Author Archives: FormFree

FormFree announces enhancements to customer acquisition marketplace, FormFree Exchange

ATHENS, Ga., Oct. 25, 2024 (SEND2PRESS NEWSWIRE) — FormFree®, a leader in financial technology since 2007, today announced several enhancements to its customer acquisition marketplace, FormFree Exchange (FFX). Topping the list of enhancements is the auto-matching capability, connecting borrowers and lenders in seconds.

Image caption: FormFree.

FFX is the world’s first marketplace that obsesses about consumers and helps lenders and borrowers find the right match. By delivering a 1-to-1 connection and ensuring that consumers have complete control of their data, FFX is compliant with both TCPA and Rule 1033.

Using FormFree’s Passport, consumers can share all the core financial data required by loan underwriters — including identity, assets, income, employment, credit history and cash-flow data — in seconds, which generates a financial identity report and includes a Residual Income Knowledge Index (RIKI). Passport also gives consumers a qualified borrowing power, which provides a realistic estimate of how much they can afford to borrow and repay. In addition to functioning as a stand-alone web application, Passport lives in consumer-facing real estate sites like Realtor.com, resulting in high-intent leads flooding into FFX.

Lenders in FFX have pre-populated buy boxes with their loan parameters and are automatically and immediately matched with borrowers who fit their buy boxes. Borrowers are shown up to three lender options and choose the one that best fits their needs, ensuring compatibility and increasing application-to-close rates for lenders. The borrower’s personal identifying information stays anonymous during the matching process to remove any possible bias and ensure the lending decision is made solely on the financial identity report.

“FormFree has set out to enhance the lending experience for lenders and borrowers by making it easier for each to find the right fit,” stated FormFree Founder and CEO Brent Chandler. “As the TCPA 1-to-1 consent rule goes into effect in a couple of months, lenders will need to adjust their customer acquisition efforts. FFX is already in place, ensuring lenders don’t have to experience a drop in production as they adapt to new regulations.”

“I grew up in an underserved neighborhood, and FormFree’s mission of uplifting the underserved and unseen borrowers through Passport, RIKI and FFX resonated heavily with me,” said MOR Lending President Roy K. George, CMB. “In today’s market, there is also a significant credit-invisible population that can repay a loan, and I see FFX as a way to serve those individuals. Our experience with FFX has been very good; we’ve seen a 10-20% lead-to-application rate over the last couple of months. RIKI is a great tool for us because when we see a bank statement verified deal, we know there’s a greater potential for conversion.”

About FormFree®

FormFree empowers consumers to understand their ability to pay and share it with lenders like never before. Using FormFree’s Passport app, consumers can share all the core financial data required by loan underwriters — including identity, assets, income, employment, credit history and cash-flow data — in seconds. Once consumers are ready to transact, they can anonymously share their data on the FormFree Exchange (FFX) and receive immediate offers from a marketplace of lenders who fully understand their ability to pay, residual income and eligibility for down payment assistance and inclusive lending programs.

For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

Tags: @RealFormFree #lending #fintech #financialservices #financialinclusion #homebuyers

NEWS SOURCE: FormFree

This press release was issued on behalf of the news source (FormFree), who is solely responsible for its accuracy, by Send2Press Newswire. Image, if any, was provided by the news source and not this website or the wire service. Information is believed accurate, as provided by the news source, but is not guaranteed.

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FormFree named TAG ADVANCE Award Winner

ATHENS, Ga. /ScoopCloud/ -- FormFree®, a leader in financial technology since 2007, has been named a 2024 ADVANCE Award winner by The Technology Association of Georgia (TAG). Part of the Fintech South conference, the ADVANCE Awards program recognizes innovative U.S. fintech companies with a strong connection to Georgia.

This marks the first ADVANCE Award win for FormFree, which is based in Athens, Ga. FormFree was recognized for its innovative new solution, Residual Income Knowledge Index (RIKI).

FormFree is transforming how consumers and their lenders understand their ability to pay with its RIKI. When paired with traditional credit scoring models, RIKI offers lenders a more complete understanding of consumers' creditworthiness and creates homeownership opportunities for those with little to no credit history.

"The ADVANCE Awards is the only program recognizing established companies that develop technology to improve our lives or create greater efficiencies through better fintech," said Scott Mills, president of William Mills Agency, and co-chair of the awards program. "We received incredible responses from applicants for this year, and the judges had a daunting task reviewing the nominations to select our 2024 finalists."

RIKI is one component of FormFree's Passport app, which provides a holistic picture of a consumer's ability to pay (ATP®️). With Passport's instant, direct-source, consumer-permissioned data insights, financial institutions can identify qualified borrowers from the first sign of intent.

"It's an honor to be recognized as one of the top fintech firms in Georgia," said FormFree Founder and CEO Brent Chandler. "Since the beginning, FormFree has strived to be a beacon of innovation and our flagship products, Passport and RIKI are certainly leading the way in lending technology."

To learn more about the ADVANCE Awards and see the full list of award finalists and winners, please visit www.fintechsouth.com.

About FormFree®

FormFree empowers consumers to understand their ability to pay and share it with lenders like never before. Using FormFree's Passport app, consumers can share all the core financial data required by loan underwriters - including identity, assets, income, employment, credit history and cash-flow data - in seconds. Once consumers are ready to transact, they can anonymously share their data on the FormFree Exchange (FFX) and receive immediate offers from a marketplace of lenders who fully understand their ability to pay, residual income and eligibility for down payment assistance and inclusive lending programs.

For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

FormFree®, a leader in financial technology since 2007, has been named a 2024 ADVANCE Award winner by The Technology Association of Georgia (TAG). Part of the Fintech South conference, the ADVANCE Awards program recognizes innovative U.S. fintech companies with a strong connection to Georgia.

Related link: https://www.formfree.com/

FormFree upgrades Passport Wallet with simpler UI, VantageScore integration and streamlined asset validation

ATHENS, Ga. /ScoopCloud/ -- FormFree®, a leader in financial technology since 2007, today announced significant enhancements to Passport Wallet®, an innovative app that transforms how everyday people access loans. Available now in the Apple App Store and Google Play, the latest version of Passport Wallet is designed to make it easier than ever for consumers to understand their ability to pay and match with lenders.

Enhancements introduced since Passport Wallet's initial launch in January 2024 underscore FormFree's commitment to financial empowerment and inclusivity.

These include:

* Streamlined User Interface:
FormFree has listened to user feedback and responded by streamlining the borrower UI within the Passport Wallet app. More than 10 screens have been removed, resulting in a smoother and more efficient user journey. This enhancement is expected to increase the completion rate by consumers, reducing instances of app abandonment and ensuring a higher generation of Qualified Borrower Medallions. By making Passport Wallet more user-friendly, FormFree aims to facilitate stronger connections between consumers and financial institutions.

* Upgrade to VantageScore:
In a strategic move to enhance credit accessibility, FormFree has integrated VantageScore as the primary credit model within Passport Wallet, replacing the app's previous reliance on FICO. VantageScore, a proven alternative credit model that has been gaining market share since 2006, offers distinct advantages over traditional models, including more consistent scoring and the ability to score an additional 33 million consumers. This upgrade particularly benefits demographics such as "young to credit" borrowers, dormant consumers and those with no credit accounts, ensuring a more inclusive approach to credit assessment.

* Universal Connect Widget for Improved Asset Validation:
FormFree is revolutionizing asset validation within Passport Wallet with the introduction of a universal connect widget. This widget allows seamless connections to consumers' financial institutions through various data aggregators, including MX, Sophtron, and others. By expanding the sources for asset validation, FormFree enhances the accuracy and success rate of cash-flow analysis, providing a more comprehensive understanding of the consumer's borrowing capacity.

"At FormFree, we believe in a financial system that serves everyone. By listening to our users and continuously improving, we're creating a more inclusive and transparent financial future," said FormFree Founder and CEO Brent Chandler. "Passport Wallet is changing the way high-intent consumers who are ready for a mortgage loan find the perfect-match lender who's motivated to finance them."

Explore the enhanced features of Passport Wallet and discover your borrowing power today.

