In the previous episode of “The Chrisman Commentary” podcast, Joy Mina, Director of Product Commercialization at Experian, talked about the benefits of a waterfall strategy for income and employment verification. In the latest episode, Joy explores common misconceptions around verifications, such as how a lender needs to put a provider with the most records first in their waterfall.
“While that might feel like a sure-fire way to cut costs, it isn’t necessarily the most effective,” said Joy. “Instead of comparing records, I would really encourage lenders to focus on a provider’s total cost to verify a consumer.”
Listen to the full episode to learn about more misconceptions associated with verifications and what you can do to enhance your strategies.
