When COVID-19 first rocked the U.S. economy in March 2020, mortgage lenders had to be nimble in a variety of areas. Mortgage interest rates hit record lows and origination volume surged. At the same time, a number of individuals were facing job losses. This meant that lenders were having to adapt the method in which they evaluated borrower income while simultaneously handling an influx in refinance and purchase demand. 

It was in the midst of this important moment in history when Citizens Bank first began integrating a solution that would serve to reduce underwriting turn times and bring consistency to its income analysis process. This case study explores how Citizens was able to improve the quality and efficiency of its origination workflow using CoreLogic Credco’s FactCheck income analysis solution.