About FormFree®

FormFree empowers consumers to understand their ability to pay and share it with lenders like never before. Using FormFree's Passport Wallet® app, consumers can share all the core financial data required by loan underwriters - including identity, assets, income, employment, credit history and cash-flow data - in seconds. Once consumers are ready to transact, they can anonymously share their data on the FormFree Exchange (FFX) and receive immediate offers from a marketplace of lenders who fully understand their ability to pay, residual income and eligibility for down payment assistance and inclusive lending programs. For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

FormFree®, a leader in financial technology since 2007, today announced significant enhancements to Passport Wallet®, an innovative app that transforms how everyday people access loans. Available now in the Apple App Store and Google Play, the latest version of Passport Wallet is designed to make it easier than ever for consumers to understand their ability to pay and match with lenders.

Related link: https://www.formfree.com/

FormFree celebrates its 10th appearance on the HousingWire Tech100

ATHENS, Ga. /ScoopCloud/ -- FormFree® today announced it has been honored as a HousingWire Tech100 Mortgage award winner for a tenth year. The fintech was recognized for the launch of its Residual Knowledge Income Index(tm) (RIKI(tm)), an innovative method for measuring consumers' ability to pay for mortgages and other loans based on cash-flow analysis.

RIKI offers lenders a more complete understanding of a loan applicant's borrowing capacity than traditional credit scores alone, making it possible for lenders to evaluate default risk and extend financing to homebuyers with little to no credit history. By downloading FormFree's Passport Wallet® app, consumers can view their real-time ability to pay, including their RIKI, and connect with home, auto and personal lenders on FormFree Exchange (FFX®), a marketplace that connects lenders with the high-intent, financially vetted borrowers who need them.

"While traditional credit scoring is a valuable resource, we want to ensure lenders have every scrap of data they need to make the right call on any given loan application," said FormFree Founder and CEO Brent Chandler. "By supplementing credit history with granular detail around a borrower's monthly income and expenditures, we empower lenders to provide financing to underserved markets while managing risk. It's an honor to have our efforts recognized as a part of the HousingWire Tech100."

"The technology capabilities and solutions that this year's Tech100 winning organizations have developed are an absolute testament to the relentless innovation within the real estate and mortgage technology landscape," HW Media Editor-in-Chief Sarah Wheeler said. "These past few years have been transformative for the industry, and these honorees are continuing to bring long-awaited solutions to the challenges that mortgage and real estate professionals have struggled with for decades. Congratulations to all the deserving winners for their outstanding contributions to our ever-evolving industry."

Now in its 12th year, HousingWire's Tech100 program recognizes tmpactful and innovative organizations whose technology solutions are driving efficiency, transparency and accessibility across the housing industry. Learn more about the HousingWire Tech100 and view FormFree's full company profile here: https://www.housingwire.com/company-profile/formfree-4/

About FormFree®

FormFree empowers consumers to understand their ability to pay and share it with lenders like never before. Using FormFree's Passport Wallet® app, consumers can share all the core financial data required by loan underwriters - including identity, assets, income, employment, credit history and cash-flow data - in seconds. Once consumers are ready to transact, they can anonymously share their data on the FormFree Exchange (FFX) and receive immediate offers from a marketplace of lenders who fully understand their ability to pay, residual income and eligibility for down payment assistance and inclusive lending programs. For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

FormFree® today announced it has been honored as a HousingWire Tech100 Mortgage award winner for a tenth year. The fintech was recognized for the launch of its Residual Knowledge Income Index(tm) (RIKI(tm)), an innovative method for measuring consumers' ability to pay for mortgages and other loans based on cash-flow analysis.

Related link: https://www.formfree.com/

FormFree president Eric Lapin to speak on artificial intelligence at MISMO Winter Summit

ATHENS, Ga. /ScoopCloud/ -- FormFree® today announced its President Eric Lapin has been selected to speak at the MISMO Winter Summit taking place January 8-11, 2024, at The Woodlands Resort just outside of Houston, Texas. Lapin will speak on a panel titled "Demystifying Artificial Intelligence, Digital Identity and Blockchain" during a brown-bag lunch session on January 9 from 12:30 pm-1:25 pm CT. He will be joined by fellow panelists Devin Caster, principal, product solutions at CoreLogic; Rishi Godse, principal technical architect at USAA; and Shawn Jobe, vice president and head of business development at Informative Research.

A mortgage industry veteran of more than 25 years, Lapin's experience at FormFree and past leadership roles at Old Republic (NYSE: ORI), Black Knight (NYSE: BKI), Credit Suisse (NYSE: CS) and Provident Bank (acquired by PNC) have made him an in-demand speaker on AI, blockchain and other innovative topics related to housing finance technology. His past speaking engagements include the Conference of State Bank Supervisors' Regulatory Summit, the Government Blockchain Association's Blockchain and Infrastructure Conference, Experience FinXTech and NAHREP's TechCon.

"Lenders that want to maintain their innovative edge in 2024 and beyond need to keep pace with the fast-evolving field of artificial intelligence and understand the risks and opportunities it presents to originators, investors and consumers," said Lapin. "By bringing this essential content to its Winter Summit, MISMO is helping mortgage finance leaders prepare for a fundamental shift in the way we do business."

The Mortgage Industry Standards Maintenance Organization (MISMO®) is a not-for-profit, wholly owned subsidiary of the Mortgage Bankers Association responsible for developing standards for exchanging information and conducting business in the U.S. mortgage finance industry. Its three annual summits (Winter, Summer and Fall) facilitate networking and collaboration among industry colleagues while providing opportunities to learn the latest mortgage industry updates.

To register for MISMO's Winter Summit, visit https://www.mismo.org/events-education/mismo-summit-.

About FormFree®:

FormFree empowers consumers to understand their ability to pay and share it with lenders like never before. Using FormFree's Passport® app, consumers can verify all the core financial data required by loan underwriters - including identity, assets, income, employment credit history and cash-flow data - in seconds. Once consumers are ready to transact, they can anonymously share their verified data on the FormFree Exchange (FFX) and receive immediate offers from a marketplace of lenders who fully understand their ability to pay, residual income and eligibility for down payment assistance and inclusive lending programs. For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

FormFree® today announced its President Eric Lapin has been selected to speak at the MISMO Winter Summit taking place January 8-11, 2024, at The Woodlands Resort just outside of Houston, Texas. Lapin will speak on a panel titled "Demystifying Artificial Intelligence, Digital Identity and Blockchain" during a brown-bag lunch session on January 9 from 12:30 pm-1:25 pm CT. He will be joined by fellow panelists Devin Caster, principal, product solutions at CoreLogic; Rishi Godse, principal technical architect at USAA; and Shawn Jobe, vice president and head of business development at Informative Research.

Related link: https://www.formfree.com/

FormFree appoints Solvent CEO DIVINE as head of culture

ATHENS, Ga. /ScoopCloud/ -- FormFree® today announced the appointment of former hip-hop/rap recording artist-turned-techpreneur Victor D. Lombard, professionally known as DIVINE, as head of culture.

DIVINE is the CEO and founder of Solvent, a fintech focused on financial empowerment for marginalized groups. Solvent broke ground in 2022 when it was accepted as part of the inaugural cohort of Amazon's AWS Impact Accelerator for Black Founders, an eight-week program designed to help high-potential, pre-seed startups led by under-represented founders.

Additionally in 2022, Solvent was accepted into Village Capital's Innovations in Justice Tech, a fellowship program in collaboration with AmFam Institute and Dream.org that supports entrepreneurs building innovations to improve the lives of individuals and communities impacted by the justice system.

DIVINE grew up in Fort Greene, Brooklyn, and endured childhood poverty and incarceration at age 19. Realizing his potential was boundless but his options were limited, following his release DIVINE took a leap of faith and asked Ben Horowitz, general partner and co-founder of venture capital firm Andreessen Horowitz, to mentor him. Horowitz, who grew up a hip-hop/rap fan in Berkeley, California, agreed. The mentorship proved a turning point for DIVINE, and his transformation from system-impacted youth to tech-founder has been featured in Forbes, TechCrunch, Black Enterprise, Entrepreneur and Inc.

