Verification of Income and Employment (VIE)

The Problem: In the U.S., prior to the 2008 meltdown in the subprime and Alt A residential mortgage markets—which contributed greatly to the ensuing financial crisis and Great Recession—verifying a prospective borrower’s income and employment (their ability to repay) was uncommon. The failure to establish a borrower’s capacity was a near fatal weakness in the […]

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