What is a 'rapid rescore'? What it is, and what it isn't

The mortgage meaning of 'rapid rescore'

When you apply for a mortgage, a lender may find that a documented change — a paid-off balance or a corrected error — isn't reflected yet in your file. The lender can ask a credit reporting agency to update the file faster than the normal cycle so a new score can be pulled for underwriting. It is initiated by the lender, with documentation, and the lender typically pays the fee.

What it can and can't do

• It reflects documented, accurate changes. It can't add positive information that isn't real or remove accurate negatives.
• It's not a way to raise a score on demand.
• Timing depends on the lender, the bureau and the documents, and is usually a matter of days rather than the normal reporting cycle.

What you can do on your own

You can't order a rapid rescore yourself, but you can fix the underlying problem. If an item is inaccurate, dispute it with the bureau; if you've paid something off, get written proof. Both make a later lender-requested update straightforward.

Where Rapid Rescore.com fits

Rapid Rescore.com is a different thing from the lender service: it's free software that generates FCRA-based dispute letters for all three bureaus, lets you mail them yourself, and offers optional paid mailing and notarization. It helps with the dispute step, not the lender-requested update.