Duh
This is something I feel I should already know.
When you sell on owner financing to a buyer with less than good credit, would you not be able to report his payments to a credit bureau and elevate his score to the point that he would be able to refi? Is this done all the time?
Nope.
You have to be a reporting member of the major credit bureaus. Which means you have to be a pretty big operation to make the membership fees worthwhile.
Nope. It is simple and inexpensive to access credit information, but to REPORT credit info is a lot harder.
Not only do you have to have a business large enough to support the hefty fees, but each bureau will make an on-site inspection of your operation before accepting you, to determine if you are reputable and have a legitimate right to apply for membership, plus you have to place a bond against liability.
It has to be this way. Otherwise, any numnutz with a vendetta could ruin his enemies, then scoot.