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Volume 21 - Number 19

September 22, 2017

Underwriters Experiment with ‘Alt’ Data

A number of lenders outside of the mortgage market are starting to rely on alternative data to help make underwriting decisions. The Consumer Financial Protection Bureau is also encouraging use of such alternative data sources, which could prompt adoption by more lenders. Speaking at the ABS East conference produced by Information Management Network this week in Miami Beach, Joanne Gaskin, a senior director at FICO, said some lenders are relying on ...

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Poll

With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.

33%

No. It’s still difficult compliance/regulatory-wise.

20%

Maybe. It’s under consideration.

33%

Not now. But things could change as 2018 progresses.

13%