Loan underwriting automation offers many benefits to businesses in the lending industry. It helps expedite the loan approval process so …
LOAN ORIGINATION REGULATIONS & RULES
U.S. loan origination regulations and rules are based on laws and industry standards designed to ensure transparency, fairness, and financial …
CREDIT UNION RISK MANAGEMENT STRATEGIES
Internal risks tied to credit and compliance are far easier to manage thanks to advancements in loan origination solutions. Let’s take a quick look at how innovative capabilities help credit unions reduce credit risk while helping them comply with an increasing number of regulations.
CREDIT RISK MITIGATION TOOLS: THE LATEST INNOVATIONS FOR LENDERS
All lenders seek to reduce credit risk within their portfolios. While some still use manual risk assessment tools, portfolio management …
EMPLOYMENT VERIFICATION FRAUD IN AUTO LOAN APPLICATIONS
It’s the last day of the month at an auto dealer. While the dealer’s numbers are good, they want one …
HOW THE BEST LENDERS SPOT STRAW BUYER RED FLAGS
Most lenders encounter straw buyers at some point but only realize it once a loan defaults without a single payment. …
RESHAPE LOAN ORIGINATION PROCESS WITH NEW LENDING TECHNOLOGY
Updated on 2/26/24 By leveraging modern technology, financial institutions can make daily interactions with their customers frictionless and effortless. Technology …
CREDIT UNDERWRITING FRAMEWORK: KEY COMPONENTS TO CONSIDER
A well-defined credit underwriting framework is essential for responsible lending and risk management. To meet the challenges of an ever-changing …
LOAN STACKING: 8 FRAUD PREVENTION STRATEGIES
Loan applications are often sent to multiple lenders simultaneously. The action is called loan stacking, and it can help address a legitimate need for quick funding, or to perpetrate a scam that brings quick funding with no intent of complete repayment.
LOAN PORTFOLIO RISK ASSESSMENT: A GUIDE FOR LENDERS
Lenders face an uncertain financial market in a constantly changing global economy. To negotiate this dynamic milieu, lenders need to …
HOW TO PREVENT LOAN DELINQUENCY: 10 STRATEGIES FOR LENDERS
Auto loan delinquency rates have reached their highest levels since the 2008 recession, according to a report by S&P and …
ACCOUNT TAKEOVER FRAUD PREVENTION FOR LENDERS
In an account takeover, an individual or well-organized cartel obtains access to a consumer’s account, changes login credentials or personal data, then makes unauthorized transactions using that account. Unauthorized purchases, transfers of funds, and cancellation of payments can quickly lead to financial ruin for the consumer and reputational damage for the business that failed to prevent it.
