Mar, 15
2023
Business, Free News Articles, Software

GreenLyne adopts FormFree’s Residual Income Knowledge Index to unlock greater inclusivity in mortgage lending

ATHENS, Ga. -- FormFree® today announced that Inclusive-Finance-as-a-Service platform GreenLyne has enhanced its ability to help lenders identify home financing opportunities for underserved consumers with its adoption of FormFree's Residual Income Knowledge Index™ (RIKI™).

GreenLyne technology enables mortgage lenders to finance borrowers who have the capacity to support a mortgage but typically would be deemed ineligible for home financing. FormFree's patent-pending RIKI (pronounced "RIH-kee") is a risk-analysis model that analyzes cash flow and residual income to ascertain a more complete picture of a borrower's creditworthiness than traditional credit scoring alone. By incorporating RIKI into its Automated Second-Look Engine, GreenLyne can more precisely and fairly predict a borrower's risk of default and thereby set appropriate loan terms that balance profitability for the lender and affordability for the homebuyer.

Because standard underwriting models are unable to assess default risk for borrowers who have thin credit files or FICO scores below 660, these borrowers are often excluded from housing finance. According to the Urban Institute, more than 39 million Americans have a credit score between 600-660 and are mortgage-ready, yet struggle to obtain a mortgage.

"Too many consumers who have a steady income and dutifully pay their bills on time are being excluded from homeownership because mortgage lenders haven't had tools to assess their ability to pay. In effect, these consumers are being punished for an industry's weakness, which is profoundly unfair," said FormFree Founder and CEO Brent Chandler. "We are proud to provide GreenLyne with RIKI's residual income analytics so it can pave a more inclusive path to homeownership for a large cohort of Americans."

"GreenLyne's fair lending credit underwriting innovation provides a precise path to safely and soundly expand homeownership for a large, unfairly underserved segment of Americans," said GreenLyne CEO Syeed Mansur. "We are delighted to forge a deep partnership with FormFree, which couples a new era of consumer financial data with breakthrough advances in high accuracy credit risk prediction and fair underwriting that optimally balance affordability for borrowers and profitability for lenders."

About FormFree®

FormFree helps lenders understand credit risk like never before with its patented Passport® product, which opens doors to more inclusive credit decisioning by revealing each customer's true ability to pay (ATP®), and patent-pending Residual Knowledge Income Index™ (RIKI™), an innovative method for evaluating consumer creditworthiness based on residual income analysis. For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

Related link: https://www.formfree.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Mar, 02
2023
Awards and Honors, Business, Free News Articles

FormFree selected to HousingWire Tech100 for the ninth year

ATHENS, Ga. -- FormFree® today announced its inclusion in HousingWire's (HW's) annual Tech100 list for the ninth year. The HW Tech100 Mortgage Awards recognize the U.S. housing economy's most innovative and influential fintech companies and solutions.

Since 2008, FormFree has brought to market several first-of-its-kind solutions designed to help mortgage lenders underwrite loans more efficiently. It is the maker of Passport®, a solution that gives lenders more comprehensive insight into borrowers' true ability to pay (ATP®). Last October, FormFree launched its Residual Income Knowledge Index™ (RIKI™), a groundbreaking tool that helps lenders better determine risk based on residual income analysis. Both solutions enable mortgage lenders to adopt more inclusive credit decisioning practices.

"This is FormFree's ninth year as a HW Tech100 company, and it is truly an honor to see our logo represented alongside other enterprising housing technology organizations," said FormFree Founder and CEO Brent Chandler. "Digital asset verification was cutting-edge when we introduced it to the mortgage industry more than a decade ago. Now, we plan to transform the finance industry a second time by making home financing and the wealth-building benefits of homeownership accessible to more people with RIKI and Passport."

"As someone who had a front-row seat to watch the housing economy's tech transformation, I am increasingly in awe of the innovation we have seen from the Tech100 winners year after year," HW Media Editor in Chief Sarah Wheeler said. "With new technologies emerging every day, I am proud to be part of this exciting journey that has positioned the industry to be more efficient, more transparent and more accessible than ever before."

HW receives hundreds of HW Tech100 award nominations each year. Submissions are carefully evaluated by a selection panel of industry leaders and HW's editorial team. 2023 Tech100 Mortgage and Tech100 Real Estate honorees are featured in the March issue of HW Magazine and on the HW website.