"We are extremely pleased that DIVINE has joined us and feel he is uniquely qualified to convey our message of financial parity for unserved and underserved communities," said FormFree CEO and founder Brent Chandler. "DIVINE will be on the front lines of FormFree's engagement of unserved and underserved communities he connects with in ways that are authentic and impactful."

DIVINE joined Chandler and Kevin Harrington of ABC's Shark Tank fame at the Mortgage Bankers Association's 2023 Convention & Expo in support of FormFree's launch of Passport and the FormFree Exchange (FFX). Following a discussion of the opportunities lenders have to meet a diverse array of homebuyers with a consumer-centric experience, DIVINE closed out the session with a performance of his song H.O.P.E. (Helping Oppressed People Elevate).

As head of culture at FormFree, DIVINE will use his new platform and hip-hop/rap talent to reach out to unserved and underserved urban renters with messages of financial empowerment and hope. Further, DIVINE will work closely with Harrington in a collaborative partnership with FormFree to bring awareness and empowerment to this audience.

"Hip-hop/rap culture and music in particular is a universal and global language," said DIVINE. "What better way than using it to help build awareness of the benefits of homeownership and provide a technology bridge so people will be able to take control of their financial futures."

"Technologies like Passport and the FormFree Exchange can change everything for minority homebuyers, getting rid of the disregard on one side and distrust on the other. It takes all the judgment away. Borrowers can raise their profile with lenders, and lenders know they're creditworthy and compete for their business, so it's a win-win for buyers and lenders," added DIVINE. "With Solvent and FormFree's shared mission and vision, there's a perfect alignment, and I'm really proud to be part of this unique partnership to bring about transformation."

About FormFree®:

FormFree empowers consumers to understand their ability to pay and share it with lenders like never before. Using FormFree's Passport® app, consumers can verify all the core financial data required by loan underwriters - including identity, assets, income, employment credit history and cash-flow data - in seconds. Once consumers are ready to transact, they can anonymously share their verified data on the FormFree Exchange (FFX) and receive immediate offers from a marketplace of lenders who fully understand their ability to pay, residual income and eligibility for down payment assistance and inclusive lending programs. For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

FormFree® today announced the appointment of former hip-hop/rap recording artist-turned-techpreneur Victor D. Lombard, professionally known as DIVINE, as head of culture. DIVINE is the CEO and founder of Solvent, a fintech focused on financial empowerment for marginalized groups.

Related link: https://www.formfree.com/

FormFree welcomes MX Founder and Executive Chair Ryan Caldwell to its board of directors

ATHENS, Ga. /ScoopCloud/ -- FormFree® today announced the appointment of MX Technologies, Inc. (MX) Founder and Executive Chair Ryan Caldwell to its board of directors. Caldwell brings more than 20 years of experience in financial services and fintech, helping organizations around the world harness the power of financial data to improve business and consumer outcomes.

"Few people bring the passion and vision to a challenge like Ryan Caldwell. He is a strong advocate for creating an open finance ecosystem that offers improved financial outcomes for consumers and the businesses that serve them, which aligns with our own philosophy," said FormFree founder and CEO Brent Chandler. "We're honored to have Ryan join our board of directors as we decentralize consumer financial data and democratize access to credit."

Caldwell founded MX as a mission-driven organization focused on empowering the world to be financially strong. Prior to founding MX, Caldwell built and successfully exited multiple technology startups and performed consulting work in the United States, Singapore and London for large corporations, including Visa and Microsoft.

"I am excited to continue my work with FormFree, now as a board member," said Ryan Caldwell, founder and executive chair, MX. "We share a vision to improve consumer and business outcomes by helping businesses to reliably connect and verify financial data, gain customer intelligence and deliver personalized money experiences to improve customer engagement and retention."

Caldwell and Chandler share parallel philosophies ranging from a conviction to help empower financial strength and freedom to honoring and protecting our service members and precious freedoms. Caldwell completed the majority of undergraduate hours at the United States Air Force Academy and transferred to the Marriot School of Management at BYU to finish his degree in Business Management with an emphasis in Information Systems.

About FormFree®:

FormFree empowers consumers to understand their ability to pay and share it with lenders like never before. Using FormFree's Passport® app, consumers can verify all the core financial data required by loan underwriters - including identity, assets, income, employment credit history and cash-flow data - in seconds. Once consumers are ready to transact, they can anonymously share their verified data on the FormFree Exchange (FFX) and receive immediate offers from a marketplace of lenders who fully understand their ability to pay, residual income and eligibility for down payment assistance and inclusive lending programs.

For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

X/Twitter: @RealFormFree #mortgage #mortgageindustry #fintech #digitalmortgage @mX

FormFree® today announced the appointment of MX Technologies, Inc. (MX) Founder and Executive Chair Ryan Caldwell to its board of directors. Caldwell brings more than 20 years of experience in financial services and fintech, helping organizations around the world harness the power of financial data to improve business and consumer outcomes.

Related link: https://www.formfree.com/

Jenny Moss joins fintech FormFree as director of marketing

ATHENS, Ga. /ScoopCloud/ -- FormFree® today announced the appointment of Jenny Moss as its new director of marketing. The timing of the move comes just as the company is launching its Passport® portable financial ID on October 20 and the FormFree Exchange (FFX), an online marketplace where lenders compete for the business of Passport users, later this year.

"We are delighted to have Jenny join our team and build on the great work we've started in introducing our new product directions," said FormFree Founder and CEO Brent Chandler. "This is a pivotal time for our company and an exciting time to be in fintech. Jenny has the energy and mindset to help us move forward strategically as we launch our portable financial Passport for consumers and our Exchange that connects lenders with qualified borrowers."

Moss graduated in 2013 from the University of Georgia with a master of science degree in sport management and policy. She worked two years for the University of Georgia Athletic Association in sports communication before moving in July 2013 to the University of Florida Athletic Association. In August 2014 she joined Mercer University as its assistant director of media relations, serving as the primary point of contact for all public relations initiatives for several men's and women's sports teams.

In May 2017, she moved to Silverton Mortgage in the greater Atlanta area, where she worked as a marketing and communications specialist before joining Atlanta-based Depth PR in November 2018. Moss initially worked as a client services manager at Depth, working her way up into a director's role at the firm. She worked at Depth for a total of five years before moving to FormFree.

"We will certainly miss Jenny. But we're looking forward to seeing her often, just this time she'll be sitting at the client end of the table," said Kerri Milam, president and principal strategist at Depth. "We think this is a strong career move for Jenny - and we know she's joining a great team with lots of 'depth'."

"The launch of Passport and the FormFree Exchange marks an exciting new chapter in fintech," said Moss. "I'm thrilled to be joining FormFree at such a pivotal moment in the company's journey and eager to help execute the team's vision for shaping the future of lending."

About FormFree®:

FormFree empowers consumers to understand their ability to pay and share it with lenders like never before. Using FormFree's Passport® app, consumers can verify all the core financial data required by loan underwriters - including identity, assets, income, employment credit history and cash-flow data - in seconds. Once consumers are ready to transact, they can anonymously share their verified data on the FormFree Exchange (FFX) and receive immediate offers from a marketplace of lenders who fully understand their ability to pay, residual income and eligibility for down payment assistance and inclusive lending programs.

For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

For media queries, contact Depth: https://depthpr.com/contact-us/

FormFree® today announced the appointment of Jenny Moss as its new director of marketing. The timing of the move comes just as the company is launching its Passport® portable financial ID on October 20 and the FormFree Exchange (FFX), an online marketplace where lenders compete for the business of Passport users, later this year.

Related link: https://www.formfree.com/

MEDIA ADVISORY: Original ‘Shark Tank’ shark comes to MBA Annual

PHILADELPHIA, Pa. /ScoopCloud/ -- Kevin Harrington of "Shark Tank" fame will host a meet-and-greet with attending mortgage professionals and trade press before taking the stage during the Mortgage Bankers Association (MBA) Annual Convention & Expo to introduce Passport®, FormFree's portable financial ID for consumers launching October 20, and the FormFree Exchange (FFX®), the online marketplace where lenders compete for the business of Passport users.

