Lending Software Solutions
Lenders might want to be a little more open-minded about the different kinds of loans they dispense in the current market, and a Wall Street Journal story indicates that the subprime loan might be a key area to focus on.
The source notes that the recent increase in activity for this segment of the market has not necessarily resulted in a decline in quality for these kinds of loans, even though in many cases they are originated by newer lenders.
Subprime loans are being awarded to applicants who are technically below the typical defining line for what is considered “prime” when it comes to a credit score, but have other attributes that make them seem more creditworthy.
One of the firms that is operating on this level is FreedomPlus. The company’s president, Joseph Toms, told the Journal that his service uses alternative data sources in its application processing to assess whether or not a client is worthy of a loan.
“The recession knocked a lot of people to their knees,” he said. “Now, they’re in a better position and nobody is willing to lend to them.”
Matthew Klein takes a slightly different tack, at least when it comes to the auto loan industry. Writing for Bloomberg View, he asserts that lenders in this category need to become more strict, not less, and cites information from Standard & Poor’s to signal that we may be in need of a wake up call.
It can be difficult for companies to determine whether or not an application is worthy of their time without the proper resources at their disposal. Credit risk assessment software can make the process easier and allow your firm to focus more on your desired client base while maintaining compliance with the law.
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Lenders might want to be a little more open-minded about the different kinds of loans they dispense in the current market, and a Wall Street Journal story indicates that the subprime loan might be a key area to focus on.
The source notes that the recent increase in activity for this segment of the market has not necessarily resulted in a decline in quality for these kinds of loans, even though in many cases they are originated by newer lenders.
The loans are being awarded to applicants who are technically below the typical defining line for what is considered "prime" when it comes to a credit score, but have other attributes that make them seem more creditworthy.
One of the firms that is operating on this level is FreedomPlus. The company's president, Joseph Toms, told the Journal that his service uses alternative data sources in its application processing to assess whether or not a client is worthy of a loan.
"The recession knocked a lot of people to their knees," he said. "Now, they're in a better position and nobody is willing to lend to them."
Matthew Klein takes a slightly different tack, at least when it comes to the auto loan industry. Writing for Bloomberg View, he asserts that lenders in this category need to become more strict, not less, and cites information from Standard & Poor's to signal that we may be in need of a wake up call.
It can be difficult for companies to determine whether or not an application is worthy of their time without the proper resources at their disposal. Credit risk assessment software can make the process easier and allow your firm to focus more on your desired client base while maintaining compliance with the law.
[:it]Lenders might want to be a little more open-minded about the different kinds of loans they dispense in the current market, and a Wall Street Journal story indicates that the subprime loan might be a key area to focus on.
The source notes that the recent increase in activity for this segment of the market has not necessarily resulted in a decline in quality for these kinds of loans, even though in many cases they are originated by newer lenders.
The loans are being awarded to applicants who are technically below the typical defining line for what is considered "prime" when it comes to a credit score, but have other attributes that make them seem more creditworthy.
One of the firms that is operating on this level is FreedomPlus. The company's president, Joseph Toms, told the Journal that his service uses alternative data sources in its application processing to assess whether or not a client is worthy of a loan.
"The recession knocked a lot of people to their knees," he said. "Now, they're in a better position and nobody is willing to lend to them."
Matthew Klein takes a slightly different tack, at least when it comes to the auto loan industry. Writing for Bloomberg View, he asserts that lenders in this category need to become more strict, not less, and cites information from Standard & Poor's to signal that we may be in need of a wake up call.
It can be difficult for companies to determine whether or not an application is worthy of their time without the proper resources at their disposal. Credit risk assessment software can make the process easier and allow your firm to focus more on your desired client base while maintaining compliance with the law.
[:es]Lenders might want to be a little more open-minded about the different kinds of loans they dispense in the current market, and a Wall Street Journal story indicates that the subprime loan might be a key area to focus on.
The source notes that the recent increase in activity for this segment of the market has not necessarily resulted in a decline in quality for these kinds of loans, even though in many cases they are originated by newer lenders.
The loans are being awarded to applicants who are technically below the typical defining line for what is considered "prime" when it comes to a credit score, but have other attributes that make them seem more creditworthy.
One of the firms that is operating on this level is FreedomPlus. The company's president, Joseph Toms, told the Journal that his service uses alternative data sources in its application processing to assess whether or not a client is worthy of a loan.
"The recession knocked a lot of people to their knees," he said. "Now, they're in a better position and nobody is willing to lend to them."
Matthew Klein takes a slightly different tack, at least when it comes to the auto loan industry. Writing for Bloomberg View, he asserts that lenders in this category need to become more strict, not less, and cites information from Standard & Poor's to signal that we may be in need of a wake up call.
It can be difficult for companies to determine whether or not an application is worthy of their time without the proper resources at their disposal. Credit risk assessment software can make the process easier and allow your firm to focus more on your desired client base while maintaining compliance with the law.
[:tr]Lenders might want to be a little more open-minded about the different kinds of loans they dispense in the current market, and a Wall Street Journal story indicates that the subprime loan might be a key area to focus on.
The source notes that the recent increase in activity for this segment of the market has not necessarily resulted in a decline in quality for these kinds of loans, even though in many cases they are originated by newer lenders.
The loans are being awarded to applicants who are technically below the typical defining line for what is considered "prime" when it comes to a credit score, but have other attributes that make them seem more creditworthy.
One of the firms that is operating on this level is FreedomPlus. The company's president, Joseph Toms, told the Journal that his service uses alternative data sources in its application processing< /a> to assess whether or not a client is worthy of a loan.
"The recession knocked a lot of people to their knees," he said. "Now, they're in a better position and nobody is willing to lend to them."
Matthew Klein takes a slightly different tack, at least when it comes to the auto loan industry. Writing for Bloomberg View, he asserts that lenders in this category need to become more strict, not less, and cites information from Standard & Poor's to signal that we may be in need of a wake up call.
It can be difficult for companies to determine whether or not an application is worthy of their time without the proper resources at their disposal. Credit risk assessment software can make the process easier and allow your firm to focus more on your desired client base while maintaining compliance with the law.
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