FormFree(R) today announced the direct integration of its AccountChek(R) automated asset verification service with the LoanSphere(R) Empower(R) loan origination system (LOS) offered by Black Knight Financial Services, a leading provider of integrated technology, data and analytics to the mortgage and real estate industries.
LoanSphere Empower enables lenders to originate both first mortgages and home equity loans and lines of credit on a single system, improving data integrity and security, significantly reducing errors and eliminating the need for duplicate entry associated with managing multiple systems. The seamless integration with AccountChek provides LoanSphere Empower users the ability to verify and share asset and deposit information with their lenders in seconds without uploading bank statements.
"One of the many ways LoanSphere Empower helps lenders remain competitive is through seamless integrations with industry leading capabilities like AccountChek," said Jerry Halbrook, president of Black Knight's Origination Technologies and Enterprise Business Intelligence divisions. "Automated asset verification through AccountChek can reduce the loan approval process by days."
AccountChek was the first asset verification provider approved for participation in Fannie Mae's Day 1 Certainty(tm) initiative, which gives lenders that use the Desktop Underwriter(R) (DU(R)) Validation Service reps and warrants relief for validated components of a loan. The AccountChek integration with LoanSphere Empower enables users to benefit from the reps and warrants relief available with this program.
AccountChek streamlines the loan underwriting process for both borrowers and lenders, resulting in quicker decisions and higher borrower satisfaction. The mobile-optimized asset verification app securely connects with virtually any financial institution to consolidate, analyze and verify assets and deposits, delivering a safe and hassle-free experience for borrowers and greater purchase certainty for lenders.
"Black Knight shares our belief that a better borrower experience can co-exist with a more efficient, accurate and profitable lending workflow," said FormFree Founder and President Brent Chandler, who addressed attendees of Black Knight's 2017 Information Exchange in Orlando on April 24. "With AccountChek, LoanSphere Empower users relieve their customers of the burden of manual document submission while benefitting from the speed and accuracy of systematized asset review and analysis."
Leading lenders trust FormFree's automated verification solutions that streamline the loan origination process and provide better intelligence on borrowers' ability to repay. 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 securely delivers automated asset verification data and on-demand reports to more than 350 leading U.S. lenders. A HousingWire TECH100(tm) company for four consecutive years, FormFree is based in Atlanta, Georgia. For more information, visit http://www.formfree.com/.
About Black Knight Financial Services, Inc.:
Black Knight Financial Services, Inc. (NYSE:BKFS) is a leading provider of integrated technology, data and analytics solutions that facilitate and automate many of the business processes across the mortgage lifecycle.
Black Knight Financial Services is committed to being a premier business partner that lenders and servicers rely on to achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class technology, services and insight with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight Financial Services, please visit http://www.bkfs.com.
New integration enables consumers to submit asset and deposit information using the mobile-friendly AccountChek app in place of account statements
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