Industry News

New products promise to boost credit scores

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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 a...