. hi, everyone. welcome to "on the money." i'm becky quick. he won the super bowl and then he started a successful business. wait until you hear how this former nef player learned his trade. we're talking about credit scores, how to find it, why it matters and how to make it better. the cold truth. what exactly is cryotherapy? puppies. you can rent a house and now you can even rent a dog. "on the money" starts now.

an nfl player knew his career wouldn't last forever so he learned a new career. >> dramatic, unexpected turnarnds are casey crawford's thing. as a football, he wasn't drafted out of college but he managed to spend two years as a tight end with carolina's panthers. then he got cut but he ended up with the tampa bay buccaneers in 2002, a season that ended up with a super bowl victory. crawford began to flip homes while he was still playing football. it was the early 2000s and real estate and the real estate bubble were blowing up. >> i think i heard donald trump say this and he's probably right. the only way to be wrong in real estate at that time was not to buy something. crawford was doing so well that he quit football after the super bowl. it worked out fine until 2007

and 2008 when bad loans started killing off giant vendors like countrywide, american home and wachovia. >> evil. they were defined by greed, lack of integrity putting families into homes they couldn't afford. >> reporter: despite the chaos, crawford sensed an opening. he wanted to build a mortgage business that would help people stay within their means. >> the time to get in the market, right, is always in the midst of chaos, when blood is running in the street. >> reporter: of course he didn't know how to start a mortgage bank. so he did what anybody would do, he googled it. a year later in september of 2008, crawford's mortgage company, about 20 people, opened for business. >> we had a full 30 days before october of 2008 and the whole financial world totally comes collapsing down. i spent the day sucking my thumb in my closet tryin to explain to my wife why this was such a good idea a year earlier. >> in 2009 they did about $180 million in loans.

its 2200 employees expect to do $7.5 billion worth of business this year. it was a big game change from scoring touchdowns to getting people into houses. casey crawford is the ceo and co-founder of movement mortgage. casey, thanks so much for being here. >> glad to be here. >> is that really it, you googled how to start a mortgage company? >> that's what i really did. you did see my partner. i had some adult supervision, i had some experience, always liked having coaches in life kind of from football. but none of us had started a mortgage bank from scratch. i got on line and googled how to start a mortgage bank. >> what did you learn? what did they tell you to do? >> a little guy named david liking came out and said, call me, call me. then we had mortgages across the country. >> what is amazing to me is you could make it all the way to the nfl and turn around and build something, be an entrepreneur

and have a whole second career you were thinking of at that time. how gdid you get to the point where you thought, i really want to be doing this, i want to be an entrepreneur? >> the entrepreneur bug bit me early in life. i was selling fans rolling up paper and selling them as 25 cent fans. i've been in sale for a long time, but i think really the nfl in general really prepares you for the marketplace and for business. i took those off-seasons and experience of being on an nfl team to build lots of relationships around the cities i was part of, charlotte and tampa bay, and really picked businessman's brains, how they did what they did. fabulous entrepreneur, jerry richardson, i asked him, tell me some advice. he said, always work with your bankers. he said how careers started paralleling one another, and he brought his lifetime

relationship banker, mr. hugh mccall torques th, to that meett helped him get the carolina panthers. >> you must have had a few stumbles along waithe way, thou. >> sure, my second season in the nfl we set the record for most consecutive losses, so i got to experience that. then they mentioned getting cut so my mom got to see me get fired on espn. had to go home and tell my wife that. then i was lucky enough to get signed on with the tampa bay buccaneers the next day and go to the super bowl with them. i got to see the lows and highs, and i think that sense of resiliency and that sense of always pressing forward, man, you need that in business, and we've certainly experienced that and kind of benefited from those lessons with movement mortgage. >> let's talk about movement mortgage because you had some tough talk for people you thought were doing irresponsible lending. what do you do differently? whats movement all about? >> in 2007 and 2008 the mortgage system was broken, the whole

