Why are we so quick to buy another lead when we haven’t figured out what to do with the people who already asked us for help?
Credit repair for loan officers can create revenue from borrowers who aren’t mortgage-ready yet. But plenty of those people are sitting in your database with no plan because their credit score came back low.
You’ve already had the conversation and know they want a mortgage. That deserves a next step.
That is why I brought Sam Parker of My Credit Guy onto The Broker Journey. I’ve used Sam at my own company. I’ve seen his work, and I’ve watched him chase loan officers to hand their clients back.
How does credit repair for loan officers create revenue?
It helps borrowers work through credit problems so they can return to you as a mortgage-ready prospect ready to roll.
Sam said My Credit Guy gets roughly 200 loans a month back to the closing table with the loan officers who referred them. Another 50 a month close with someone else because the original loan officer doesn’t respond.
His team calls. Texts. Messages them on Facebook.
“You literally have a client trying to come back to you,” Sam said.
We used $5,000 per closing as an example during the interview. At that amount, those 50 missed closings represent $250,000 in potential commissions.
Sam was nicer about it than I was. If someone is trying to bring me a borrower who is ready to move forward, I’m answering the damn phone.
Does every borrower need paid credit repair?
No. Sam said about 40% of the situations he sees involve changes his team can help with without charging the borrower.
That might mean paying down an account or correcting how something is reported. Sometimes a phone call is enough to help move things forward.
A low score tells you there is a problem. You still need someone to look at what caused it and what can be done.
Sam has spent more than 20 years working with credit-challenged consumers. Some need paid help. Some can handle the changes themselves. Some aren’t good candidates for his service, and he tells them that.
“I don’t need to get paid on every transaction,” he told me.
That willingness to help without turning everyone into a paying customer is part of why I trust him.
What does working with My Credit Guy look like?
The borrower gets a free review and a plan. You get help building a process that keeps them connected to your business.
Sam provides a tracking portal, CRM integration, scripts, emails, and custom videos. His team contacts the borrower the same day to review what needs attention.
If the borrower chooses paid help, Sam said it costs a few hundred dollars.
There’s no cost to the loan officer.
His team can help negotiate collection debts, build positive credit history, and address negative items that can be removed.
“We want it to feel like you have a credit department,” Sam explained.
You have someone helping the borrower work toward qualifying while you stay involved in the relationship.
How do you keep the borrower coming back to you?
Give them a clear next step, respond to progress updates, and be ready when Sam sends them back.
Credit is personal. People can feel embarrassed before you even start the conversation. Sending them away without a plan gives them very little reason to come back.
Sam sends milestone emails so you can encourage them and stay available for mortgage questions. His team points them toward your closing table.
I once closed a loan after two years of follow-up. Two years. That borrower still became a client because the relationship continued.
If you call yourself relationship-driven, staying involved while someone works toward qualifying should be part of how you operate.
Can credit repair create more referral opportunities?
The short answer? YES! Sam described working with loan officers to help agents, builders, and bankruptcy attorneys find paths forward for their clients.
Now you have something useful to bring to those conversations. You can also offer a credit planning session after closing to help clients prepare for their next mortgage.
My friends, before you spend more money finding people to talk to, look at the people you’ve already turned away over credit.
The full conversation with Sam Parker is on The Broker Journey podcast. Watch it, then contact My Credit Guy and ask Sam to help you build the process.
Credit repair for loan officers starts with giving those borrowers a plan. When Sam brings them back, be there.