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

Alliances and Partnerships, Business, Free News Articles, Software

Docutech and Cloudvirga Partner to Help Loan Officers Work More Efficiently

IRVINE, Calif. -- Cloudvirga(TM), developer of intelligent mortgage point-of-sale (POS) platforms, today announced a partnership with Docutech that will enable Cloudvirga's lender customers to work more efficiently, reduce the cost of document compliance and make the home loan experience more convenient for borrowers.

Docutech is the leading provider of document and compliance technology for mortgage, home equity and consumer lending. Its flagship ConformX(TM) dynamic document generation engine will integrate seamlessly with Cloudvirga's digital mortgage platform, pulling data directly from the POS and leveraging rules-based intelligence to automate the creation of accurate and compliant loan disclosures for all 50 states. The combination of Cloudvirga's comprehensive loan data and Docutech's built-in compliance checks will give loan officers confidence that loan packages are accurate and compliant from the start.

Cloudvirga will also offer Docutech's Solex(TM) eSign and eDelivery functionality. Solex enables borrowers to compliantly review and sign documents using any web-enabled device. When paper delivery of the loan package is required, ConformX print and mail fulfillment service will ensure documents are delivered in the required timeframes.

"By seamlessly combining Cloudvirga's automated workflow, comprehensive guidelines and calculations for all loan products with Docutech's comprehensive suite of document and compliance solutions, we're empowering loan officers to generate disclosures with ease - and to get it right the first time, every time," said Cloudvirga Co-founder and Chief Strategy Officer Kyle Kamrooz.

"Our integration with Cloudvirga enables us to help more loan originators transition away from paper processes that are manual, time-intensive and inflexible in favor of dynamic, technology-enabled processes that streamline operations, improve processing speed and accuracy, reduce cost and delight customers," said Amy Brandt, president and COO of Docutech.

Eight of the top 40 non-bank lenders have chosen Cloudvirga because it re-engineers the mortgage workflow to give consumers greater control over the loan application process and accelerate the mortgage sales funnel for loan officers. The company's digital mortgage technology delivers underwriter-ready loan applications with unmatched speed and quality, resulting in massively reduced costs to produce.

About Cloudvirga(TM):

Cloudvirga's intelligent mortgage point-of-sale (POS) platforms uniquely combine a world-class borrower experience with a truly digital lender platform that radically cuts overall loan costs, increases transparency and reduces the time to close a loan. Founded by top fintech veterans with a track record of building successful mortgage technologies, Cloudvirga's initial customer roster includes eight of the top 40 non-bank mortgage originators. To date, Cloudvirga has raised over $25 million from some of the country's top lenders and venture capital firms. For more information, visit http://www.cloudvirga.com/ or follow Cloudvirga on LinkedIn.

About Docutech

Founded in 1991, Idaho Falls, Idaho and Scottsdale, Ariz.-based Docutech offers a wide range of document technology solutions for mortgage, home equity, and consumer lending from document generation to eDelivery, eSign, eClose, and print fulfillment. The company sets the standard in providing market-proven technology and unrivaled customer service to the financial industry. Docutech's knowledge and solutions empower lending professionals to efficiently produce accurate loan packages in all 50 states to ensure compliance with constantly changing laws and regulations. For more information, visit the company's website at http://www.docutech.com or follow them on social media at LinkedIn or Twitter @Docutech.

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