financial service industry was broken and we looked at that as a real opportunity to bring a solution to the marketplace. fundamentally, the united states is going to continue to support the value of home ownership. people are going to want to continue to buy homes, but it doesn't seem like the big banks are really thinking about those consumers and make it an enjoyable experience and make sure they get into loans where they'll stay in those homes and not a debt burden. >> i picked up some mortgages myself. i would never call it an enjoyable experience. how did you change that? >> first of all, we have this crazy idea you should get approved for your mortgage before you start searching for your house. get all your paperwork, get all that done up front before you start shopping. >> so you know what your limits are. >> yeah, you know what you can shop for. the other ones were writing up to the very end. we pushed that underwriting to the front of the process and our goal is to have your loan ready

to close on the eighth business day. >> you came in at an incredible time just in terms of what was happening in the housing market and things were collapsing. where do we stand right now? all of this is local, but if you had to look at the broadview, where do we stand? >> it's been a nice goldilocks rise, not too hot, not too cold. we see probably the most underserved segment in the marketplace being the millennial first time homebuyer. the average price of a home is $288,000. historically we're looking at an average price of about $150,000 adjusted for dollars. >> that's big if you're trying to put down 20%. >> most millennials don't know they don't need to put down 20%. that's another misconception. fannie mae and freddie mac have programs where you can put down less than 4%. >> but less than 4% down, you're more a renter than an owner and you don't mind walking away. >> i think where we got trouble last time is we didn't document their income and we qualified people for too much house.

it wasn't necessarily how much down payment they had, it was the ability to pay and make those mortgage payments and we did the stated income loans. those aren't in the marketplace today. you have to document all your income and all your assets. today if we get qualified up front you know how much home you can afford before you go shopping. >> casey, thank you so much. it's a pleasure having you in here and i look forward to seeing what you built. >> absolutely. i look forward to serving the american public this way. it's the one number you need to know and we are not talking about thumbs. how to find it and what it can do for you. it's a hot business. take a look at how the stock market ended the week.

here's a look at what's making news as we head into a new week "on the money." it is the last big number that the federal reserve will see before they make that decision about whether or not to raise interest rates later this month. and the unemployment rate actually fell to 5.1% in august. that is the lowest level in seven years. the economy added 173,000 jobs and that was a little below expectations, but the numbers for the previous months were revised higher. all of that in combination sent stocks down early on friday as expectations started to ratchet up that a rake hite hike is on way. of course this came after a tumultuous week of china's economy. august auto sales came up at 8.8%. ford was up 5.4% and chrysler at

9.2%, but awfll of those were higher than expected. if you have a hankerring for an egg mcmuffin in the afternoon, you're in luck. mcdonald's will start selling breakfast all the time. credit card debt is at the highest level in five years. the average balance is nearly $16,000 according to nerd wallet. if you're one of the millions of americans with a monthly card payment, you have come to the right place. senior financial correspondent sharon epperson is with us on how to boost your credit score because it's your money, your future. sharon, we all know we have these credit scores but if you're not familiar with it, what's a good number and a bad number? >> it takes a snapshot of your credit history and we're looking at a range of 250 for the fico score, the most popular of the credit scores. >> just for showing up. >> yeah. if you have anything below 550, that's a pretty bad score and

you're not going to get a good rate on any type of loan product. if you have 695, that's the average according to fico right now, and the highest score is above 740, 760. >> if you are less than perfect, and i'm sure that's very few people, but if you are, what should you do to try to improve your credit score rating if you think you could get it a little higher? >> the first thing to do is get a copy of your credit report, see what's in there and see what errors might be in there. get a free credit copy from each of the credit burbureaus. >> they have to give it for you for free? >> they have to give it to you for free. experian and others also have a free one. you can go to annualcreditreport.com, credit.com, and even companies are allowing you to get a free credit score. >> is there a limit to how many times you can ask for your

