Download App

To advance mortgage lending, trust must take backseat to truth (HousingWire)

Once upon a time, loans were made on a handshake. That’s not just a platitude; before the Civil War, most Americans were self-employed, there was no federal income tax and banking was decentralized, making it practically impossible to verify a borrower’s employment, income and assets.

As the American financial system grew more sophisticated, so did our ability to document an individual’s financial history and capacity — but it still wasn’t possible for a creditor to access and review this information in real time.

Read the full article by Brent Chandler in HousingWire.

Related Articles

Brent Chandler’s FormFree: Leading the Charge Towards Transparent…

Read More

TCPA changes are a win-win for consumers and innovative lenders

Read More

Balancing fairness and innovation: AI in mortgage lending

Read More