WHO:

* Kevin Harrington, original "Shark Tank" shark and entrepreneur

* Brent Chandler, founder and CEO, FormFree

WHAT:

* Passport is a free service that makes it easy for consumers to quantify their borrowing power and share their verified assets, employment, annual and residual income and rent payment history with their preferred lender in just minutes from any web-enabled device.

* FFX is the online marketplace where lenders compete for the business of Passport users.

WHEN:

* Monday, October 16, during the Mortgage Bankers Association Annual Convention & Expo.

* Meet-and-greet: 2:30-4 p.m. ET at THE HUB booth #713

* Presentation: 4-5 p.m. ET on THE HUB stage

WHERE:

Philadelphia Convention Center

1101 Arch Street, Philadelphia, PA 19107

THE HUB Expo Hall (200 level, Exhibit Hall E)

HOW:

Those not already registered for the MBA Annual Convention & Expo can view registration details here: https://www.mba.org/conferences-and-education/annual-convention-expo.

* To request press credentials, contact:

Falen Taylor, Director of Public Affairs

Mortgage Bankers Association

ftaylor@mba.org

(202) 557-2771

* To request a remote interview (subject to availability), contact:

Leslie W. Colley

Depth for FormFree

leslie@depthpr.com

(678) 622-6229

About FormFree®:

FormFree empowers consumers to understand their ability to pay and share it with lenders like never before. Using FormFree's Passport® app, consumers can verify all the core financial data required by loan underwriters - including identity, assets, income, employment credit history, and cash-flow data - in seconds. Once consumers are ready to transact, they can anonymously share their verified data on the FormFree Exchange (FFX) and receive immediate offers from a marketplace of lenders who fully understand their ability to pay, residual income and eligibility for down payment assistance and inclusive lending programs.

For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

About Kevin Harrington:

Harrington is world renowned as the inventor of the infomercial, pioneer of the "As Seen on TV" brand and one of the original "sharks" on the hit ABC show "Shark Tank." He has launched more than 20 businesses that have each grown sales in excess of $100 million as part of a career that has introduced 1,000+ products generating over $6 billion in global sales. His business experience spans the globe, including opening distribution outlets in over 100 countries. For more information, visit https://kevinharrington.tv.

Kevin Harrington of "Shark Tank" fame will host a meet-and-greet with attending mortgage professionals and trade press before taking the stage during the Mortgage Bankers Association (MBA) Annual Convention & Expo to introduce Passport®, FormFree's portable financial ID for consumers launching October 20, and the FormFree Exchange (FFX®), the online marketplace where lenders compete for the business of Passport users.

Related link: https://www.formfree.com/

FormFree announces first-of-a-kind exchange to connect lenders with qualified borrowers

ATHENS, Ga. /ScoopCloud/ -- FormFree today announced the fourth quarter debut of FormFree Exchange (FFX®), a dynamic online marketplace that matches lenders with qualified borrowers for a faster, better and fairer lending experience.

FFX has been meticulously designed to address the challenges facing lenders and borrowers in the modern financial landscape. With interest rates and home prices driving down loan application numbers and the prohibitive costs of lead generation eroding lender profitability, FFX offers a solution that reshapes lending as we know it.

"FormFree Exchange is where lenders meet qualified borrowers," said Brent Chandler, founder and CEO of FormFree. "Our platform represents the future of lending, providing a transparent and efficient way for home, auto and consumer lenders to connect with high-intent borrowers. It's not just about making loans; it's about making lending accessible and profitable for all."

How FFX Works:

FFX eliminates the need for lenders to sift through unqualified or unready leads by providing verified financial data from borrowers who have already demonstrated that they are ready and willing to transact using FormFree's free Passport® service. Lenders receive this data in the form of an anonymous Qualified Borrower (QB) Medallion that empowers them to make competitive loan offers while protecting borrowers' identities until an offer is extended and accepted.

Attributes provided in a QB Medallion include:

* Intent: Understanding the borrower's financial goals and requested loan type and amount

* Assets: Detailed account balances and transaction history

* Income: Validation of typical monthly income and income stability

* Employment: Verification of employment details and payment frequency

* ATP Analytics: In-depth ability-to-pay insights, including cash-flow index, Residual Income Knowledge Index® (RIKI)®, credit score and rent payment history

* CRA & DPA Eligibility: Identification of borrowers eligible for down payment assistance and programs for low-to-moderate income and minority consumers

A More Inclusive Approach

Outdated underwriting standards exclude millions of lendable consumers who have low FICO scores or nontraditional income but can sustainably support a mortgage. By providing a holistic view of each borrower's finances, FFX allows lenders to help more consumers access the loans they need without taking on additional risk.

"Guild Mortgage is proud to be among the ten inaugural FormFree Exchange members who have signed up to be matched with motivated and creditworthy borrowers, many of whom would be weeded out and excluded from financing by traditional lead acquisition routes," said David Battany. "We welcome this transparent model and feel confident in our ability to compete for the business of borrowers that are a good match for Guild."

Lenders are encouraged to join leading institutions like AmeriSave, Developer's Mortgage, Guaranteed Rate, Guild Mortgage, Highland Mortgage, Kind Lending, Paramount Residential Mortgage Group (PRMG), Sage Mortgage, Synergy One Lending and Ready Life in joining the FormFree Exchange.

Sign up today and be part of a transformative marketplace that drives profitability and inclusivity: https://ffx.formfree.com/

About FormFree®:

FormFree empowers consumers to understand their ability to pay and share it with lenders like never before. Using FormFree's Passport® app, consumers can verify all the core financial data required by loan underwriters - including identity, assets, income, employment credit history and cash-flow data - in seconds. Once consumers are ready to transact, they can anonymously share their verified data on the FormFree Exchange (FFX) and receive immediate offers from a marketplace of lenders who fully understand their ability to pay, residual income and eligibility for down payment assistance and inclusive lending programs. For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

FormFree today announced the fourth quarter debut of FormFree Exchange (FFX®), a dynamic online marketplace that matches lenders with qualified borrowers for a faster, better and fairer lending experience. FFX has been meticulously designed to address the challenges facing lenders and borrowers in the modern financial landscape.

Related link: https://www.formfree.com/

FormFree partners with original ‘Shark’ and iconic entrepreneur Kevin Harrington to launch Passport portable financial ID

ATHENS, Ga. /ScoopCloud/ -- FormFree® has partnered with serial entrepreneur Kevin Harrington of "Shark Tank" fame to promote Passport®, a free service that makes it easy for consumers to quantify their borrowing power and share their verified assets, employment, annual and residual income and rent payment history with their preferred lender in just minutes from any web-enabled device.

Passport's comprehensive and streamlined approach to verifying borrowers' ability to pay significantly lowers lenders' operational costs, reduces fraud risk and speeds loans along - all while putting borrowers in control of their data and opening up financial inclusivity to the historically underserved.

Harrington's team will support FormFree's October 20 launch of Passport with advisory and marketing services, including the engagement of financial advisors, real estate agents and social media influencers in sharing the service with consumers who are ready to use their credit to achieve financial goals such as consolidating debts or financing the purchase of an automobile or home.

Brent Chandler, founder and CEO of FormFree, pioneered digital asset verification with the 2009 launch of AccountChek®, a service that was used by more than 3,500 mortgage lenders to verify more than $4 trillion in borrower assets before its strategic divestiture to Stewart Information Services Corporation (NYSE: STC) subsidiary Informative Research in March 2023. With the consumer debut of Passport, Chandler aims to transform the lending industry once again with technology that leapfrogs current financing barriers.

"Kevin [Harrington] is a masterful communicator. Together we're reshaping credit access with Passport by giving consumers direct control over their data for the first time," said Chandler. "As we initiate this transformative shift in lending, our focus on low income and minority buyers is unwavering. They are at the heart of this change and stand to reap significant benefits."

"Having to gather and provide dozens of documents just to understand their own borrowing capacity deters countless consumers from applying for financing - and it's a hurdle they have to clear again and again if they want to apply with several lenders and compare offers," added Harrington. "Passport makes it practical for consumers to share their always up-to-date financial data with a marketplace of lenders all at once and consider multiple, competitive offers."

