Lending To The Non-Prime Borrower

Lending To The Non-Prime BorrowerThe non-prime space is defined as consumers with FICO scores less than 700. A company calledĀ “Elevate” has created a research group named the “Center for the Middle Class” to better understand non-prime borrowers and their needs. The panel has found that it’s important to provideĀ a fast and seamless decisioning process for these consumers. Panelists in this group also discuss other aspects of lending to non-prime consumers including the under-banked and best practices.