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Over the past few months, mortgage rates and closed loan volume have surprisingly been on the rise. The possible reasons for this could be the dwindling unemployment numbers since the peak of the Covid-19 pandemic, more people receiving the stimulus check from the government, and the positive outlook of a fast-recovering economy. However, lenders should not assume this good run to last forever. The present time is crucial for them to establish and reinforce a…

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…