FormFree Announces Major Integration with Easy Mortgage Apps
Partnership Enables Lenders to Verify Mortgage Applicant’s Financial Assets Through Mobile Devices
October 30, 2015 – Atlanta, GA – FormFree Holdings Corporation, the leading provider of automated asset verifications for the mortgage industry, has successfully launched the integration of its flagship product, AccountChek, with Easy Mortgage Apps.
The integration enables loan officers and underwriters to verify mortgage applicants’ financial asset data through mobile devices, allowing for a more streamlined lending process for customers.
AccountChek is a web-based platform that empowers users to order, analyze, and certify a borrower’s bank statement data electronically, rather than borrowers having to produce paper documents. By pulling data directly from the financial institution, loan officers and underwriters can verify the applicant’s deposits and assets in minutes instead of days. The result is a report that makes lending decisions easier and more secure.
By partnering with Easy Mortgage Apps, lenders will now be able to use AccountChek securely through a mobile device.
“Easy Mortgage Apps looks forward to partnering with FormFree to offer consumers a mobile-centric and more efficient way to instantly provide integral banking documentation,” said Michael Kelleher, president and founder of Easy Mortgage Apps. “The result is a streamlined lending process.”
“This relationship demonstrates our promise to offer new technologies and services designed to enhance the experience and allow our clients to effectively market to the millennial home buyer’s behaviors,” Kelleher added. “These potential home buyers require efficient, real time and on-demand access to their loan file. With seamless tracking, quick updates and real-time communication, this will be the kind of mortgage application process millennials will appreciate.”
“This partnership further illustrates our involvement in the digital evolution of lending,” Brent Chandler, FormFree’s CEO, said. “I am excited to be working with Michael and his team to deliver an entirely mobile solution for lenders to more quickly and securely verify their loan applicants’ bank statements digitally.”
“Consumers are more comfortable than ever using their mobile devices for everything from communication to conducting sophisticated transactions,” Chandler said. “This integration allows everyone to move through the loan process faster while enabling lenders to make better credit decisions.”
AccountChek, the first and only patented automated verification of assets and deposits (VODA) solution accepted by the government-sponsored enterprises (GSEs), replaces the need for borrowers to submit paper bank statements that show they have the financial resources to qualify for a mortgage. Named one of American Banker’s “Top 10 Tech Companies to Watch in 2015” and winner of the 2013 Mortgage Technology Fix-It Award, AccountChek collects data directly from virtually any financial institution and generates reports in just minutes, creating enormous time savings for both borrowers and lenders. It is used by thousands of individual loan officers, underwriters and processors at over 200 mortgage lenders, including one of the top 10.
By eliminating the need for paper bank statements, AccountChek also helps significantly reduce buyback exposure and fraud, while also providing lenders with an easy solution for complying with new “ability-to-pay” rules. The underlying technology behind AccountChek was awarded a U.S. patent in 2014 for its proprietary process of electronic certification of a borrower’s bank account data.
Leading lenders trust FormFree Holdings Corporation to deliver automated verification solutions that increase loan closing speed and drive more insight from a borrower’s financial information. FormFree was named one of American Banker’s Top 10 Tech Companies to watch in 2015. Its flagship product, AccountChek™, is the only patented solution delivering automated asset verification data and reports. The AccountChek™ solution consolidates, analyzes, and verifies assets directly from their source. It then applies thousands of proprietary algorithms to generate asset reports on demand. AccountChek is the only patented third-party asset verification acceptable to the GSEs and leading investors. More than 200 leading lenders offer AccountChek to their millions of customers in the United States. FormFree is headquartered in Atlanta, Georgia. For more information, visit www.FormFree.com.
About Easy Mortgage Apps
Salem, Massachusetts-based Easy Mortgage Apps is the creator of a cutting-edge mobile app designed to make the home buying process easy and stress-free for all parties involved. Easy Mortgage Apps enables loan officers to effectively serve consumers and real estate agents through private-label software and secure solutions. In an all-encompassing ecosystem, loan officers, borrowers and real estate agents can track application status, communicate with all relevant parties and share time-sensitive data from a mobile device, quickly and securely. For more information, visit EasyMortgageApps.com.