About FormFree®

FormFree helps lenders understand credit risk like never before with its patented Passport® product, which opens doors to more inclusive credit decisioning by revealing each customer's true ability to pay (ATP®), and patent-pending Residual Knowledge Income Index™ (RIKI™), an innovative method for evaluating consumer creditworthiness based on residual income analysis. For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

Related link: https://www.formfree.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Jan, 05
2023
Awards and Honors, Business, Free News Articles

FormFree’s Brent Chandler named a 2023 Industry Titan by National Mortgage Professional

ATHENS, Ga. -- FormFree® today announced that its founder and CEO Brent Chandler was featured in National Mortgage Professional's list of 2023 Industry Titans. The inaugural Industry Titans awards program recognized 24 of the most notable leaders in mortgage lending.

Chandler was honored for his numerous achievements in the housing finance ecosystem, including being the first to bring electronic asset verification to mortgage lending with FormFree's pioneering product, AccountChek®. Using consumers' direct-source bank data, AccountChek combines verification of a loan applicant's assets, income, employment and rent payment history into one paperless step. It then automatically delivers findings to financial institutions in a single, underwriter-friendly report.

Chandler broke new ground again with the October 2022 release of FormFree's Residual Income Knowledge Index(tm) (RIKI(tm)). With rules-based alternative credit algorithms, RIKI measures consumers' ability to pay (ATP®) for a loan based on their monthly income and spending, opening the credit box for the 53 million American consumers without a credit score and 100 million renters who receive no credit for their monthly rent payments.

"For more than a decade, our incredible team at FormFree has focused on developing solutions to reduce long-standing biases in credit decisioning and help expand access to sustainable credit for historically underserved communities," said Chandler. "I'm humbled that this passion has earned me recognition among some of the most influential leaders in the mortgage industry."

The 2023 Industry Titans are featured in the January 2023 issue of National Mortgage Professional magazine. Winners' profiles can also be viewed online at https://nationalmortgageprofessional.com/news/meet-nmp-2023-titans-industry.

About FormFree®

As the industry's go-to provider for direct-source VOA and VOI/E data, FormFree helps lenders understand credit risk like never before. Our patented AccountChek® and Passport® products open doors to more inclusive credit decisioning by revealing each customer's true ability to pay (ATP®). We have completed over $4 trillion in loan verifications that help lenders lower operating costs while improving the borrower experience.

For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

Related link: https://www.formfree.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Nov, 01
2022
Alliances and Partnerships, Business, Free News Articles

FormFree expands its verification of income and employment network through partnership with Truv

ATHENS, Ga. -- FormFree® announced that it has partnered with Truv to enhance AccountChek®'s verification of income and employment (VOI/E) reporting capabilities with Truv's payroll provider network, expanding the modern convenience of electronically sharing payroll data with mortgage lenders to 120 million workers.

AccountChek streamlines the mortgage lending process by making it easy for borrowers to electronically furnish the financial and employment data that lenders need to fulfill underwriting requirements and assess ability to pay (ATP®). When borrowers authorize payroll providers to electronically share direct-source payroll data, AccountChek securely delivers it to lenders and the government sponsored enterprises (GSEs) in underwriter-friendly reports that include the borrower's six most recent paystubs, most recent W-2 and the ability to refresh documentation within 10 days of closing.

Dedicated to serving the unique verification needs of mortgage lenders, FormFree has more than 100 integrations with industry-relevant technology providers and reseller partners, making AccountChek's verification of asset (VOA) and VOI/E services available for more than 90% of mortgage transactions nationwide. FormFree closely collaborates with Fannie Mae and Freddie Mac to support verification initiatives that help lenders streamline processes without incurring additional risk.

"Expediting time-to-close, reducing loan production costs and improving borrower experience are priorities for mortgage lenders of every stripe," said FormFree Founder and CEO Brent Chandler. "Expanding our payroll provider network by partnering with Truv enables mortgage lenders to extend the ease of electronic payroll data verification to millions of workers while lessening staff time spent collecting and verifying physical paystubs and other paper documents."

"Truv is proud to bolster FormFree's VOE and VOI reach with our expansive payroll and human resources information system integrations," said Kirill Klokov, CEO of Truv. "We look forward to continuing to build out capabilities that help our customers serve their clients."