Chandler and Harrington will appear together at the Mortgage Bankers Association Annual Convention and Expo in Philadelphia next week to introduce Passport to mortgage industry participants and preview the FormFree Exchange (FFX), the online marketplace where lenders compete for the business of Passport users.

"This idea is something we've been working on for a while now," said Chandler. "There is already a lot of excitement about how FFX would speed and simplify customer acquisition and help buyers get the best financial products for their needs."

About FormFree®:

FormFree empowers consumers to understand their ability to pay and share it with lenders like never before. Using FormFree's Passport® app, consumers can verify all the core financial data required by loan underwriters - including identity, assets, income, employment credit history and cash-flow data - in seconds. Once consumers are ready to transact, they can anonymously share their verified data on the FormFree Exchange (FFX) and receive immediate offers from a marketplace of lenders who fully understand their ability to pay, residual income and eligibility for down payment assistance and inclusive lending programs.

For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

About Kevin Harrington:

Harrington is world renowned as the inventor of the infomercial, pioneer of the "As Seen on TV" brand and one of the original "sharks" on the hit ABC show "Shark Tank." He has launched more than 20 businesses that have each grown sales in excess of $100 million as part of a career that has introduced 1,000+ products generating over $6 billion in global sales. His business experience spans the globe, including opening distribution outlets in over 100 countries. https://kevinharrington.tv/

FormFree has partnered with serial entrepreneur Kevin Harrington of "Shark Tank" fame to promote Passport, a free service that makes it easy for consumers to quantify their borrowing power and share their verified assets, employment, annual and residual income and rent payment history with their preferred lender in just minutes from any web-enabled device.

Related link: https://www.formfree.com/

FormFree joins ACUMA as an affiliate member

ATHENS, Ga. /ScoopCloud/ -- FormFree® today announced it has joined the American Credit Union Mortgage Association (ACUMA) as an affiliate member. Through its membership, FormFree aims to help credit unions provide more inclusive pathways to homeownership by introducing them to residual income analytics, a methodology for gaining enhanced insight into borrowers' ability to repay loans.

FormFree develops cutting-edge technology that helps lenders better understand credit risk, particularly for historically underserved borrowers that have no credit history, thin credit files and lower credit scores. Passport® enables borrowers to share their Financial DNA with lenders, which is comprised of consumers' direct-source financial data. FormFree's patent-pending Residual Knowledge Income Index™ (RIKI™) enables lenders to assess consumer creditworthiness with an innovative combination of cashflow and residual income analysis - methodologies that support more inclusive credit decisions.

"Credit unions play an important role in helping the communities they serve to build wealth and buy homes," said FormFree CEO Brent Chandler. "It is my hope that joining ACUMA will allow us to enable credit unions to extend financing to more creditworthy members by gaining a deeper understanding of their true ability to pay."

ACUMA is an organization dedicated to helping credit unions optimize their real estate financing services. ACUMA member organizations include federal- and state-chartered credit unions and Credit Union Service Organizations (CUSOs), mortgage insurance companies, secondary market investors and investment banking firms and mortgage technology firms.

"Our organization serves as a vital resource in creating opportunities for credit union professionals and their primary suppliers to network, share knowledge, build relationships and grow market share," said ACUMA President Peter J. Benjamin, CMB. "We are delighted to introduce an extra asset to our members and extend a warm welcome to FormFree."

About FormFree®:

FormFree helps lenders understand credit risk like never before with its patented Passport® product, which opens doors to more inclusive credit decisioning by revealing each customer's true ability to pay (ATP®), and patent-pending Residual Knowledge Income Index™ (RIKI™), an innovative method for evaluating consumer creditworthiness based on residual income analysis. For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

About ACUMA:

The American Credit Union Mortgage Association is a not-for-profit trade association dedicated to credit unions and mortgage lending. ACUMA provides resources and education to credit unions aimed at streamlining performance, processes, and procedures for real estate lending services. ACUMA's goal is to encourage credit unions to help more consumers get fairly priced and safe mortgage loans delivered locally, and in so doing, provide them with a pathway to the American dream of home ownership. ACUMA brings together the shared real estate lending and financing interests of hundreds of credit unions and CUSOs. ACUMA member organizations include federal and state charted credit unions and CUSO, mortgage insurance companies, secondary market investors, investment banking firms, and technology companies. Visit ACUMA's website at https://acuma.org/ for more information.

FormFree today announced it has joined the American Credit Union Mortgage Association (ACUMA) as an affiliate member. Through its membership, FormFree aims to help credit unions provide more inclusive pathways to homeownership by introducing them to residual income analytics, a methodology for gaining enhanced insight into borrowers' ability to repay loans.

Related link: https://www.formfree.com/

Jonathan Nahil joins FormFree as chief technology officer

ATHENS, Ga. /ScoopCloud/ -- FormFree® today announced that it has brought on Jonathan Nahil as chief technology officer (CTO). Nahil possesses more than 20 years of experience as a software architect and leader of development teams at renowned technology organizations.

Previously, Nahil worked at Accenture, where he spent more than a decade as global head of architecture for the Mortgage Cadence suite of enterprise loan origination applications. He has also held senior software leadership positions at publicly traded companies Twilio and Amazon.

Immediately before joining FormFree, Nahil was a software architect at customer service automation platform Ada. His responsibilities included designing software systems, collaborating with senior leadership on strategic initiatives and providing technical guidance to the product development teams.

"I've helped organizations break the status quo with innovative technologies, and I look forward to helping FormFree do just that with products that enable lenders to support financial inclusion and responsible underwriting," said Nahil. "I am honored to be a part of FormFree's mission to build the next generation of the consumer lending experience and expand credit to those not served by the current model."

"Although we come from different backgrounds and have unique specialties, each member of the FormFree team shares a revolutionary spirit - a spirit I recognized in Jonathan Nahil immediately," said FormFree Founder and CEO Brent Chandler. "I can't think of a better person to keep our technology on the leading edge of the mortgage industry's alternative credit revolution."

About FormFree®:

FormFree helps lenders understand credit risk like never before with its patented Passport® product, which opens doors to more inclusive credit decisioning by revealing each customer's true ability to pay (ATP®), and patent-pending Residual Knowledge Income Index(TM) (RIKI(TM)), an innovative method for evaluating consumer creditworthiness based on residual income analysis.

For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

FormFree® today announced that it has brought on Jonathan Nahil as chief technology officer (CTO). Nahil possesses more than 20 years of experience as a software architect and leader of development teams at renowned technology organizations.

Related link: https://www.formfree.com/

FormFree’s Brent Chandler named an Inman Best of Finance award honoree

ATHENS, Ga. /ScoopCloud/ -- FormFree(R) today announced that its founder and CEO Brent Chandler was named to Inman's 2023 Best of Finance award program, which recognizes the leaders who are reshaping the mortgage and finance industries for both professionals and consumers. The inaugural class of Inman's Best of Finance winners were honored for their unwavering commitment to innovation and service in the residential mortgage space.

"For the first time in Inman history, we are shining a spotlight on the companies and individuals helping to raise the bar for mortgage and financial services," said Emily Paquette, Inman chief executive officer. "Their dedication to the communities they serve is driving change across our industry."

Inman recognized Chandler for revolutionizing the way lenders operate with FormFree's Residual Income Knowledge Index(tm) (RIKI(tm)), which provides insight into consumers' ability to pay by analyzing borrower-permissioned bank transaction data. RIKI's groundbreaking capabilities help financial institutions offer a more inclusive path to homeownership for consumers with thin credit files or no credit score.

Chandler was also honored for being the mastermind behind FormFree's Passport(R) mobile app. Passport verifies and perpetually updates consumers' Financial DNA(R) - identity, assets, income, employment, public records and credit data - in a secure, sharable token. The app puts consumers in control of their self-sovereign financial identity (SSFI) and facilitates seamless sharing with lenders.

"It's an honor to be recognized by Inman's Best of Finance award program for the work we are doing at FormFree to revolutionize the way lenders serve fiscally responsible consumers that don't fit the traditional credit mold," said Chandler. "RIKI and Passport are important to making home homeownership more inclusive and accessible."

The complete list of Inman's 2023 Best of Finance Award winners is available online at https://www.inman.com/best-of-finance-awards/.

