Underwriting the Ghost: Synthetic Borrowers Disappear Without Paying

When a lender receives a loan application, it endeavors to ensure that the applicant will pay the lender back. But even with the proper controls, a certain percentage of loans go unpaid. Especially if the applicant looks really good on paper, but isn’t…and doesn’t even exist because it’s a synthetic identity. PYMNTS describes the threat … Continue reading Underwriting the Ghost: Synthetic Borrowers Disappear Without Paying