ATLANTA, Ga. — FormFree Holdings Corp. (FormFree), a provider of automated verification software, announced that Addison, Texas-based Mid America Mortgage has chosen AccountChek(TM) to conduct automated reviews of borrowers’ asset accounts as part of its push towards executing a complete eMortgage.
AccountChek is a web-based platform that enables users to order, analyze and certify a borrower’s financial statement data electronically, eliminating the need for borrowers to collect, copy and submit paper documents. Automated asset verification streamlines the mortgage underwriting process for both borrowers and lenders, resulting in quicker decisions and higher borrower satisfaction.
“At Mid America, we believe the eMortgage is the future of the mortgage industry and have been pursuing an aggressive eMortgage strategy for several months,” said Jeff Bode, owner and CEO at Mid America Mortgage. “Automating the asset verification portion of our underwriting process using AccountChek enables us to further digitize and streamline our operations without sacrificing loan quality.”
“The mortgage industry is experiencing an unprecedented period of digital transformation,” said Brent Chandler, CEO and founder of FormFree. “As lenders begin to embrace the reality of a fully digital mortgage transaction, data verification becomes a critical function. AccountChek provides lenders with an added level of security that the data underlying a borrower’s ability to repay is valid and unaltered.”
About FormFree:
Leading lenders trust FormFree Holdings Corp. to deliver automated verification solutions that increase loan closing speed and draw more insight from a borrower’s financial information. FormFree was named one of American Banker magazine’s “Top 10 Tech Companies to Watch” in 2015.
Its flagship product, AccountChek(TM), is the only patented third-party asset verification solution approved by GSEs and leading investors to deliver automated asset verification data and reports. The AccountChek solution consolidates, analyzes and verifies assets directly from their source, then applies thousands of proprietary algorithms to generate asset reports on demand. 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 http://www.formfree.com/.
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