Loan Origination Solutions
As a lender, you have to protect your own financial standing by making certain that any loans you make are to borrowers who are financially stable. If you make too many loans to those who may not be able to pay them back, you risk losing a large amount of money.
In fact, it was overzealous sub-prime lending that led to the housing crash of 2008. It’s vital, then, that all of your applicants are screened prior to approving the loan to make certain they are capable of meeting their financial obligations.
USAFact can assist you in this task by screening applicants and returning a detailed history of their credit and their financial status. This report will include their open lines of credit, their credit score, and any times they defaulted on a loan or missed payments. In short, we will provide you with all of the information needed to determine if a loan is risky or not.
We can also provide you with a number of other screenings and verifications as needed. Many lenders have us to an employment verification to make certain that the past and current employment information you were provided is accurate. We also verify identities, education, certifications, and other information.
Battling Against Fraud
Identity thieves often attempt to open lines of credit and to secure loans under a false identity. In addition to screening applicants to make certain they can pay back the loan they’re asking for, you also need to make certain the person you’re giving money to is who they claim to be. USAFact will do a detailed screening to verify the individual’s identity, including any aliases they may have used in the past. You can lend with confidence after one of our screenings is complete.
Don’t take an unnecessary risk when it comes to making a loan. Contact us today to discuss how USAFact can help you.