Jacob Haddan, CEO and President of Mortgage Consulting Group, sat down with credit strategist Alexandra Ehrlich for Episode 2 of Where the Deals Actually Close on the Mortgage Consulting Group Podcast to unpack how credit scoring really works, and how the right strategy can turn a stuck deal into an approved one. The conversation covers why medical collections quietly wreck good credit, how revolving versus open accounts get scored differently, and what actually happens behind the scenes during a rescore.
Jacob has referred clients to Alexandra for years, relying on her ability to dig into a credit report and find the exact move that gets a borrower qualified. Their conversation draws on that partnership, pairing his lending experience with her deep knowledge of scoring models and credit strategy.
“The average consumer, for every 20 points below a 740 that has two cars, two credit cards, and a mortgage, spends an extra $5,000 per year for that 20,” said Ehrlich. “So if our average consumer is at a 680, that’s 15 grand or more that they’re spending — just because of that score.”
Listen to the full episode here to learn how those 20 points could be costing you thousands a year.