credit score or do you ding your credit score by asking for it too frequently? >> when others ask for your credit history and do a run on your credit history and give a score, if you get a lot during a period of time, that can be slightly negative to your report, but that's really not what goes into what makes up your credit score. what makes it up is really your payment history and what hurts you the most is not paying your bills on time. >> or not having credit if you don't have credit cards and things to go along with it. >> exactly. >> if you get your report and you find out there is an error on it, how do you go about trying to fix it? i've heard nightmare stories. >> you need to go on line and see what's there, and on line right there you can tell them you want to dispute something you see on the report, but you also want to put something in writing and make sure you have the proper documentation, send it all certified mail, make sure they get it, that you get a response back in writing. it can be a long process but it's definitely worth correcting anything that may be a mistake. >> sharon, thank you very much. >> my pleasure. summer heat got you down?

there is a new health treatment that will cool you off to the tune of minus 200 degrees. we're talking the big business of cryotherapy. and later, how much is it to rent that doggie in the window? when you want to own a dog but you're not quite sure you're ready for the responsibility, we've got the answer. christine.. living her life... loving her family. moments made possible in part by the breakthrough science of advanced genomic testing. after christine exhausted the standard treatment options for her disease, doctors working with the center for advanced individual medicine at cancer treatment centers of america suggested advanced genomic testing. the test results revealed a finding that led to the use of a targeted therapy that was not considered for christine before. now, they're helping fight her cancer on another, deeper level... the genetic level. this is precision cancer treatment, an approach to care that may help patients like christine enjoy the things that matter most in their lives while undergoing treatment.

the evolution of cancer care is here. that's definitely something worth celebrating. learn more about precision cancer treatment at cancercenter.com. appointments are available now.

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kate rogers joins us with more. hi, kate. >> hi, becky. that's right, it's called cryotherapy d i put it to the test myself. take a look. >> we're going to have you fill out the form and i'll have you change in the changing room. >> why are people spending up to $100 to freeze in this chamber for up to three minutes? we're here in cry olife in new york city to find out what the hype is about. >> from lebron james to sports figures, cryotherapy is the in thing, blasting them with freezing cold from head to toe. you have to be able to withstand cold to negative 200 degrees. it helps with skin tightening, even weight loss. the chambers can cost upwards of $50,000 each. >> how do you feel now? >> i'm really, really cold. >> is it a dry cold? >> my hands and feet are freezing. >> it's not just celebrities and athletes embracing cryotherapy.

peter megan has been doing this for over a decade. >> i've done probably five treatments, i would say, and i've been very happy with the results. i'm playing golf again, and i'm sailing and doing all the things i was told a year ago i couldn't do anymore. >> reporter: cryotherapy treatments have emerg as big business. cryolife in new york city sees up to 90 clients a day and is having to turn away customers because they can't keep up with demand. since opening in 2013, their business has quadrupled. >> the public is becoming mor more aware of what is going on. it has increased nationwide. we get calls internationally from mongolia, from brazil, from portugal. we set up the cryolife center here. >> but treatment has its skeptics. >> i think for the most part it's a fad. that's okay. there are a lot of people doing this, a lot of people think it works well. there are folks making a lot of

money for it, charging 50 to $100 for getting frozen. we don't have the science to prove it yet. >> whether it's a fad or here to stay, cryolife has committed to opening up four new locations in the country in the next six months. like we said, becky, whether it's here to stay or not is not quite clear, but this small business is dedicated to the process and they think this is here to stay. >> the guy you interviewed said he had gone in five times, just five treatments, and he was back playing golf again? >> he was a private ceo, and it's a lot of businessmena side from the lindsay lohans of the world. he was on five treatments, and he said it works for him. so there might be a placebo effect, it might have some real treatment properties -- >> at $100 a shot, that's $500. you can maybe avoid surgery. i see you have gloves and the socks on? >> it's not very fashionable.

