. Typically, a R/R is done when a borrower pay's down their credit cards and does not want to wait till the creditor reports to see the improved score.. so, you provide the documentation showing you have paid it down and what your new balances are, and the lender forwards that info to the credit agency.. The credit agency then makes the appropriate changes and once he's finished, he notifies your lender that they can now re pull the credit report. For one or two accounts, it should only take 3 to 5 days.. but I've had borrowers who had to do this with 10 accounts.. that's 10 accounts on 3 different bureaus, for husband and wife.. That's a total of 60 re-scoring's .. For my borrower, it took over 2 weeks.. Also, one of the tools we have available is called the "What if" Simulator.. this allows us to manipulate the balances in virtual reality to see what, if any, potential score increases there will be.. So before we ever do a re-score, we know exactly what our expectations will be.. This should be no different for your loan officer.. I would call them and ask the questions you have posted here.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Regulations require we have at least one item on your credit score that can be corrected thru the effort, and then we can use our rapid rescore tool on the part of potential home loan borrowers to determine what other steps to take (such as paying down revolving debt) and how many additional fico points you might achieve. It is not an exacting tool but can be quite close to what you will end up with. We submit via our intermediary company to the 3 major credit bureaus and it typically takes about 5 days to get our results. I have had increasesof less than 10 fico points on upwards to 100.