About FormFree®

FormFree® is a market-leading fintech company whose revolutionary products AccountChek® and Passport® make for a more inclusive credit decisioning landscape by enabling lenders to understand people's true ability to pay (ATP®). Our vision is to leverage source data and data-driven intelligence to usher in a new era of transparent, fair and liquid credit markets. To date, thousands of U.S. lenders and brokers have ordered millions of FormFree's patented verification reports representing trillions of dollars in loan verifications. FormFree delights borrowers and lenders with a paperless experience, dramatically reduces origination timelines and offers automated analysis and standardized delivery to lenders and investors using a secure ReIssueKey®. For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

About Truv

Truv (truv.com), formerly known as Citadel API, empowers enterprise businesses to make confident financial decisions. Truv is a best-in-class verification technology that delivers fast, accurate, and cost-effective consumer income and employment data for financial institutions. Truv's customers make faster, more confident decisions, while consumers benefit from quicker approvals and a better overall experience. Truv's automated and secure infrastructure connects to 50+ payroll providers, covering 120 million people and 85 percent of the US workforce.

Related link: https://www.formfree.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Oct, 20
2022
Business, Free News Articles

FormFree supports Freddie Mac’s launch of innovative underwriting enhancement that uses cash flow analysis to help increase home financing access

ATHENS, Ga. -- FormFree® today announced that mortgage lenders will be able to use AccountChek® to help more lenders qualify more borrowers for home financing as a result of a recently announced Freddie Mac initiative that analyzes loan applicants' account transaction data as part of its automated underwriting system, Loan Product Advisor® (LPA℠). AccountChek users will be able to take advantage of LPA's enhancement when it goes live on November 6, 2022.

"By incorporating borrowers' cash flow assessments into its purchase eligibility assessment, Freddie Mac is helping lenders confidently provide a more inclusive path to homeownership within the communities they serve," said FormFree Founder and CEO Brent Chandler. "This additional assessment will also be beneficial to underserved communities and first-time homebuyers, who may have the financial means to support homeownership but have been unable to attain financing with existing automated risk tools."

When mortgage loan applicants authorize AccountChek to electronically fulfill verification of asset (VOA) reporting requirements, LPA assesses transaction data from checking, savings and investments accounts to identify positive monthly cash flow patterns. The cash flow assessment is only used to positively affect loan applicants' credit risk assessments; it does not negatively impact applicants' credit risk assessments. To help lenders increase access to home financing for more borrowers, LPA will notify lenders of loan files that do not have an electronic VOA report and could benefit from a cash flow assessment.

FormFree has long been a proponent of leveraging consumers' direct-source financial data to better assess their ability to repay loans. FormFree independently developed its Residual Income Knowledge Index(tm), known as RIKI(tm) (RIH-kee), which measures consumers' Ability-to-Pay (ATP®) for mortgages and other loans based on monthly income and spending. In July, Guild Mortgage introduced its Complete Rate lending program, which leverages RIKI to provide a more inclusive path to homeownership. In October, FormFree made RIKI available to lenders nationwide.

About FormFree®

As the industry's go-to provider for direct-source VOA and VOI/E data, FormFree helps lenders understand credit risk like never before. Our patented AccountChek® and Passport® products open doors to more inclusive credit decisioning by revealing each customer's true ability to pay (ATP®). We have completed over $4 trillion in loan verifications that help lenders lower operating costs while improving the borrower experience. For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

Related link: https://www.formfree.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Oct, 18
2022
Business, Free News Articles, Software

FormFree’s AccountChek can now be used by mortgage lenders to satisfy Freddie Mac’s assessment of income requirement for loan applicants paid through ADP

ATHENS, Ga. -- FormFree® today announced that mortgage lenders can now use AccountChek® to automate income assessment using Freddie Mac Loan Product Advisor® (LPA℠) asset and income modeler (AIM) for borrowers who are paid through ADP.

AIM automates the assessment of borrower income using direct-source employer and payroll service data furnished by a Freddie Mac designated third-party service providers like FormFree. ADP is the first payroll provider eligible for automated verification of income (VOI) through AIM. AccountChek supports this expansion by enabling borrowers to authorize electronic verification of their ADP payroll data.

FormFree is a leading provider of consumer-permissioned verification of asset (VOA) and verification of income and employment (VOI/E) data to the mortgage industry. The company's flagship verification service, AccountChek, enables consumers to verify income and employment with more than 50 payroll providers and 100,000 employers. The company's extensive payroll partnerships enable AccountChek to furnish payroll data and W-2s that meet Freddie Mac selling requirements.

