To advance mortgage lending, trust must take backseat to truth
The problem with the “trust, but verify” model, which is still used by many lending institutions today, is that it’s time-consuming and expensive. Lenders may engage three separate vendors to verify a borrower’s stated employment, income and assets, creating three sets of actions for borrowers and processors to complete and contributing significantly to the 48 days and $8,243 it takes to produce the average loan. It’s time we removed trust from the picture entirely.
Mortgage Innovators Podcast: Meeting the needs of the borrower of tomorrow
Where to find us
- MBA IMB | January 24-27 | Nashville | Register
- SimpleNexus User Group (SNUG) | February 28-March 3 | Register
Team Member Spotlight: Lisa Lipani
As research analyst, Lisa works alongside our research team to gather and analyze data to make improvements to our software. She received her doctorate in linguistics from the University of Georgia, where she studied speech sounds. Lisa is also an animal lover, and in her day-to-day she tends to her 2 dogs, 4 donkeys and 18 chickens.