If you think that low rates and location are the sole deciding factors that a borrower considers while choosing a lender, you might want to think twice. Borrowing experience plays a huge role in the acceptance of lenders. In a tech driven world, tech-savvy consumers prefer to complete the loan application process within the comfort of their handheld devices at…
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…
The mortgage industry has forever been a profitable one for banks and lenders. Although it faced occasional challenges, it was able to navigate the roadblocks quicker than most other sectors. However, the Covid-19 pandemic presented itself as an unprecedented crisis for the industry, exploiting its unguarded soft spots and bringing business to a complete halt. The pandemic has caused unexpected…