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The mortgage industry has largely been perceived as a risk-prone sector that is sensitive to market dynamics such as government regulations, the health of the economy, market competition, and others. This led the industry players to establish robust QC processes and refine those over the years to create a reliable framework that enables them to spot and mitigate risks for better outcomes. Also, the rising instances of fraud and manual errors have forced lenders to…

Did you know that underwriting subprime loans without assessing the risks was one of the prime factors that led to the downfall of Lehman Brothers in 2008? The ramifications of Covid 19 has had a crippling impact on the mortgage underwriting process. While on the one hand, underwriters had to qualify loan applications as per relaxed lending standards, on the other, they had to ensure that loan was saleable in a secondary mortgage market that…