Alliances and Partnerships, Business, Free News Articles

FormFree Teams Up with LexisNexis Risk Solutions to Revolutionize Digital Mortgage Loan Applications for Borrowers and Lenders

ATLANTA, Ga. -- FormFree(R) has teamed up with LexisNexis(R) Risk Solutions to help lenders intelligently pre-fill the Universal Residential Loan Application (Form 65/1003) for mortgage applicants. The combined solution, part of FormFree's Passport(TM) all-in-one verification app, significantly reduces the amount of information a consumer must manually input into a digital loan application, greatly simplifying the application process, minimizing input errors and improving the likelihood of completing the loan application.

How It Works

The LexisNexis Digital Mortgage Application Prefill solution works behind the scenes to verify the consumer's device, providing an initial layer of fraud defense before the transaction begins. Once the device is authenticated, consumers who opt to authenticate their identity and use the Passport electronic verification service can view, confirm and edit loan applications that have been prefilled with their personal information, including two year address history; assets and other real estate owned; employer information from Passport; monthly income; and combined housing expense information.

Value for Lenders

The combined solution allows lenders to provide a significantly improved online loan application experience. Benefits for lenders include:
* Improved mobile channel experience for consumers
* Minimized customer friction during the loan application process
* Seamless mitigation of fraud risk through fortified device and identity authentication
* Minimized operational costs through use of validated applicant data

"Passport gives customers an exceptionally streamlined way to apply for a loan, boosting efficiency and pull-through for lenders in a competitive market," said Brent Chandler, CEO of FormFree. "FormFree is advancing the industry's digital mortgage transformation to meet the evolving expectations of today's consumer. We're proud to offer our lender customers access to a capability that is so well aligned with our mission."

"Offering the LexisNexis Digital Mortgage Application Prefill solution to mortgage lenders through FormFree's Passport delivers a faster, mobile-ready and superior consumer experience while helping lenders showcase their differentiated digital mortgage capabilities," said Nick Larson, senior director for LexisNexis Risk Solutions. "Our combined service provides cleaner electronic data from trusted sources to lenders who in turn can offer consumers a quick and easy application experience. Seamlessly authenticating the consumer's device up front provides next-level consumer data privacy and identity fraud prevention."

Up-front device authentication is powered by LexisNexis(R) Digital Identity Network(R), a crowdsourced, cross-industry digital identity intelligence network comprised of some of the world's most trusted eCommerce, financial services and payments brands that enhances fraud and authentication decisioning while reducing friction for end users.

To request a demo of Passport by FormFree featuring LexisNexis Digital Mortgage Application Prefill, visit https://www.formfree.com/passport or stop by FormFree's booth #621 at the Mortgage Bankers Association's Annual Convention & Expo being held October 27-30 in Austin, Texas.

About FormFree(R)

FormFree(R) is a market-leading fintech company whose revolutionary products AccountChek(R) and Passport(TM) are changing the credit decisioning landscape and encouraging lenders nationwide to incorporate a more holistic view of each borrower's financial DNA. To date, thousands of U.S. lenders and brokers have ordered millions of FormFree's patented verification reports representing over a trillion dollars in loan verifications. FormFree delights borrowers and lenders with a paperless experience, reduces origination timelines by up to 20 days and offers automated analysis and standardized delivery to lenders and investors using a secure ReIssueKey(TM). A HousingWire TECH100(TM) company for four consecutive years, FormFree is based in Athens, Georgia.

For more information, visit https://www.formfree.com/or follow FormFree on LinkedIn (https://www.linkedin.com/company/formfree-holdings-corporation/).

About LexisNexis Risk Solutions

LexisNexis(R) Risk Solutions harnesses the power of data and advanced analytics to provide insights that help businesses and governmental entities reduce risk and improve decisions to benefit people around the globe. We provide data and technology solutions for a wide range of industries including insurance, financial services, healthcare and government. Headquartered in metro Atlanta, Georgia, we have offices throughout the world and are part of RELX (LSE: REL/NYSE: RELX), a global provider of information-based and analytics and decision tools for professional and business customers across industries. For more information, please visit https://www.risk.lexisnexis.com/ and https://www.relx.com/.