"FormFree applauds Freddie Mac for its continuous innovation that helps lenders execute a simpler, more efficient loan origination process," said FormFree Founder and CEO Brent Chandler. "Giving lenders the ability to automatically assess income dispersed by the world's largest payroll provider will extend the convenience of digital VOI to an expansive cohort of homebuyers. We look forward to supporting Freddie Mac as it adds more payroll providers to AIM."

"Automation of a mortgage applicant's income using payroll provider data has numerous benefits for our clients and their customers - it's really a win all around," said Kevin Kauffman, Single-Family Vice President of Client & Partner Delivery at Freddie Mac. "Our partnership with FormFree is helping our clients reduce costs through process efficiencies, which can lead to savings for their customers, and it also delivers better risk management in all economic cycles."

About FormFree®

As the industry's go-to provider for direct-source VOA and VOI/E data, FormFree helps lenders understand credit risk like never before. Our patented AccountChek® and Passport® products open doors to more inclusive credit decisioning by revealing each customer's true ability to pay (ATP®). We have completed over $3 trillion in loan verifications that help lenders lower operating costs while improving the borrower experience.

For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

Related link: https://www.formfree.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Oct, 06
2022
Business, Free News Articles, Product Launches, Software

FormFree releases Residual Income Knowledge Index, an intelligent new system for assessing borrowers’ Ability to Pay, to lenders nationwide

ATHENS, Ga. -- FormFree® today announced the general availability of its Residual Income Knowledge Index™, or RIKI™. RIKI is an innovative method for measuring consumers' Ability-to-Pay (ATP®) for mortgages and other loans based on monthly income and spending. When paired with traditional credit scoring models, RIKI offers lenders a more complete understanding of consumers' creditworthiness and creates homeownership opportunities for those with little to no credit history.

RIKI's knowledge-engineered rules are informed by human financial experts and are designed to help lenders mitigate risk through a more nuanced understanding of borrowers' spending habits and ability to save. With a borrower's consent, FormFree calculates residual income and RIKI by analyzing bank and credit card transaction statements procured directly from the source financial institutions. By giving lenders a better understanding of a borrower's discretionary funds after mandatory monthly expenses (e.g., rent, utilities, loan payments), RIKI helps lenders extend credit more inclusively and confidently.

In July, San Diego-based Guild Mortgage (NYSE: GHLD) became the first lender to pilot RIKI with its launch of Complete Rate, a program that provides a more inclusive path to homeownership by allowing consumers with no credit score or credit history to opt in to RIKI's assessment of their financial data for a chance to qualify for a lower interest rate, lower fees or both.

"Our Complete Rate program, powered by FormFree's RIKI, helps remove a key obstacle faced by many first-time homebuyers and has allowed Guild to better serve consumers in a challenging interest-rate environment," said David Battany, Guild Mortgage's EVP of capital markets. "By supplementing consumers' credit scores with analysis of their real transaction data, our groundbreaking approach democratizes the credit decisioning process for those who need it most - historically underserved racial and ethnic groups, consumers with thin credit files and people without traditional full-time jobs."

RIKI is now available to banks, credit unions and independent mortgage banks (IMBs) across the United States. The rule-based algorithms driving the now-public feature have been painstakingly engineered without blackbox machine learning and tested to ensure RIKI cannot develop unintended prejudices. FormFree's cash flow analysis also automatically identifies and disregards outliers in a consumer's income and spending history to ensure that occasional windfalls, money transfers or large purchases do not affect ATP estimates.

"Traditional credit scoring systems are designed to reward a very specific type of borrower: one with a W-2, a strong credit history and a good debt-to-income ratio. Unfortunately, these risk determination methods bar countless mortgage-ready Americans from affordable homeownership," said Brent Chandler, founder and CEO of FormFree. "RIKI rewards something more basic and uncontroversial than credit history: simply making ends meet. When considered with a credit score, insight into consumers' ability to pay and save adds an extra layer of certainty when determining borrower risk."