About FormFree(R)

FormFree helps lenders understand credit risk like never before with its patented Passport(R) product, which opens doors to more inclusive credit decisioning by revealing each customer's true ability to pay (ATP(R)), and patent-pending Residual Knowledge Income Index(tm) (RIKI(tm)), an innovative method for evaluating consumer creditworthiness based on residual income analysis. For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

FormFree(R) today announced that its founder and CEO Brent Chandler was named to Inman's 2023 Best of Finance award program, which recognizes the leaders who are reshaping the mortgage and finance industries for both professionals and consumers. The inaugural class of Inman's Best of Finance winners were honored for their unwavering commitment to innovation and service in the residential mortgage space.

Related link: https://www.formfree.com/

IndiSoft partners with FormFree to streamline the delivery of housing counseling services to underserved consumers

ATHENS, Ga. /ScoopCloud/ -- FormFree® today announced that developer of collaborative solutions for the housing finance industry, IndiSoft, is leveraging FormFree's Passport® to enable HUD-approved housing counseling agencies (HCAs) to provide more effective and expeditious consumer counseling.

IndiSoft's National Housing Advocacy Platform (NHAP) seamlessly connects thousands of HUD-certified housing counselors with mortgage lenders, servicers and investors. Passport is an app that enables consumers to electronically share their Financial DNA - which is made up of direct-source identity, asset, income, employment, public records, credit and rent payment data - with financial professionals. Integrating Passport with IndiSoft's HUD-certified client management system, RxOffice CMS, enables housing counselors to advise consumers more efficiently and increase the number of successful consumer outcomes.

HCAs provide an array of counseling services, including pre-purchase, foreclosure prevention and reverse mortgage counseling, and are playing an increasingly vital role in expanding affordable homeownership among low-to-moderate income borrowers and borrowers of color. The HUD Office of Housing Counseling reports that since 2012, it has supported 12.2 million households who sought housing counseling assistance through a HUD-approved HCA.

"Streamlining how HCAs collaborate with consumers and key stakeholders enables HCAs to provide better quality service and increase successful homeownership outcomes for those who need it most," said FormFree Founder and CEO Brent Chandler. "It is with great pride that FormFree partners with IndiSoft to bring innovation to such an important sector of the housing ecosystem."

"As the entire mortgage lending and financial counseling sectors collaborate to close the wealth and homeownership gaps in the United States, we are committed to working with partners like FormFree who share these objectives and deliver products and services that enable their fulfillment," said Hans Rusli, CEO of IndiSoft LLC.

"FormFree is proud to partner with IndiSoft to empower HUD-approved housing counseling agencies with cutting-edge technology that streamlines the consumer counseling process," said FormFree President Eric Lapin. "By integrating our innovative Passport app with IndiSoft's National Housing Advocacy Platform, we are enabling housing counselors to better support sustainable homeownership."

About FormFree®:

FormFree helps lenders understand credit risk like never before with its patented Passport® product, which opens doors to more inclusive credit decisioning by revealing each customer's true ability to pay (ATP®), and patent-pending Residual Knowledge Income Index™ (RIKI™), an innovative method for evaluating consumer creditworthiness based on residual income analysis. For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

About IndiSoft, LLC:

Columbia, Maryland-based IndiSoft LLC develops collaborative technology solutions for the financial services industry. Its RxOffice platform the core framework for its National Housing Advocacy Platform, provides advanced workflow management and rich data management tools that enhance risk-based assessment and help companies meet regulatory requirements. RxOffice provides efficient, reliable, and scalable solutions for companies, including mortgage servicers, investors, insurers, and law firms to name a few, that want to remain compliant, effectively manage workflow and maintain a competitive edge. Connect: www.indisoft.us | Twitter: @IndiSoftllc.

FormFree® today announced that developer of collaborative solutions for the housing finance industry, IndiSoft, is leveraging FormFree's Passport® to enable HUD-approved housing counseling agencies (HCAs) to provide more effective and expeditious consumer counseling.

Related link: https://www.formfree.com/

GreenLyne adopts FormFree’s Residual Income Knowledge Index to unlock greater inclusivity in mortgage lending

ATHENS, Ga. /ScoopCloud/ -- FormFree® today announced that Inclusive-Finance-as-a-Service platform GreenLyne has enhanced its ability to help lenders identify home financing opportunities for underserved consumers with its adoption of FormFree's Residual Income Knowledge Index™ (RIKI™).

GreenLyne technology enables mortgage lenders to finance borrowers who have the capacity to support a mortgage but typically would be deemed ineligible for home financing. FormFree's patent-pending RIKI (pronounced "RIH-kee") is a risk-analysis model that analyzes cash flow and residual income to ascertain a more complete picture of a borrower's creditworthiness than traditional credit scoring alone. By incorporating RIKI into its Automated Second-Look Engine, GreenLyne can more precisely and fairly predict a borrower's risk of default and thereby set appropriate loan terms that balance profitability for the lender and affordability for the homebuyer.

Because standard underwriting models are unable to assess default risk for borrowers who have thin credit files or FICO scores below 660, these borrowers are often excluded from housing finance. According to the Urban Institute, more than 39 million Americans have a credit score between 600-660 and are mortgage-ready, yet struggle to obtain a mortgage.

"Too many consumers who have a steady income and dutifully pay their bills on time are being excluded from homeownership because mortgage lenders haven't had tools to assess their ability to pay. In effect, these consumers are being punished for an industry's weakness, which is profoundly unfair," said FormFree Founder and CEO Brent Chandler. "We are proud to provide GreenLyne with RIKI's residual income analytics so it can pave a more inclusive path to homeownership for a large cohort of Americans."

"GreenLyne's fair lending credit underwriting innovation provides a precise path to safely and soundly expand homeownership for a large, unfairly underserved segment of Americans," said GreenLyne CEO Syeed Mansur. "We are delighted to forge a deep partnership with FormFree, which couples a new era of consumer financial data with breakthrough advances in high accuracy credit risk prediction and fair underwriting that optimally balance affordability for borrowers and profitability for lenders."

About FormFree®

FormFree helps lenders understand credit risk like never before with its patented Passport® product, which opens doors to more inclusive credit decisioning by revealing each customer's true ability to pay (ATP®), and patent-pending Residual Knowledge Income Index™ (RIKI™), an innovative method for evaluating consumer creditworthiness based on residual income analysis. For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

FormFree® today announced that Inclusive-Finance-as-a-Service platform GreenLyne has enhanced its ability to help lenders identify home financing opportunities for underserved consumers with its adoption of FormFree's Residual Income Knowledge Index™ (RIKI™).

Related link: https://www.formfree.com/

FormFree selected to HousingWire Tech100 for the ninth year

ATHENS, Ga. /ScoopCloud/ -- FormFree® today announced its inclusion in HousingWire's (HW's) annual Tech100 list for the ninth year. The HW Tech100 Mortgage Awards recognize the U.S. housing economy's most innovative and influential fintech companies and solutions.

Since 2008, FormFree has brought to market several first-of-its-kind solutions designed to help mortgage lenders underwrite loans more efficiently. It is the maker of Passport®, a solution that gives lenders more comprehensive insight into borrowers' true ability to pay (ATP®). Last October, FormFree launched its Residual Income Knowledge Index™ (RIKI™), a groundbreaking tool that helps lenders better determine risk based on residual income analysis. Both solutions enable mortgage lenders to adopt more inclusive credit decisioning practices.

"This is FormFree's ninth year as a HW Tech100 company, and it is truly an honor to see our logo represented alongside other enterprising housing technology organizations," said FormFree Founder and CEO Brent Chandler. "Digital asset verification was cutting-edge when we introduced it to the mortgage industry more than a decade ago. Now, we plan to transform the finance industry a second time by making home financing and the wealth-building benefits of homeownership accessible to more people with RIKI and Passport."

"As someone who had a front-row seat to watch the housing economy's tech transformation, I am increasingly in awe of the innovation we have seen from the Tech100 winners year after year," HW Media Editor in Chief Sarah Wheeler said. "With new technologies emerging every day, I am proud to be part of this exciting journey that has positioned the industry to be more efficient, more transparent and more accessible than ever before."

