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What is a rapid rescore?
Rapid rescore is when a mortgage lender does a credit item update to the three credit reporting agencies so the credit reporting agencies can have it reported in 3 to 5 business days instead of waiting until the following month to update. Each credit item costs $100 to do a rapid rescore. It is about $30 dollars per credit bureaus and since each credit item report it to the three major credit bureaus, $30 dollars times three equals just under $100.00. Attached is a detailed article on rapid rescores.


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