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How to Verify Bank Statements Faster with Automation
In today’s mortgage lending landscape, automation has become essential in keeping up with the increasing demand for timely and accurate bank statement verifications. Using automation to verify bank statements accurately and quickly helps to improve the mortgage process, allowing lenders to focus on more critical work. Any solution that can help make the mortgage lending process easier, more efficient, and more accurate can prove invaluable in giving you a competitive edge. Automation facilitates these changes and helps you to retain market share, even in a declining market. Why should you use automation to verify bank statements? Verifying bank statements has…
4 Threats to Data Integrity and How to Overcome Them
As a lender, every loan you make is only as reliable as the data used to make the underwriting decision. If a borrower’s financial data is inaccurate, incomplete, or misrepresented, the loan may be more of a risk than you were comfortable taking on. That’s why it’s crucial to ensure the integrity of your data. If you can’t trust your own data, your underwriting decisions may be flawed. What Is Data Integrity? Data integrity refers to the consistency and accuracy of data throughout its life span and across various formats. Lenders’ data may become corrupt when transferred from one format…