HW receives hundreds of HW Tech100 award nominations each year. Submissions are carefully evaluated by a selection panel of industry leaders and HW's editorial team. 2023 Tech100 Mortgage and Tech100 Real Estate honorees are featured in the March issue of HW Magazine and on the HW website.

About FormFree®

FormFree helps lenders understand credit risk like never before with its patented Passport® product, which opens doors to more inclusive credit decisioning by revealing each customer's true ability to pay (ATP®), and patent-pending Residual Knowledge Income Index™ (RIKI™), an innovative method for evaluating consumer creditworthiness based on residual income analysis. For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

FormFree® today announced its inclusion in HousingWire's (HW's) annual Tech100 list for the ninth year. The HW Tech100 Mortgage Awards recognize the U.S. housing economy's most innovative and influential fintech companies and solutions.

Related link: https://www.formfree.com/

FormFree sharpens focus on decentralizing and democratizing consumer access to credit with strategic divestiture of AccountChek

ATHENS, Ga., /ScoopCloud/ -- Founder and CEO Brent Chandler today heralded a new era for FormFree® following its strategic divestiture of asset-verification service AccountChek®. Moving forward, the fintech will focus on products that advance its mission to decentralize and democratize the way consumers understand their financial data and access credit opportunities. Eric Lapin, who joined FormFree in 2022 as chief strategy officer, will guide the company's next chapter as president.

"FormFree changed the lending industry when we launched its first wave of digital transformation, and we're ready to change it again by ushering in a new era of consumer empowerment and expanded access to credit for all people," said Chandler. "As our new president, Eric will play a critical role in guiding FormFree's next chapter as we double down on creating new avenues for lenders to responsibly serve credit invisibles and other underserved populations."

Lapin says the company's new direction will include an increased focus on blockchain and other decentralized Web3 technologies that give users greater control over their data and privacy. For example, the Qualified Borrower™ (QB) token Lapin helped conceptualize and bring to market last year enables FormFree to share consumers' validated Financial DNA® and indicators of homebuying interest with best-fit lenders and service providers while keeping consumers' identities anonymous.

A widely recognized innovator in mortgage and financial services technologies, FormFree is the developer of Passport®, a first-of-its-kind mobile application that verifies and perpetually updates a consumer's comprehensive Financial DNA and puts consumers in the driver's seat of their self-sovereign financial identity (SSFI). FormFree is also the creator of the Residual Knowledge Income Index™ (RIKI™), a method for evaluating consumer creditworthiness based on cash-flow analysis. RIKI allows lenders to safely extend credit to consumers whose lack of credit history or thin credit files may not meet traditional underwriting requirements.

FormFree will continue to operate in the mortgage space with a focus on helping lenders meet the needs of more than 45 million Americans who are either credit-unserved or credit-underserved. In so doing, FormFree will help regulated financial institutions meet their obligations under the Community Reinvestment Act (CRA), which calls on banks to meet the needs of low- and moderate-income borrowers in the communities they serve.

The fintech will also continue its ongoing expansion beyond mortgage origination into other phases of the homeownership journey, including home search, pre-purchase housing counseling and loss mitigation. In addition, Lapin sees opportunities for FormFree's know your everything (KYE) and anti-money laundering (AML) capabilities to disrupt the digital currency, auto loan and personal loan verticals.

"FormFree is proud to have pioneered the mortgage industry's first asset verification service, and that revolutionary spirit will propel the next phase of our growth," said Lapin. "Moving forward with a laser focus on the future will allow FormFree to innovate with the agility of a startup while benefitting from all the experience and wisdom we have accumulated over nearly two decades in business."

About FormFree®:

FormFree helps lenders understand credit risk like never before with its patented Passport® product, which opens doors to more inclusive credit decisioning by revealing each customer's true ability to pay (ATP®), and patent-pending Residual Knowledge Income Index™ (RIKI™), an innovative method for evaluating consumer creditworthiness based on residual income analysis.

For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

Twitter: @RealFormFree #fintech #digitalmortgage #mortgage

Founder and CEO Brent Chandler today heralded a new era for FormFree® following its strategic divestiture of asset-verification service AccountChek®. Moving forward, the fintech will focus on products that advance its mission to decentralize and democratize the way consumers understand their financial data and access credit opportunities. Eric Lapin, who joined FormFree in 2022 as chief strategy officer, will guide the company's next chapter as president.

Related link: https://www.formfree.com/

FormFree’s Brent Chandler named a 2023 Industry Titan by National Mortgage Professional

ATHENS, Ga. /ScoopCloud/ -- FormFree® today announced that its founder and CEO Brent Chandler was featured in National Mortgage Professional's list of 2023 Industry Titans. The inaugural Industry Titans awards program recognized 24 of the most notable leaders in mortgage lending.

Chandler was honored for his numerous achievements in the housing finance ecosystem, including being the first to bring electronic asset verification to mortgage lending with FormFree's pioneering product, AccountChek®. Using consumers' direct-source bank data, AccountChek combines verification of a loan applicant's assets, income, employment and rent payment history into one paperless step. It then automatically delivers findings to financial institutions in a single, underwriter-friendly report.

Chandler broke new ground again with the October 2022 release of FormFree's Residual Income Knowledge Index(tm) (RIKI(tm)). With rules-based alternative credit algorithms, RIKI measures consumers' ability to pay (ATP®) for a loan based on their monthly income and spending, opening the credit box for the 53 million American consumers without a credit score and 100 million renters who receive no credit for their monthly rent payments.

"For more than a decade, our incredible team at FormFree has focused on developing solutions to reduce long-standing biases in credit decisioning and help expand access to sustainable credit for historically underserved communities," said Chandler. "I'm humbled that this passion has earned me recognition among some of the most influential leaders in the mortgage industry."

The 2023 Industry Titans are featured in the January 2023 issue of National Mortgage Professional magazine. Winners' profiles can also be viewed online at https://nationalmortgageprofessional.com/news/meet-nmp-2023-titans-industry.

About FormFree®

As the industry's go-to provider for direct-source VOA and VOI/E data, FormFree helps lenders understand credit risk like never before. Our patented AccountChek® and Passport® products open doors to more inclusive credit decisioning by revealing each customer's true ability to pay (ATP®). We have completed over $4 trillion in loan verifications that help lenders lower operating costs while improving the borrower experience.

For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

FormFree® today announced that its founder and CEO Brent Chandler was featured in National Mortgage Professional's list of 2023 Industry Titans. The inaugural Industry Titans awards program recognized 24 of the most notable leaders in mortgage lending.

Related link: https://www.formfree.com/

FormFree expands its verification of income and employment network through partnership with Truv

ATHENS, Ga. /ScoopCloud/ -- FormFree® announced that it has partnered with Truv to enhance AccountChek®'s verification of income and employment (VOI/E) reporting capabilities with Truv's payroll provider network, expanding the modern convenience of electronically sharing payroll data with mortgage lenders to 120 million workers.

AccountChek streamlines the mortgage lending process by making it easy for borrowers to electronically furnish the financial and employment data that lenders need to fulfill underwriting requirements and assess ability to pay (ATP®). When borrowers authorize payroll providers to electronically share direct-source payroll data, AccountChek securely delivers it to lenders and the government sponsored enterprises (GSEs) in underwriter-friendly reports that include the borrower's six most recent paystubs, most recent W-2 and the ability to refresh documentation within 10 days of closing.

Dedicated to serving the unique verification needs of mortgage lenders, FormFree has more than 100 integrations with industry-relevant technology providers and reseller partners, making AccountChek's verification of asset (VOA) and VOI/E services available for more than 90% of mortgage transactions nationwide. FormFree closely collaborates with Fannie Mae and Freddie Mac to support verification initiatives that help lenders streamline processes without incurring additional risk.

"Expediting time-to-close, reducing loan production costs and improving borrower experience are priorities for mortgage lenders of every stripe," said FormFree Founder and CEO Brent Chandler. "Expanding our payroll provider network by partnering with Truv enables mortgage lenders to extend the ease of electronic payroll data verification to millions of workers while lessening staff time spent collecting and verifying physical paystubs and other paper documents."

