Sentences with phrase «evaluating loan applicants»

As mentioned above, lenders tend to look at the big picture when evaluating loan applicants.

Not exact matches

When considering applicants for home loans, banks and mortgage companies evaluate the borrower's debt level in relation to his or her current income.

Lack of access to financial products — like credit cards, loans and deposit accounts — is an issue plaguing millions in the U.S. Traditional financial institutions, like banks and credit unions, depend on credit reports and Social Security numbers (SSNs) when evaluating applicants.

Payday lenders utilize proprietary criteria to evaluate applicants and will approve your loan when your application matches their criteria.

But, starting June 25, Fannie Mae will use trended credit data to evaluate how applicants paid off their loans over the past two years.

Although FHA must balance its policies to minimize risk while achieving its missions, accurately evaluating borrowers» ability to pay a mortgage loan should continue to depend on verification of employment, assets, and allowing applicants to explain gaps in employment, or reasons for previous credit problems.

To help ensure the long - term success of the HECM loan over time, HUD requires a review of each applicant's credit history, property tax payments and other credit factors that will be evaluated to measure a borrower's willingness and financial capacity to meet the ongoing obligations of the loan.

National Funding does not accept collateral and is available to applicants in all 50 states and Washington, D.C. Borrowers must personally guarantee all loans and will be evaluated based on their business's monthly gross revenues.

When Earnest evaluates its unsecured personal loans it incorporates data regarding each applicant's personal savings, employment, education, investments and career trajectory.

While student loans that are paid on time can help you build good credit, that same debt can contribute to a higher debt - to - income ratio, which mortgage lenders evaluate when qualifying applicants for mortgages.

As you may know, lenders evaluate loan applications based on applicants» credit ratings.

While there is no standard set of criteria when evaluating an applicant for a loan, both alternative lenders and traditional banks will be looking at the company's ability to pay back the loan in a timely manner.

Qualified applicants receive offers in just minutes and can evaluate loan options with no impact to their credit score

I'm certainly not suggesting we go back to the «bad old days» and abandon analytics completely, but the system either needs to account for the many ways someone can (prudently) work toward long - term financial success, or loan officers need more flexibility and discretion in evaluating applicants.

It is already a popular tool for evaluating auto loan and credit card applicants, according to Steve Chaouki, TransUnion's executive vice president at the financial services business unit.

Lenders use the credit score scale to evaluate the creditworthiness of the applicant or the likelihood that the borrower will pay the loan back.

Evaluated credit and financial status of applicants to determine debt to income ratio and suitability for personal and auto loans

Loan Underwriters decide whether to accept loan applications by evaluating whether or not the applicant has the legal, financial and credit resources to enter into the lLoan Underwriters decide whether to accept loan applications by evaluating whether or not the applicant has the legal, financial and credit resources to enter into the lloan applications by evaluating whether or not the applicant has the legal, financial and credit resources to enter into the loanloan.

Developing loan applications by evaluating applicant information and documentation is all in a day's work for me.

Demonstrated ability to interview applicants to effectively evaluate their eligibility for loans.

Lenders thoroughly evaluate every applicant's ability to keep up with the loan's financial obligations to minimize default in the future.

While there are a number of factors that lenders consider when evaluating a request for a home loan, this has to go hand in hand with the applicant proving they have been able to manage their debt since the foreclosure.