In the last two months of 2020, two-thirds of home buyers placed bids on properties without ever seeing the home in person. To operate in 2022, mortgage lenders increasingly rely on their online platforms to facilitate home buying and refinancing. While digital identity verification is critical to any online loan application, many mortgage lenders are considering how best to balance customer experience and risk.
GIACT’s new report, Improving the Mortgage Application Process Using Enhanced Identity Verification, identifies the impact of identity theft on mortgage lending and explains how identity verification can reduce fraud and streamline the customer experience.
- Evaluating the impact of identity theft on mortgage lending;
- Identifying variations of mortgage fraud and how fraud operators deploy various identity theft tactics to execute fraud schemes; and
- How integrated solutions can enhance and streamline the identity verification process for lenders.