A cash flow analysis is an important factor in lending choices because it shows how likely a borrower is to pay back a loan. More specifically, they help lenders in five main ways. 1. Risk Assessment By analyzing a borrower’s cash inflows and outflows over a certain
As we step into the dynamic landscape of 2024, the realm of hiring is poised for transformative shifts that demand attention from employers and HR professionals alike. From the potential evolution of recruitment technologies to legislative changes influencing the hiring process, let’s explore the key
Effective and efficient procedures are crucial in today’s fast-paced corporate world to ensure client satisfaction. The pre-approval step is an important first step in making any kind of financial decision. By making this process better, we can speed up services and make customers happy. Let’s
Leveraging artificial intelligence (AI) significantly streamlines the recruitment and hiring process for companies across various scales. The key advantage of employing AI tools lies in the ability to base hiring and employment decisions on data rather than subjective impressions. This data-driven approach allows for decisions
Verifying an applicant’s income is an important part of the mortgage process. Typically, this is done by submitting a Form 4506-C, which is a request for a taxpayer’s transcript. The transcript contains wage and other data that mortgage providers can use to determine if a
During the lending process, real estate agents and loan officers play integral roles in making sure the loan is properly finalized. Over time, these two professionals can develop strong, strategic alliances that provide many benefits. For example, real estate agents can bring more business to
The Professional Background Screening Association reports that nearly 93 percent of employers run background checks on potential employees. However, not all background checks are the same, and understanding the nuances is crucial for job applicants to navigate this aspect successfully. To ensure a seamless experience,
Criminal background checks are an important part of the hiring process for most companies. However, there are some limits to the information that these background checks can report under the law. One such example is the “7-Year Lookback Rule”, which limits the information that consumer
According to the consumer reporting agency LexisNexis, mortgage fraud costs have increased by 16.2% since 2020. Today, it costs financial institutions roughly $4.23 to address every $1 lost to mortgage fraud. Available data shows mortgage fraud, which refers to illegal activities that loan officers, brokers,
The United States Citizenship and Immigration Services USCIS issued a new downloadable Form I-9, last August 1, 2023, that updates the processes. The previous version of the form is now only valid until October 31. Due to the recent increase in fines, compliance with the