Twitter: @RealFormFree @LexisNexisRisk #URLA #Form1003 #digitalmortgage

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Books and Publishing, Business, Free News Articles

FormFree to Host James Deitch Book Signing at 2018 MBA Annual Convention

ATHENS, Ga. -- Automated verification provider FormFree(R) and co-sponsors LexisNexis Risk Solutions, LoanBeam, SingleSource and Teraverde will host a book signing and networking event featuring James Deitch, CPA, CMB, at the Mortgage Bankers Association's Annual Convention & Expo being held October 14-17 in downtown Washington, D.C. Free to registered convention attendees, the signing will take place Tuesday, October 16, from 4 to 6 p.m. in room 101 of the Walter E. Washington Convention Center.

FormFree's event will offer attendees a chance to hear Deitch speak and obtain a signed copy of his newest book, "Strategically Transforming the Mortgage Banking Industry," while networking with industry peers over cocktails and light hors d'oeuvres. All proceeds will benefit the MBA's Opens Doors Foundation, a nonprofit that grants mortgage and rental assistance to parents and guardians with critically ill or injured children.

Deitch, a 25-plus-year mortgage lending veteran, is co-founder and CEO of Lancaster, Pennsylvania-based consulting firm Teraverde Management Advisors. His first book, "Digitally Transforming the Mortgage Banking Industry," was a number-one best seller.

"We see MBA Annual as our opportunity each year to give back to the industry that has done so much for us," said FormFree Founder and CEO Brent Chandler. "This year, we are thrilled to team up with LexisNexis, LoanBeam, SingleSource and Teraverde to present Jim Deitch, a powerful author whose new book shines a light on the industry's need for transformation that is not just technologically advanced, but strategically sound - all while raising money for the MBA Opens Doors Foundation."

MBA convention attendees can RSVP for this event at https://events.blackbirdrsvp.com/formfree-mbaannual.

About FormFree(R)

FormFree is a fintech company whose market-leading AccountChek(R) Asset Reports are used by lenders nationwide to verify borrower assets, employment and income in minutes. To date, more than 1,000 U.S. lenders have ordered over 1.25 million AccountChek Asset Reports, delighting their customers with a paperless experience and reducing origination timelines by up to 20 days. FormFree offers automated analysis and standardized delivery to lenders and their investors using a secure ReIssueKey(TM).

A HousingWire TECH100(TM) company for four consecutive years, FormFree is based in Athens, Georgia. For more information, visit https://www.formfree.com or follow FormFree on LinkedIn.

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Alliances and Partnerships, Business, Free News Articles, Software

FormFree, LexisNexis Risk Solutions Expand Alliance to Provide Liens and Judgments Data

ATHENS, Ga. -- FormFree(R) today announced the impending launch of AccountChek Plus(TM), a new tool for lenders that combines the features of AccountChek(R), the nation's most trusted asset verification app, with liens and civil judgments data from LexisNexis(R) Risk Solutions. By giving lenders a more complete picture of borrower ability-to-pay before loans go to underwriting, AccountChek Plus cuts costs, reduces risk and empowers better lending decisions.

Underwriters of mortgage loans and other types of financing use liens and judgments data to assess consumers' payment history and ability to pay future debts. Historically, lenders have sourced this data from consumer credit reports furnished by the nation's top credit reporting agencies, but on July 1, Equifax, Experian and TransUnion eliminated a significant portion of all liens and judgments data from their reporting.

LexisNexis RiskView(TM) Liens & Judgments Report, available to FormFree customers as part of the new AccountChek Plus service, fills the liens and judgments data gap. The report, which is Fair Credit Reporting Act (FCRA) compliant, employs industry-leading technology and hundreds of the most current data points available to ensure more than 99 percent precision in linking debts with the correct consumer.

The liens and civil judgments data is delivered along with the award-winning AccountChek asset verification report. AccountChek by FormFree is the new standard in automated asset verification and was the first such service selected for Fannie Mae's Day 1 Certainty(TM) initiative.

Secure and simple to use, AccountChek is a digital app that eliminates the hassle of gathering documents for loans by letting consumers link their online banking, retirement and investment accounts and transmit directly to their lenders the information needed to verify loan eligibility. The result is an easier, safer and more accurate process that closes loans up to 15 days faster.

"Lenders rely on liens and judgments data to limit their risk exposure and meet investor guidelines," said FormFree CEO Brent Chandler. "We are impressed with the exceptional reliability of LexisNexis RiskView report and believe lenders will find added value in accessing liens and judgments data early in the application process and bundled with a standardized asset report."

