How to Order Rapid Recheck (Rescore) on Credco.com

1. Cotality will review the order and documentation. Once requirements are met, documentation will be sent to the requested bureaus.

2. Submit an order with all desired tradeline updates. A new Instant Merge® report is pulled with each bureau update, incurring standard fees.

   1. Individual tradeline updates can be requested without a new credit report, allowing you to pull one at your convenience.

3. Service time is 3 to 5 business days after documentation submission.

4. Orders cannot be canceled once processing has started.

   1. Standard Rapid Recheck fees apply.

5. Upon completion, the lender receives a credit report with updates via Rapid ReCheck. The new report reflects the entire credit profile, with no guarantee of a score increase.

6. Notification of completed orders will be emailed and available on www.credco.com, including a new 15-digit Instant Merge® reference number.

7. This reference number can be used to import the report into your LOS or for AU engine submission, with standard re-access fees applying.

NOTE: THE CREDIT BUREAUS DO NOT ADD TRADELINES or ADD CONSUMERS ON ACCOUNTS THROUGH THE RAPID RECHECK PROCESS

While each situation is unique and each bureau is different, the following documentation may help process a Rapid Recheck order more efficiently:

• A copy of the first page of the original Instant Merge® report

• Documentation supporting the updates requested, such as:

  • A formal letter from the credit grantor, on company letterhead, authorizing the update.

    • The letter must contain:

    • Borrower’s name

    • Creditor name and address

    • Logo (if any)

    • At least 4 digits of the account number matching on the credit report

    • Must be specific about the changes made

    • Must be dated within 30 days of the last reported date

  • Certified court documents with appropriate court stamp (showing release of lien, satisfaction of judgment, etc.)

  • Online statements are allowed for balance updates only.

    • The statement must be:

    • Dated within 30 days of the last log in or last activity date

    • At least last 4 digits of the account number matching on the credit report

    • The URL link at the bottom of the page

    • No screen prints are permitted.

  • American Express (AMEX) Account Updates: Documentation for AMEX must come from the Credit Bureau Unit of American Express. The borrower can obtain the correct documentation by calling 800-874-2717. The Credit Bureau Unit will issue the letter that is accepted by the credit bureaus.

  • Student Loan Updates: It is recommended that the entire account number be typed to optimize the account update. TransUnion requires the borrower’s date of birth be provided.

  • Handwritten documentation is not acceptable for court documents, statements, and creditor letters.

  • Cancelled checks, verbal verifications, HUD documents, or other CoreLogic products, such as Merge Plus, and credit bureau reports are unacceptable.

The above are basic formats for all documentation. Please contact Customer Service for any specific requirements or questions about a document. If the documentation provided is not acceptable or is missing, the order will be cancelled, and a $20 cancellation fee will be applied.

While each agency is different, the following creditors* will require verbal or written authorization on file to minimize delays. Before ordering a Rapid Recheck, the borrower must contact the creditor for their approval.

*This is not a complete list and is subject to change without notice.

• Please note on the order form that preauthorization is on file with the creditor.

• The bureaus will not fax a borrower’s authorization to a creditor. In addition, the bureaus will not conduct a conference call to update account information.

Helpful Tips

• Submit requests for multiple items in one order rather than separately.

• You may request in writing that you do not wish to have credit pulled by Credco

• Updated file will include all creditor updates

• The score reflected on the new file will be based on the borrower’s entire credit file.

• It is recommended multiple actions by same creditor (i.e., remove late and update balance) be referenced in same document

• Credco cannot guarantee that the service provided will result in a credit score increase.

Equifax, Experian, and TransUnion, in most cases, will allow a typed or handwritten letter from the borrower.

• The letter must contain:

  • Date

  • Borrower’s name and address

  • Addressed to Equifax, Experian, and/or TransUnion for removal of “account in dispute” notations

  • Creditor/Account Name and Account Number

• An example of the acceptable verbiage for the letter is as follows:
  

  

Equifax – Deceased status on a tradeline only. Any of the options below are acceptable:

• A letter from the creditor stating the deceased status has been removed. The letter must also state the number of parties financially responsible for the account, such as, the account is Joint, Individual, Authorized User, etc. (ECOA code).

  • Equifax will not update if the letter does not state the ECOA

• No Doc Rapid ReCheck

• Consumer to initiate a consumer dispute with the creditor or bureau.

Equifax – Deceased status on the credit report. Any of the options below are acceptable:

• Consumer to initiate a consumer dispute with the bureau.

Experian – Deceased status on a tradeline/CreditReport. Any of the options below are acceptable:

• A notarized letter signed by the borrower stating that they are not deceased and a copy of the borrower’s Social Security card and Driver’s license.

• A letter from the Social Security Administration stating the borrower is not deceased.

• A copy of the borrower’s Social Security card and Driver’s license.

• A Letter from creditor stating the deceased status has been removed.

• No Doc Rapid ReCheck

• Consumer to initiate a consumer dispute with the creditor or bureau.

TransUnion – Deceased status on a tradeline only. Any of the options below are acceptable:

• A letter from the Social Security Administration stating the borrower is not deceased

• Letter from creditor stating the deceased status has been removed

TransUnion – Deceased status on the credit report. Any of the options below are acceptable:

• A letter from the Social Security Administration stating the borrower is not deceased

CoreLogic offers no doc requests for all three bureaus. It is recommended that this option be used if the borrower is having difficulty obtaining acceptable documentation from creditors.

It is highly recommended that this service only be used as needed or as a last resort. Some creditors decline to provide verbal verifications to the bureaus. To optimize the process and ensure a successful completion, please have the borrower confirm that the creditor will verify account information with the bureaus via the phone.

No Doc request fees will incur additional cost per borrower, per tradeline, per repository, plus the standard price for the Instant Merge® report.

• To expedite a request, rush fees for each bureau are: $25

  • Per borrower

  • Per item

  • Per bureau

• Please indicate on the order form that pre-authorization has been placed on the account.

• If you have the creditor’s phone number available, please provide it with the order. It is helpful for Equifax and Experian.

• For No Doc requests, the bureau(s) or the creditors have the option not to verify.