Sentence examples for borrower evaluation from inspiring English sources

While community banks have succeeded in outperforming the market on borrower evaluation, there's just one problem - and it's a big one - community banks cannot scale.

To move the lending system forward into the 21st century, the lending industry must take advantage of the unprecedented level of digital connectedness exhibited by modern borrowers providing the infrastructure to digitize character reference and factor into borrower evaluation.

As advanced and refined as their tools may be, the model these lenders employ is stricken with a fundamental flaw: the evaluation of borrowers in isolation.

Because borrowers will be required to repay any assistance granted -- and because the amount to be repaid will be safely locked up as equity in the house, guarded by a lien -- there is no need to perform cumbersome manual evaluations of borrower financial positions to determine if borrowers truly deserve a modification.

"We will be targeting all the niches in the country where secondary verified data is available to us from third-party sources," says Lunia. "So rather than bothering the borrower for document submission and evaluation, we will extract data from his ecosystem and evaluate him".

They propose to replace the current limits on debt-to-income ratios with evaluations of the borrower's entire budget.

Borrower: "Could I borrow your cell phone?".

Borrower: "Hey let me borrow your phone".

The site is also promoting an evaluation service; it will enable borrowers who have interactions with lenders and brokers to leave public feedback about those businesses.

Tested in a handful of markets before 2007, the mortgages were issued to about 2,000 borrowers and, based on the center's evaluation of a representative sample, showed a very low default rate.

In other words, in traditional credit evaluation, lenders passively depend on the borrowers providing information about themselves; while in the big data era, lenders can proactively search the 360-degree online footprint of potential borrowers and let data tell who they really are.