So we all make mistakes, right?
Some worse than others of course.
Some correctable - some not.
When a mistake impacts one of our clients, and in turn one of our loans, we assist them in righting that wrong.
One of the many advantages of using a broker is that not only are we originating your loan, but we’re also your chief advocate in terms of getting your loan across the finish line and swatting away anything that may jeopardize your closing or cause significant delays.
The bank or lender doing your loan may not be as eager to roll up their sleeves and dig into matters that are outside of their concentrated area of focus.
Remember, the bank doesn’t work for you. We do.
So the onus is not on the bank. It’s on you and us together to clear the path for the bank to fund the loan.
It’s a service that’s nearly impossible to quantify, but also invaluable when needed.
The latest example is an SBA 7(a) loan we have in process with a repeat client.
Her credit score went from 710 to 640 in less than 30 days, due to an inaccurate late being reported on her credit report.
We’re in the process of resolving this matter with her and for her, but it’s caused unnecessary delays and anxiety for everyone involved.
Hopefully our dispute will go better than Billy Martin’s does here - We’ll let you know : )
Two Final Notes:
1) Although we’re able to place SBA loans in the low 600’s, it limits our offering to the borrower, and we pride ourselves on being able to present our clients with multiple options instead of just one.
2) If you find yourself in a similar situation, I’ve attached the links to initiate online disputes with all three credit bureaus.
Transunion - https://lnkd.in/g9jYWDpM
Equifax - https://lnkd.in/gXRE-PkG
Experian - https://lnkd.in/gXc683-p
Lastly, errors on credit reports happen far too often. In fact, according to the FTC, approximately 25% of US consumers have reported mistakes in their credit profiles.
If you are having a similar a similar challenge. Please reach out today.
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