When to use credit improvement services:

Low credit scores are a common source of friction in the mortgage process because client scores are often lower than expected resulting in eligibility and pricing implications. When your borrower is on the cusp of a qualifying credit score or a few points away from preferable pricing, you may want to recommend a credit review or credit repair service. Morty’s has a variety of partners that can help improve your clients’ FICO scores both prior to and during an application.

Curu

Morty partners with Curu for credit repair services. Curu specializes in nurturing borrowers who have been denied a mortgage, developing tailored recommendations to help them build a stronger credit profile. Curu is best for borrowers who were formally denied for credit reasons and want to re-apply when they become eligible. 

To leverage Curu’s services, please direct your customer to the landing page: https://adcuru.page.link/FsPF

Curu is a credit repair service that we’ve partnered with to help with boosting credit scores, expense consolidation, and relieving or refinancing debt. There would be no cost to you unless you sign up for a 3rd-party solution, in which case you’ll know beforehand whether there is a cost associated. Since you’re mainly looking to monitor and forecast potential changes to your credit profile & score, I think it’s worth looking into their “Boost My Credit Score” option as they may be able to provide you with some estimates around changes to your credit utilization that might take place within your purchase timeline. Once enrolled, Curu uses a soft credit pull to allow you to monitor your credit score. The only time a hard pull would be incurred is if or when you apply (or reapply) for any lending solutions.

What If / Wayfinder

Morty’s credit information provider offers score simulation tools. These tools, available within 30 days of the original credit pull, do not re-pull credit and do not require separate permissions from the borrower. The “What If” report shows the estimated credit score impact of various actions (e.g. paying down a tradeline). A “Wayfinder” report generates specific recommendations for score improvement and estimates the associated score impact. These tools are most effective for borrowers who are on a tight timeline and aim to improve their credit score quickly.

To leverage one of these tools for your borrower, add a note in the Scenario Form or email support@morty.com. Please include your borrower’s target credit score and timeline. 

Rocket Credit Repair

(Only for loans-in-process with Rocket Mortgage)

Rocket Mortgage provides borrowers that have a loan-in-process with access to their credit repair team. This is a good fit for customers who would benefit from a modest score improvement or who have experienced a credit score drop that needs to be addressed. 

To kick off this process, you will need written permission from your borrower for a new credit pull. Please forward this, along with your borrower’s target credit score, to support@morty.com.