To learn more about RIKI and request a personalized demo, visit https://www.formfree.com/residual-income-knowledge-index/

About FormFree®

As the industry's go-to provider for direct-source VOA and VOI/E data, FormFree helps lenders understand credit risk like never before. Our patented AccountChek® and Passport® products open doors to more inclusive credit decisioning by revealing each customer's true ability to pay (ATP®). We have completed over $3 trillion in loan verifications that help lenders lower operating costs while improving the borrower experience. For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

Related link: https://www.formfree.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Sep, 15
2022
Business, Free News Articles, NonProfit and Charities, Sports and Activities

FormFree raises $55,000 for the American Red Cross of Northeast Georgia at its third annual Heroes Golf Classic

ATHENS, Ga. -- FormFree® today announced that it raised $54,705 to benefit the Northeast Georgia chapter of the American Red Cross at its annual Heroes Golf Classic charity golf tournament. Now in its third year, the September 9 event brought together volunteers and 84 at the Lanier Islands Legacy Golf Course in Buford, Georgia to raise funds for local blood drives, humanitarian aid and educational programs.

The American Red Cross of Northeast Georgia is a 501(c)(3) nonprofit organization that provides direct service to 23 Georgia counties by supporting the collection, testing and distribution of blood and blood components in the region, providing emergency resources for military families, facilitating lifesaving training and helping communities impacted by disasters.

FormFree Founder and CEO Brent Chandler joined the organization's board of directors in 2017, and FormFree was named the chapter's 2021 Corporate Blood Sponsor of the Year.

"I truly believe that giving is the highest form of living, so it is with great joy that FormFree gives back to the local community through the American Red Cross of Northeast Georgia," said Chandler. "Thank you to all the FormFree friends who gave time and funds by volunteering, sponsoring and playing in the 2022 Heroes Golf Classic. By giving back to those in need, we all gained purpose through service. There is nothing more valuable than that."

"The Heroes Golf Classic is FormFree's largest annual fundraiser for the American Red Cross of Northeast Georgia, but FormFree's contributions are not limited to this event. FormFree champions our mission year-round through in-office blood drives and employee volunteer work," said Marlon Trone, executive director of the American Red Cross of Northeast Georgia. "The $55,000 raised at this year's Heroes Golf Classic goes to show how our partnership with FormFree broadens our ability to serve military families and those affected by disasters in the Northeast Georgia region and beyond."

FormFree is grateful to the following corporate sponsors for their generous support of the 2022 Heroes Golf Classic:

* Wells Fargo

* MCT

* Ameris Bank

* HomeScout

* Lenders One

* DepthPR

* Gateway Compliance

* Northpointe Bank

* Synovus Bank

* MX

About FormFree®

As the industry's go-to provider for direct-source VOA and VOI/E data, FormFree helps lenders understand credit risk like never before. Our patented AccountChek® and Passport® products open doors to more inclusive credit decisioning by revealing each customer's true ability to pay (ATP®). We have completed over $3 trillion in loan verifications that help lenders lower operating costs while improving the borrower experience.

For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

Related link: https://www.formfree.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Aug, 29
2022
Alliances and Partnerships, Business, Free News Articles, Software

FormFree integrates with Docutech to streamline loan production with VOA and VOI/E capture

ATHENS, Ga. -- FormFree® today announced the integration of AccountChek®, a service that allows lenders to verify borrowers' assets, income, employment and rent payment history, with Solex®, a comprehensive eDelivery, eSign, eClose and eVault platform from Docutech®, a First American company. By making AccountChek available during the initial disclosures phase of the mortgage process, the integration delivers an improved borrower experience, while saving lenders money and giving them greater choice in how to incorporate verification of assets (VOA) and verification of income and employment (VOI/E) into the mortgage workflow.

As an omni-channel solution, AccountChek offers cost- and time-saving benefits to retail, consumer-direct, wholesale and correspondent originators alike. Notably, the integration between AccountChek and Solex helps wholesale lenders differentiate themselves with process efficiencies their broker networks have not historically been able to access. Additionally, because AccountChek delivers rent payment history along with VOA and VOI/E, it allows brokers to better serve 'credit invisible' borrowers with thin credit files thanks to expanded investor underwriting guidelines that take rent payments into consideration when assessing borrower credit risk.

"Rolling a VOA/IE option into the electronic signing experience within Solex provides our clients with a valuable opportunity to compress loan cycle times at a critical milestone in the lending process," said Docutech President Emily Shapiro. "Our integration with FormFree is seamless, secure and makes it easy for borrowers to take the next steps on their home ownership journey."

