What Are The Best Verification Options Of Mr Lender?
Every borrower loves inviting responsible lending only but this kind of lending never comes without proper checks. If you check the current reports online, then you will come to know that Mr Lender is one of the most responsible lenders of the era. Though there are many alternatives to Mr Lender that are following these checks but sincere checks are only conducted by Mr Lender.
Not only application-form is being checked but the document-details are also being cross-verified. This checking is not only advantageous for the concerned lender but it is very much beneficial for borrows as well. If you visit the official page of Mr Lender then you will surely be able to discover the commonest checks that are usually conducted as a part of borrowers’ verification.
Types of verification involved:
- Creditworthiness checking: This checking basically incomes verification of this fact that whether the applicant is receiving a fixed-income per month or not. If no fixed-income is there then the lender will not take the risk of giving loans. If creditworthiness is being proved correctly then you can even receive loan within few hours on the same day of application. This verification needs to be conducted by expert verifiers. These professionals basically collect necessary information about the sources from where the applicants are receiving income on a continuous basis.
- Credit-core checking: This checking is usually conducted for verifying credit-score. This checking enables lender knowing about different facts like new credit, credit-types already opened, repayment credit-history, outstanding credit and other related ones. These facts are really quite important for lenders to judge that whether the borrowers are eligible for receiving loans or not. If the borrower is found to have multiple credits with huge outstanding then the lender will not definitely show any interest in giving a loan to him as that will be quite a risky affair.
- Phone-call confirmation: A phone-call round of confirmation is also involved in order to verify the details. This call-conformation is usually involved when you have made the loan-application electronically or online. Final details are being verified by means of the best underwriting-teams. This is how fraudulent applications can be easily identified. These calls are being made just for gaining confidence that the borrowers are absolutely genuine.
- Repeat-customer checking: The lender will try to find out from the application first that whether the applicant is an old-borrower or not. This can be known only when the application-data is being inserted with their system. The system will automatically reveal that whether the application is new or old. Old-borrowers’ affordability-limit and creditworthiness can be easily judged as their documents are already with the lender.
If the reports of all these above checks come positive then only you will get the eligibility of availing the loan amount. You might come across many alternatives to Mr Lender where these checks are not involved but secured lending is not provided by any of them. This is the only reason that the craze and popularity of Mr Lender are going on increasing like anything.