Following the release of our Liabilities Endpoint, we’ve launched a Liabilities Dashboard that allows lenders to get a complete and up-to-date picture of a borrower’s liabilities and cashflows in order to easily gauge a borrower’s ability to handle debt.
Who this dashboard is for
- Risk teams looking to automate their underwriting process
- Lenders looking to run debt payoff scenarios
- Companies building debt management screens
Why we built this
Discrepancies between credit reports and bank account information make it difficult to answer questions like:
- Is the borrower making their debt payments on time?
- Does the borrower have liabilities that don’t appear in their credit report?
- Can the borrower afford to make a new monthly loan payment?
How it Works
Pave ingests, cleans, and unifies multiple data sources including credit reports, bank aggregators like Plaid and MX, and debt management APIs like Method.
- Upload a user’s bank transactions, credit reports, and/or data from debt aggregators like Method
- Pave automatically unifies the loan payments in bank transaction data with the corresponding tradeline in credit data
- Access the borrower’s unified list of liabilities and select different liabilities for payoff
- See the user’s revised monthly cashflow (with the payoff factored in) to run debt payoff scenarios
Here’s a demo of how the dashboard works:
Use Cases
- Debt consolidation: Efficiently model different consolidation scenarios to offer users payoff options
- Personalize debt management experiences: Recommend optimal debt payoff plans based on users’ cash flows and interest rates
FAQs
How do I access the Liabilities Dashboard?
Reach out to howdy@pave.dev if you’d like to explore this dashboard and we’ll provide access!
Where can I see more analytics on a user’s liabilities?
The liabilities dashboard is powered by our liabilities endpoint. You can read more about the liabilities endpoint here.
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