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Article: Building a One-Stop Shop For Managing Loan Risk.(News)
- Article from:
- National Mortgage News
- Article date:
- November 9, 2009
CopyrightCOPYRIGHT 2009 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Anthony Garritano
ATLANTA-A slew of major acquisitions, most recently of fraud detection vendor Rapid Reporting, are all part of Equifax's intent to become a single source for lenders to go to mitigate risk.
"There's a common phrase that says lenders are becoming risk averse, but I'm not sure they are. I think they're becoming more risk informed," said Tom Madison, senior vice president and general manager, mortgage services at Equifax here.
"They want to understand the risk they're taking on by doing a loan and they're also being more selective about the risk they take on. Lenders got in the habit of lending without any introspection ...