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 has a variety of partners that can help improve your clients’ FICO scores both prior to and during an application.

Soft Pulls

If your client has not pulled credit yet with Morty, they have the option to conduct a soft credit pull in the pre-approval on our website. This will only check their credit score at one of the three bureaus and is a good indication of general standing of their credit scores. Direct your client to create an account through your landing page in order to access this.

What If / Wayfinder

(Only for Morty customers who have pulled credit within the last 30 days)

If your client has already pulled credit through Morty’s website, the credit provider offers score simulation tools at a small extra fee. These tools 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, email support@morty.com. Please include your borrower’s name, email, target credit score and timeline in the email.

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.

More Information

CFPB: What happens when a mortgage lender checks my credit?

Investopedia: FICO 5 vs FICO 8