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Based on years of experience studying our customers' business practices, we developed our Guaranteed All-Inclusive (GAP) Pricing. This proprietary solution provides an efficient and cost-effective approach to credit report pricing that ensures equal treatment regardless of a borrower’s credit standing

GAP pricing helps you improve TRID compliance, save money, and keep your customers happy by:

  • Increasing accuracy of credit reporting fee disclosure.
  • Revealing hidden costs.
  • Avoiding borrower disparity.

It's kind of a win-win-win.

Simpler Pricing Structure

Birchwood's GAP pricing structure allows lenders and brokers to easily quote an accurate Trimerge credit report cost by setting a single, all-inclusive rate.

Since the actual cost of a credit report at closing often depends upon the number of consumer disputes, credit reporting errors, instances of stale tradeline data, etc. (which require updates during the loan process), quoting an accurate credit report cost for a consumer application can be a challenge.

Birchwood’s GAP pricing solves this problem by guaranteeing all add-on fees and back-end processing costs up front. There are never any additional fees. Even changes in circumstance, which under traditional pricing may necessitate re-disclosure to the borrower, won’t result in higher credit report fees. 
 

No matter what is required to deliver the credit report, GAP pricing includes: 
 

  • Three-bureau credit report with scores
  • All supplemental tradeline update requests
  • All technology/legislative recovery fees
  • All secondary use fees
  • All Fannie Mae Reissue fees
  • All reprint/retrieval fees
  • All fraud alerts
  • Potential score improvement alerts

Happier Borrowers

No one wants to feel like they’ve been short-changed or discriminated against. Guaranteed All-Inclusive Pricing enables you to offer the same service for the same price to each customer who walks in your door. 

In addition, GAP pricing helps ensure a smooth, surprise-free closing. With our set GAP price neither they nor you have to be worried about being confronted with unexpected fees and up charges. Being able to offer them assurance about the stability of their credit reporting fees can go a long way towards increasing their comfort level with the process and confidence in you.

Greater Compliance

Guaranteed All-Inclusive Pricing helps lenders and mortgage brokers ensure compliance with the Real Estate Settlement Procedures Act (RESPA) and the U.S. Department of Housing & Urban Development (HUD).

Under these regulations lenders and brokers are required to provide borrowers with a standard Good Faith Estimate (GFE) that clearly discloses all loan terms and closing costs. Closing agents are then required to provide borrowers with the new HUD-1 Settlement Statement that clearly compares the consumer’s final, actual costs to the original estimate. The final price for several services, including credit report costs, must be within ten percent of the quoted price or lenders may face penalties.

GAP pricing, with its set price that applies across the board and which does not fluctuate based on how much work is required, helps ensure both consumer equality and minimized risk of closing penalties.

Better Value

One of the biggest driving factors behind GAP pricing was finding the best way to deliver greater cost savings and overall value to our customers.

Our customizable billing formula is tailored to each customer’s business model, ensuring the greatest bottom-line benefit for your specific organization. One of our Birchwood team members can walk you through the process in detail, but in essence, Guaranteed All-Inclusive Pricing assists you by providing an easy way to treat all your customers the same while at the same time helping you lower your credit reporting costs and increase your savings.

Since we introduced it in 2006, GAP pricing has helped our customers be more compliant, productive, and profitable.

Of course, lenders and brokers who do not wish to purchase guaranteed all-inclusive credit reports can still purchase credit reports within Birchwood's traditional price structure.

In addition to credit reports, we also offers flood reports, appraisal and home valuation services, tax return verifications, and other related services at competitive prices delivered with our signature service and a smile.

 

Download our GAP All-Inclusive Pricing Brochure

 


For more information and to see if GAP pricing is a good fit for you,
feel free to call us at 1-800-910-0015 to speak directly to one of our staff experts, or info@birchwoodcreditservices.com

 

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