(ATHENS, Ga.) — NEWS: 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.”
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.
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/
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