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Does your financial institution allow your lenders any form of discretion when it comes to pricing and/or underwriting loans?
It’s very common for lenders to make exceptions to loan policy, deviate from the rate sheet, etc. and there’s nothing wrong with doing so as long as it lines up with your Board and Management’s risk appetite. The other key is that you mitigate and manage the Fair Lending risk associated with allowing discretion. So, what does that mean?
Listen to Jerod explain more
See the full Fair Lending Training Library here!