Automating Third-Party Data Validations

Independent, primary-source data is the most reliable way for originators to verify a borrower’s creditworthiness and underwrite safe and profitable loans. This report will evaluate new sources of this data, the consumer privacy and security concerns involved in their use, and examine the most efficient strategies for incorporating these data sources into consumer lending origination processes.

Key questions discussed in this report:

• How has the introduction of third-party data verification services changed lenders’ origination workflows and policies?
• What makes automated, third-party data services more reliable than traditional borrower-sourced documents?
• What emerging opportunities exist to expand the use of this data?