AHFL has a personal discussion with the applicant/co-applicant and verifies
mandatory information such as identity, income, bank account, and
credit record. Property details and the validity and enforceability of the
title being mortgaged are also checked. AHFL finally conducts a field-level
verification of the applicant/co-applicant’s residence and place of work.
Many low-income customers, however, lack formal borrowing histories
and face challenges in providing standard documentation. AHFL may
thus waive some requirements or accept alternative documentation. For
example, women applicants, as well as co-applicants who are illiterate
or semi-literate may provide a notarized photo affidavit to confirm identity.
When customers cannot provide standard income documents, AHFL
verifies income through field visits. AHFL assess the reputation, business,
and finances of a salaried applicant’s employer or the sales and purchase
records of a self-employed applicant.