According to D. Steve Boland, managing director for consumer lending at Bank of America, the company's new loan product gives eligible borrowers a much - needed alternative to the Federal Housing Administration's program: (homebuyinginstitute.com)
In order to satisfy the demand for quick loans, launch new loan products and scale - up quickly, online lenders need a completely configurable auto - decisioning engine for origination and underwriting, not a manual, labor intensive and long origination process. (cloudlendinginc.com)
So they relaxed their qualification criteria and created new loan products for under - qualified borrowers. (homebuyinginstitute.com)