Read the Latest FormFree News: Read more

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

What is safe artificial intelligence in mortgage lending?

Read More

Christy Moss, CMB, of FormFree: It’s Time to Stop Punishing Borrowers…

Read More

Reinventing lead generation with the Qualified Borrower program…

Read More