Today’s mortgage borrowers are the ones who are active on social media and prefer shopping online. Their expectation from a lender is pretty much designed by the experience they have shopping online. They expect lenders to deliver the same speed and ease as delivered by online shopping platforms. Besides, they want lenders to be flexible and proactive in solving their…
mortgage lending
The Covid 19 pandemic has caught lenders unaware in many ways. Unwarranted delays in processes and strained relationships with borrowers, are the two most common things that lenders have to grapple with as a fallout of the crisis. To top it, the interest rate cuts prompted a deluge of loan requests and lenders are unable to cater to them because…
If you are still relying on FICO score to determine the creditworthiness of an individual, then you might soon be outpaced by your competitors. Today, tech savvy lenders are using data from disparate sources to understand an individual’s risk profile. For instance, data drawn from LinkedIn or social media, can provide lenders with a more accurate picture of borrowers, and…