Risk Management – What’s in your toolkit?
The role of any risk assessment team is, in many ways, to predict the future outcome of a potential borrower by making judgement decisions based on information currently available. Accomplishing this requires consideration of a wide variety of factors and adaptations to real-time information changes.
Assessing the risk of a loan is an essential step for any lender. That said, the process itself can be time-consuming, labor-intensive and easy to make errors in, particularly if done manually.
To overcome those obstacles, a quality Loan Origination Software (LOS) solution will provide support in refining risk management procedures.