the outfit is tube socks and gloves. it's really a look. then they give you these big wool gloves. your body has a fight or flight reaction. you want to get out of there. you can stay for a minute and a half or up to three minutes. >> but you're locked in there? >> they say to get the properties, you should stay there for at least two and a half minutes. what if you could get a dog without really having a dog? we're going to find out how to hire a puppy.

for more on our show and our guests, you can go to our website, cnbc.com. here are the stories coming up that may impact your money this week. happy labor day, everybody. the markets will be closed on monday. on tuesday the consumer credit report for july comes out. on wednesday, apple is expected to make an announcement to unveil its new products, likely a new version of the iphone. get ready for some football. thursday marks the return of nfl football and the 50th super bowl will be played. on friday the producer price index for august comes out. also on friday we'll be getting the first read for consumers for september. the pet industry is a $50 billion business with more than 50% of households owning a dog. but for dog lovers afraid of commitment or anyone wondering

if they have what it takes to take care of these. david joins us with some of his furry friends this morning. thank you for being with us. hi, baby. it's all good. you have a very unique idea coming up with the idea of renting a dog for an hour or a day, just to see if you get along with the puppy and if you're really up to snuff, right? >> absolutely. this is a trend thaet bet's bee going on for 12 years. i started it in the brooklyn area just for the simple reason that kids who are sick want a puppy in the house. >> and people have puppy parties now and they really check these dogs out. >> a lot of kids in the city can't have dogs in their house. the landlords don't allow them to have any pets. sometimes either the mother or father is allergic to the animals, but the kids are dying to have the pets.

they are crazy about some way of having socialization with the animals. so we provide the niche between them of having an activity for an hour and their parents allowing them to have a pet for a short time. >> where do these dogs come from? >> private breeders are sent in from connecticut, long island, new jersey. they come from different locations and they're all certified breeders. sometimes we take in adoption dogs, people who can no longer have a pet, and we home pets. and this is what works out great. and that's why even the new facility that's being started called the pet adoption cafe where you can actually sit down, pick your coffee from the menu and pick your pet from the menu, and then you can bond with your pet on a sofa. >> what happens to the dogs when they grow up, when they're not puppies anymore? >> well, we're lucky. none of the dogs grow up that don't have homes. we get a home for every single pet that comes in. as a matter of fact, we have more homes waiting than we actually have pets. >> you're kidding. >> it's just a matter of being able to qualify the parents and the people to make sure they can provide loving lifetime homes for these animals.

>> what do you charge for, let's say, an hour with a puppy? >> so the standard rate is about $175 in our local area, and it goes up a little bit depending on if you're outside, and we only travel a short distance because we do have to care about the animals, their feeding time, their sleeping time, their health. and this is the primary part of taking care of these dogs and providing parties for kids. >> how many people who are kind of testing it out seeing if they have what it takes to be a pet owner actually turn around and say, okay, i want to keep this dog? >> well, everybody always asks, i would love to have this pet, they're adorable, but pets are only provided when they qualify to be certified for a lifetime home. so no puppies are actually sold at parties. parties are just for the kids. and it's not just for kids anymore. we have adult parties, we have bachelor parties, we have hospital parties. >> it's been around for 12 years, so i take it it's a good

business. >> the business has grown exponentially. as a matter of fact, i'm almost afraid. if we get promotion, we don't have enough puppies to provide care and parties for people. >> david, thank you so much for bringing in these adorable puppies today. we love seeing them and we love to hear the story. come here, baby. >> this is a great opportunity for them and they're happy to be here. they love socialization, so thank you for having them on. >> thank you. we appreciate it, david. >> you're welcome. that's the show today. i'm becky quick. thanks so much for joining me. next week if you want that hot ticket or the latest gadget, meet a man who will wait in line for you for a price. time is money. each week right here we're "on the money." have a great holiday and we'll see you next weekend.

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