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responsible lending, responsible lending obligations, income and expense verification requirements, verifying income, expenses and liabilities, HEM, household expenditure measure, Loanworks, Loan origination Software, MOGOPLUS, aggregated data, aggregated data service, digital banking, digital technology, digital processes,
27 May
Comply with verification requirements or explain yourself, lenders warned
Lenders must show that they’ve taken “reasonable steps” to verify loan applicants’ financial data, or face having...
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