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Brokers are under growing pressure to ensure their clients’ financial positions are accurately reflected in loan applications. Tas Bindi speaks to brokers, aggregators and software providers about the role technology can play to help brokers stay on top of the evolving compliance regime.
Brokers will know well that many lenders have been tightening up their credit policies around income, expenses and benchmarking in recent months. The moves come against the backdrop of an ongoing financial services royal commission, which has highlighted many cases where non-qualifying loans were approved, only to end up in default.
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