The director of BBVA in Spain has responded to criticism by assuring that the bank grants mortgages with caution, prioritizing risk and profitability in a market he describes as highly competitive. The entity reports a 20% increase in new loans during the first quarter, maintaining an average cost of 2.4% for clients. According to the bank, this strategy ensures that mortgages remain affordable without yielding to external pressures.
How technology manages risk in mortgage lending 🏦
BBVA uses advanced scoring models and real-time data analysis to assess applicants' creditworthiness. These automated systems cross-reference variables such as income, credit history, and property value to assign a risk quota. The integration of APIs allows for nearly immediate income verification, reducing processing times. This technical architecture, based on machine learning, enables the bank to maintain a healthy portfolio and reject operations that do not meet the profitability thresholds set by management.
Mortgages for everyone, but with caution (and 20% more) 📈
Let's be clear, the bank's caution is so strict that they have granted 20% more mortgages. In other words, they are so cautious that they are lending as if there were no tomorrow, but careful, with plenty of controlled risk and profitability. The average cost of 2.4% is a bargain, as long as they don't scrutinize your paycheck too closely. The strategy is clear: do not yield to market pressure, only to the pressure from clients who pay on time.