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June 1, 2020

Timely employment verification pivotal to mortgage, other consumer lending risk management (MBA Newslink)

Mortgage bankers and consumer lenders of every stripe have their plates full right now, so some may have missed a significant development or not had the bandwidth to consider its implications. One of America’s primary investors in loans to consumers has lost confidence in automated systems used for verifying loan applicants’ current employment status, accelerating an already-in-motion shift in how borrowers’ ability to repay needs to be assessed. Read the full story on MBA.org.