Rapid re-scoring should only be used as a last resort. Rapid re-scores are quite expensive for a lender tp do. This is due to the fact that the lender must incurr 100% of the cost associated with a re-score and it cannot be passed on to the borrower.
I have not seen the actual numbers in a while, but I think it is somewhere around $100+ per trade line. That can quickly errode the lender's profit on a loan.
Turn around time is several days at best.
Rodney Mason, NMLS #151088
Sr Loan Officer
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia with over a decade of mortgage lending experience.
Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePathÂ® | HomePathÂ® Renovation | HomeStyleÂ® Renovation | VA | USDA | GA Dream | Jumbo Financing.