Streamlining the lending process through income and expense verification been cited by many, across the mortgage industry. As the global economy advances to recuperate from a disastrous pandemic - dominated 2020, there is an uptick in government borrowing in these uncertain times.
Lenders tend to spend long hours filling out an application and gathering documents in their mortgage process, significantly putting a massive pressure on origination teams to digitise and improve lending efficiency.
Assessing an individual’s ability to afford a product or service, both at the point of application and throughout their relationship is continuously evolving in this fast-changing environment.
With increased regulatory attention, assessing affordability is the key challenge. Indebtedness levels remaining high and for many consumers suffering from an unprecedented squeeze on disposable income, a robust affordability assessment is an increasingly crucial aspect.
Mortgages require greater automation in the origination process, such that affordability and Income can be assessed without the need for manual intervention. Human sight can look at dealing with the exceptions that may arise.
The webinar aims to bring together leaders from the industry to examine the benefits of intelligent affordability service.