Credit Score

Introducing the Newest Form of Fraud – And it’s Legal (For Now) 

A reader forwarded me a story yesterday than just had my jaw dropping — borrowers can apparently rent someone else’s credit to raise their own credit score, essentially using a loophole in today’s credit rating system to their advantage. Imagine paying $1,800 to move your credit score from 550 to 715, in less than one month. Read that again. And then shudder, especially if you work in the mortgage industry, because it’s absolutely true. And, for now, it’s absolutely legal.