"Our research shows that consumers with liens or judgments are twice as likely to default on a loan as those with no outstanding liens or judgments," said Tim Coyle, senior director of real estate and mortgage at LexisNexis Risk Solutions. "There is no question that lenders have a business need to fill this information gap, and we are pleased to make this data available through AccountChek Plus by FormFree."

About FormFree(R):
Leading lenders trust FormFree's automated verification solutions that streamline the loan origination process and provide better intelligence on borrowers' ability to pay. FormFree's flagship app, AccountChek(R), eliminates the hassle of collecting paper statements from borrowers by using direct-access data untouched by human hands to consolidate, analyze and verify assets. AccountChek has securely delivered automated asset verification data and on-demand reports to more than 1,000 leading U.S. lenders. A HousingWire TECH100(TM) company for four consecutive years, FormFree is based in Athens, Georgia. For more information, visit http://www.formfree.com/ or follow FormFree on LinkedIn.
About LexisNexis Risk Solutions:
At LexisNexis Risk Solutions, we believe in the power of data and advanced analytics for better risk management. With more than 40 years of expertise, we are the trusted data analytics provider for organizations seeking actionable insights to manage risks and improve results while upholding the highest standards for security and privacy. Headquartered in metro Atlanta, LexisNexis Risk Solutions serves customers in more than 100 countries and is part of RELX Group, a global provider of information and analytics for professional and business customers across industries. For more information, please visit http://www.lexisnexis.com/risk.

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Business, Free News Articles, Safety and Security Solutions

To Mitigate Identity Fraud in the Digital Mortgage Process, FormFree selects LexisNexis Risk Solutions

ATLANTA, Ga. -- FormFree Holdings Corp. (FormFree), a provider of automated verification software, today announced that it will use fraud prevention tools created by technology, data and analytics firm LexisNexis(R) Risk Solutions for asset and identity verification.

FormFree's flagship automated asset verification app AccountChek(TM) eliminates the hassle of collecting paper statements from borrowers by leveraging direct-source data to analyze and certify a borrower's financial data in minutes via a secure, web-based platform. LexisNexis(R) TrueID(R) helps organizations instantly authenticate identity documents, fight fraud and improve the customer experience. When combined, the two services will provide lenders a potent solution for verifying assets while mitigating identity fraud.

"Digital mortgages are a critical evolution for the real estate industry," said Tim Coyle, senior director, real estate and mortgage, LexisNexis Risk Solutions. "As the evolution occurs, some traditional processes are being automated to shorten the mortgage processing timeline and improve the customer experience. If not implemented prudently, new opportunities to commit fraud are also introduced. The smart way to advance the digital mortgage environment is to build more fraud controls while at the same time speeding the process."

"Every other aspect of the loan is moot if you cannot prove the authenticity of the borrower's identity and their ability to repay," said Brent Chandler, CEO and founder of FormFree. "By automating asset and identity verification, lenders can rest assured that these foundational elements have been certified beyond a reasonable doubt."

"Electronic document authentication, like TrueID, creates balance between increased transaction security and reduced customer friction," said Kimberly Sutherland, senior director, fraud management, LexisNexis Risk Solutions. "The identification document and the data found on the document allow for a much stronger identity authentication process."

About FormFree:

Leading lenders trust Athens, Georgia-based FormFree to deliver automated verification solutions that streamline the loan origination process and provide better intelligence on borrowers' ability to repay. FormFree's flagship app, AccountChek(TM), eliminates the hassle of collecting paper statements from borrowers by using direct-access data untouched by human hands to consolidate, analyze and verify assets. Lender tested and GSE approved, AccountChek securely delivers automated asset verification data and on-demand reports to more than 300 leading U.S. lenders and their millions of customers. FormFree was named one of American Banker magazine's "Top 10 Tech Companies to Watch" in 2015.

For more information, visit http://www.formfree.com or http://www.accountchek.com/.

About LexisNexis(R) Risk Solutions:

LexisNexis Risk Solutions is a leader in providing essential information that helps customers across industries and government predict, assess and manage risk. Combining cutting-edge technology, unique data and advanced analytics, LexisNexis Risk Solutions provides products and services that address evolving client needs in the risk sector while upholding the highest standards of security and privacy. LexisNexis Risk Solutions is part of RELX Group plc, a world-leading provider of information and analytics for professional and business customers across industries.

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