For decades, financial systems operated on a quiet assumption: most information entering the system was fundamentally real.
Documents might arrive incomplete. Borrowers might omit details. Fraud existed at the margins. But lending infrastructure was built around a world where verification happened slowly enough for human judgment and institutional friction to absorb uncertainty.
The system was imperfect, but stable.
Manual underwriting created pauses. Processing delays created inspection windows. Human review acted as a crude but effective verification layer. Ironically, many of the inefficiencies the industry spent years trying to eliminate also slowed the movement of bad information through the system.
That assumption is now details ⇒
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