"The integration between AccountChek and Solex elegantly combines two loan milestones into a single, paperless process and places verification of a borrower's ability to pay at the earliest engagement point in the mortgage process," said FormFree CEO Brent Chandler. "It's more convenient for the borrower and more efficient for lenders at a time when conversion and process optimization are at the top of every mortgage originator's wish list."

About FormFree®

FormFree® is a market-leading fintech company whose revolutionary products AccountChek® and Passport® make for a more inclusive credit decisioning landscape by enabling lenders to understand people's true ability to pay (ATP®). Our vision is to leverage source data and data-driven intelligence to usher in a new era of transparent, fair and liquid credit markets. To date, thousands of U.S. lenders and brokers have ordered millions of FormFree's patented verification reports representing trillions of dollars in loan verifications. FormFree delights borrowers and lenders with a paperless experience, dramatically reduces origination timelines and offers automated analysis and standardized delivery to lenders and investors using a secure ReIssueKey®. For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

About Docutech

Docutech, a member of the First American family of companies, provides an end-to-end, integrated, digital mortgage experience - from document generation to eDelivery, eClose and automated print fulfillment. Docutech sets the standard in providing market-proven technology and unrivaled customer service to the financial industry. Founded in 1991, and acquired by First American in 2020, Docutech has become a technology powerhouse, with the marriage of their innovative technology and the distribution, expertise and financial strength of First American. For more information, visit www.docutech.com or follow Docutech on LinkedIn.

Related link: https://www.formfree.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Aug, 22
2022
Alliances and Partnerships, Business, Free News Articles, Software

FormFree and Finastra partnership streamlines borrower verification for improved mortgage loan processing

ATHENS, Ga. -- Finastra and FormFree®, a market-leading fintech company that enables lenders to understand people's true ability to pay (ATP®), have partnered to further streamline electronic borrower verification for mortgage lenders. FormFree's AccountChek will integrate directly into Finastra's Mortgagebot solutions to facilitate an automated asset, income and employment verification process that paves the way for faster loan decisioning.

"Partnering with Finastra has enabled us to further optimize the borrower verification process for AccountChek and Mortgagebot users," said Brent Chandler, founder and CEO at FormFree. "Notably, the integration makes it easier for lenders to support the government sponsored enterprises' verification initiatives that help expand access to homeownership and streamline processes without incurring additional risk. Combined, Finastra and FormFree's technologies and shared vision for fair and inclusive access to home financing will help lenders deliver an elevated borrower experience."

Fusion Mortgagebot is Finastra's end-to-end cloud-based lending platform that maximizes operational efficiency and mortgage opportunities for lenders. The integration of FormFree's AccountChek delivers significant time savings with its streamlined verification process. Borrower permissioned asset, income and employment data is retrieved and formatted into underwriter-friendly reports, providing lenders with full transparency and direct-source data for better credit decisioning while reducing processing time and risk of fraud.

Steve Hoke, vice president, mortgage and origination at Finastra said, "FormFree provided us with the perfect solution to help further streamline what is traditionally a very manual and labor-intensive task. For both lenders and borrowers, this added verification capability to our lending solution will have a significant impact on the loan cycle, creating a more efficient, secure and inclusive process."

The FormFree integration is available now for Fusion Originate Mortgagebot and Fusion MortgagebotLOS users in the Americas.

For more information on Fusion Mortgagebot, click here.

About FormFree®

As the industry's go-to provider for direct-source VOA and VOI/E data, FormFree helps lenders understand credit risk like never before. Our patented AccountChek® and Passport® products open doors to more inclusive credit decisioning by revealing each customer's true ability to pay (ATP®). We have completed over $3 trillion in loan verifications that help lenders lower operating costs while improving the borrower experience. For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

About Finastra

Finastra is a global provider of financial software applications and marketplaces, and launched the leading open platform for innovation, FusionFabric.cloud, in 2017. It serves institutions of all sizes, providing award-winning solutions and services across Lending, Payments, Treasury & Capital Markets and Retail & Digital Banking for banks to support direct banking relationships and grow through indirect channels, such as embedded finance and Banking as a Service. Its pioneering approach and commitment to open finance and collaboration is why it is trusted by ~8,600 institutions, including 90 of the world's top 100 banks. For more information, visit finastra.com.

Related link: https://www.formfree.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

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