Two applications that claim to boost borrowers’ credit scores — Credit CRM and Deal Maker Score — were the subjects of announcements at the National Association of Mortgage Brokers annual convention in Seattle.
Credit Systems Design, the developer of the UltraAMPS mortgage processing system, announced a partnership with Market Kinetix to provide its clients access to Deal Maker Score, a Web-based application that helps borrowers take actions to improve their credit scores.
Based in Houston, Texas, Market Kinetix says Deal Maker Score is not a credit-repair tool, but “an analysis tool that puts the power of credit repair into the hands of the borrower.”
Once a borrower’s credit report has been entered into the system, the system evaluates the data and explains what the borrower has to do to raise his or her credit score “to whatever target score has been identified,” the company said in a press release.
“For mortgage originators, Deal Maker provides a way to close more and better deals in the fastest way possible,” Market Kinetix President Ron Litt said in the press release.
Credit Systems Design is a division of Credit Bureau of Connecticut, and the UltraAMPS mortgage reporting system has been approved by Fannie Mae for direct access to Desktop Underwriter and the MORNETPlus Network since 1998, the company said.
Also at NAMB, a Los Angeles-based law firm that specializes in credit repair announced it is offering mortgage originators an “out of the box” software application the company claims can boost borrowers’ credit scores by 50 points in 30 to 90 days.
Jamison Law Group is offering its Credit CRM application for $12,900, plus monthly fees of $295. The application comes with training, unlimited telephone support, and a Web-based marketing system.
The application is being pitched to businesses and individual entrepreneurs who are looking to start a credit-repair business or as a sideline for mortgage professionals.