gray875•2mo ago

Back in 2018, I thought the whole 'biased algorithm' thing was mostly hype. Then my cousin's loan application got flagged for a manual review.

3 comments

3 Comments

bennett.harper2mo agoMost Upvoted

So what happened with the review, did they get the loan?

roberts.leo2mo ago

Yeah they got it, bennett.harper. I used to think those reviews were just a quick check, but they dug deep into the cash flow for the last quarter. The delay was because they wanted more details on a couple of big client contracts.

allen.iris2mo ago

Same thing happened to my friend's small business loan last year. They pulled bank statements from six months back and questioned every transfer over a few hundred bucks. @roberts.leo is right, it's never just a quick look. They approved it but it took three extra weeks.