Clark Hill PLC issued the following announcement on Jan. 3.
Clark Hill Member Joann Needleman was quote in a December 2019 article from Inside Mortgage Finance while discussing the benefits and risks of using alternative data in mortgage lending.
“Regulators will need to provide a bit more guidance than simply stating it’s okay to use alternative data,” Needleman said in the article.
“With the use of alternative data, will a lender have to now turn over their analysis of the alternative data they used to the consumer? I see a great deal of risk exposure here.”
Original source can be found here.