ATHENS, Ga., Nov. 6, 2017 (SEND2PRESS NEWSWIRE) — FormFree® today announced it has entered a partnership with SimpleNexus, a leader in bringing the home mortgage process to mobile devices. The integration of the two companies’ technologies will make FormFree’s AccountChek® automated verification service for asset, employment and income a seamless part of the loan application experience for borrowers applying for a loan using SimpleNexus’ mobile technology.
“Teaming up with SimpleNexus lets us put AccountChek into the hands of borrowers earlier in the loan application. Whether the borrower or the loan officer initiates the verification of assets, employment and income, FormFree makes this new approach to sharing information feel natural and effortless,” said FormFree Founder and CEO Brent Chandler.
FormFree was the first asset verification provider approved for participation in Fannie Mae’s Day 1 Certainty™ initiative, which gives lenders who use the Desktop Underwriter® (DU®) Validation Service reps and warrants relief for validated loan components while delivering a faster and simplified borrower experience. FormFree is also a key participant in Fannie Mae’s ongoing Single Source Validation pilot, which could allow mortgage lenders to validate borrower income, asset and employment data through a single report as early as 2018.
“With this integration, borrowers can easily validate their assets, employment and income from within the same secure, familiar mobile environment they’ll use for the entire loan process,” said SimpleNexus CEO Matt Hansen. “For mortgage lenders, the value is twofold: we’re bringing FormFree’s best-in-class asset verification into a branded location their borrowers trust, and we’re making it easier for lenders to tap into the many benefits of Fannie Mae’s Day 1 Certainty initiative.”
SimpleNexus provides private-label mobile apps that connect mortgage lenders with borrowers and real estate agents, allowing all parties to easily exchange data and documents throughout the lifecycle of a mortgage loan.
About FormFree®:
FormFree is a fintech company whose market-leading AccountChek®, reports are used by hundreds of lenders nationwide to verify borrower assets, employment and income in minutes. With FormFree, lenders can delight customers with a paperless experience and reduce origination timelines by up to 20 days. FormFree offers automated analysis and standardized delivery to lenders and their investors using a secure ReIssueKey™. To date, AccountChek has securely placed more than one million asset reports for over 1,000 U.S. lenders. A HousingWire TECH100™ company for four consecutive years, FormFree is based in Athens, Georgia. For more information, visit https://formfree.com or follow FormFree on LinkedIn.
About SimpleNexus:
SimpleNexus is a leading provider of fully customized mobile solutions that bridge the gap between mortgage loan originators, real estate professionals and borrowers. SimpleNexus is the only mobile technology provider in the industry to incorporate a SOC-2 compliant mobile scanner for secure, paperless document sharing and provides its state-of-the-art mobile technology to a wide array of mortgage corporations and branches as well as individual loan officers. Today, SimpleNexus serves more than 150 enterprise mortgage companies and more than 12,000 loan officers nationwide. To learn more, visit https://simplenexus.com/.
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News Source: FormFree
