What am I to do? I don’t want anyone to do what they don’t want to do, but I want them to do what I want them to do, for whatever they want to do.
Lenders over-lending to some borrowers has been curbed by regulation, the acid risk-assessment is the moment of an application that can have an applicant in shreds…. I’ve witnessed it at the tray-end of the mincer labeled ‘No Advice’.
Profiles are a part of underwriting. Is it unfathomable? Sometimes. Is it unfair? Sometimes. Profit first, or consumer well-being? What the applicant perceives as a risk isn’t usually the same as what a lender perceives as a risk…. It can be a problem to accurately evaluate this.
The gathering of up to date information (or as some of us might say) ‘a paperwork day’ can go some way to prepare for either being put through the shredder or having an application assessed by the likes of someone like me, before an application for a mortgage or loan is considered.
My Mantra: Plan, Strategy, Review.