"Truv is proud to bolster FormFree's VOE and VOI reach with our expansive payroll and human resources information system integrations," said Kirill Klokov, CEO of Truv. "We look forward to continuing to build out capabilities that help our customers serve their clients."

About FormFree®

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.

About Truv

Truv (truv.com), formerly known as Citadel API, empowers enterprise businesses to make confident financial decisions. Truv is a best-in-class verification technology that delivers fast, accurate, and cost-effective consumer income and employment data for financial institutions. Truv's customers make faster, more confident decisions, while consumers benefit from quicker approvals and a better overall experience. Truv's automated and secure infrastructure connects to 50+ payroll providers, covering 120 million people and 85 percent of the US workforce.

FormFree® announced that it has partnered with Truv to enhance AccountChek®'s verification of income and employment (VOI/E) reporting capabilities with Truv's payroll provider network, expanding the modern convenience of electronically sharing payroll data with mortgage lenders to 120 million workers.

Related link: https://www.formfree.com/

FormFree supports Freddie Mac’s launch of innovative underwriting enhancement that uses cash flow analysis to help increase home financing access

ATHENS, Ga. /ScoopCloud/ -- FormFree® today announced that mortgage lenders will be able to use AccountChek® to help more lenders qualify more borrowers for home financing as a result of a recently announced Freddie Mac initiative that analyzes loan applicants' account transaction data as part of its automated underwriting system, Loan Product Advisor® (LPA℠). AccountChek users will be able to take advantage of LPA's enhancement when it goes live on November 6, 2022.

"By incorporating borrowers' cash flow assessments into its purchase eligibility assessment, Freddie Mac is helping lenders confidently provide a more inclusive path to homeownership within the communities they serve," said FormFree Founder and CEO Brent Chandler. "This additional assessment will also be beneficial to underserved communities and first-time homebuyers, who may have the financial means to support homeownership but have been unable to attain financing with existing automated risk tools."

When mortgage loan applicants authorize AccountChek to electronically fulfill verification of asset (VOA) reporting requirements, LPA assesses transaction data from checking, savings and investments accounts to identify positive monthly cash flow patterns. The cash flow assessment is only used to positively affect loan applicants' credit risk assessments; it does not negatively impact applicants' credit risk assessments. To help lenders increase access to home financing for more borrowers, LPA will notify lenders of loan files that do not have an electronic VOA report and could benefit from a cash flow assessment.

FormFree has long been a proponent of leveraging consumers' direct-source financial data to better assess their ability to repay loans. FormFree independently developed its Residual Income Knowledge Index(tm), known as RIKI(tm) (RIH-kee), which measures consumers' Ability-to-Pay (ATP®) for mortgages and other loans based on monthly income and spending. In July, Guild Mortgage introduced its Complete Rate lending program, which leverages RIKI to provide a more inclusive path to homeownership. In October, FormFree made RIKI available to lenders nationwide.

About FormFree®

As the industry's go-to provider for direct-source VOA and VOI/E data, FormFree helps lenders understand credit risk like never before. Our patented AccountChek® and Passport® products open doors to more inclusive credit decisioning by revealing each customer's true ability to pay (ATP®). We have completed over $4 trillion in loan verifications that help lenders lower operating costs while improving the borrower experience. For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

FormFree® today announced that mortgage lenders will be able to use AccountChek® to help more lenders qualify more borrowers for home financing as a result of a recently announced Freddie Mac initiative that analyzes loan applicants' account transaction data as part of its automated underwriting system, Loan Product Advisor® (LPA℠).

Related link: https://www.formfree.com/

FormFree’s AccountChek can now be used by mortgage lenders to satisfy Freddie Mac’s assessment of income requirement for loan applicants paid through ADP

ATHENS, Ga. /ScoopCloud/ -- FormFree® today announced that mortgage lenders can now use AccountChek® to automate income assessment using Freddie Mac Loan Product Advisor® (LPA℠) asset and income modeler (AIM) for borrowers who are paid through ADP.

AIM automates the assessment of borrower income using direct-source employer and payroll service data furnished by a Freddie Mac designated third-party service providers like FormFree. ADP is the first payroll provider eligible for automated verification of income (VOI) through AIM. AccountChek supports this expansion by enabling borrowers to authorize electronic verification of their ADP payroll data.

FormFree is a leading provider of consumer-permissioned verification of asset (VOA) and verification of income and employment (VOI/E) data to the mortgage industry. The company's flagship verification service, AccountChek, enables consumers to verify income and employment with more than 50 payroll providers and 100,000 employers. The company's extensive payroll partnerships enable AccountChek to furnish payroll data and W-2s that meet Freddie Mac selling requirements.

"FormFree applauds Freddie Mac for its continuous innovation that helps lenders execute a simpler, more efficient loan origination process," said FormFree Founder and CEO Brent Chandler. "Giving lenders the ability to automatically assess income dispersed by the world's largest payroll provider will extend the convenience of digital VOI to an expansive cohort of homebuyers. We look forward to supporting Freddie Mac as it adds more payroll providers to AIM."

"Automation of a mortgage applicant's income using payroll provider data has numerous benefits for our clients and their customers - it's really a win all around," said Kevin Kauffman, Single-Family Vice President of Client & Partner Delivery at Freddie Mac. "Our partnership with FormFree is helping our clients reduce costs through process efficiencies, which can lead to savings for their customers, and it also delivers better risk management in all economic cycles."

About FormFree®

As the industry's go-to provider for direct-source VOA and VOI/E data, FormFree helps lenders understand credit risk like never before. Our patented AccountChek® and Passport® products open doors to more inclusive credit decisioning by revealing each customer's true ability to pay (ATP®). We have completed over $3 trillion in loan verifications that help lenders lower operating costs while improving the borrower experience.

For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

FormFree® today announced that mortgage lenders can now use AccountChek® to automate income assessment using Freddie Mac Loan Product Advisor® (LPA℠) asset and income modeler (AIM) for borrowers who are paid through ADP.

Related link: https://www.formfree.com/

FormFree releases Residual Income Knowledge Index, an intelligent new system for assessing borrowers’ Ability to Pay, to lenders nationwide

ATHENS, Ga. /ScoopCloud/ -- FormFree® today announced the general availability of its Residual Income Knowledge Index™, or RIKI™. RIKI is an innovative method for measuring consumers' Ability-to-Pay (ATP®) for mortgages and other loans based on monthly income and spending. When paired with traditional credit scoring models, RIKI offers lenders a more complete understanding of consumers' creditworthiness and creates homeownership opportunities for those with little to no credit history.

RIKI's knowledge-engineered rules are informed by human financial experts and are designed to help lenders mitigate risk through a more nuanced understanding of borrowers' spending habits and ability to save. With a borrower's consent, FormFree calculates residual income and RIKI by analyzing bank and credit card transaction statements procured directly from the source financial institutions. By giving lenders a better understanding of a borrower's discretionary funds after mandatory monthly expenses (e.g., rent, utilities, loan payments), RIKI helps lenders extend credit more inclusively and confidently.

In July, San Diego-based Guild Mortgage (NYSE: GHLD) became the first lender to pilot RIKI with its launch of Complete Rate, a program that provides a more inclusive path to homeownership by allowing consumers with no credit score or credit history to opt in to RIKI's assessment of their financial data for a chance to qualify for a lower interest rate, lower fees or both.

"Our Complete Rate program, powered by FormFree's RIKI, helps remove a key obstacle faced by many first-time homebuyers and has allowed Guild to better serve consumers in a challenging interest-rate environment," said David Battany, Guild Mortgage's EVP of capital markets. "By supplementing consumers' credit scores with analysis of their real transaction data, our groundbreaking approach democratizes the credit decisioning process for those who need it most - historically underserved racial and ethnic groups, consumers with thin credit files and people without traditional full-time jobs."

RIKI is now available to banks, credit unions and independent mortgage banks (IMBs) across the United States. The rule-based algorithms driving the now-public feature have been painstakingly engineered without blackbox machine learning and tested to ensure RIKI cannot develop unintended prejudices. FormFree's cash flow analysis also automatically identifies and disregards outliers in a consumer's income and spending history to ensure that occasional windfalls, money transfers or large purchases do not affect ATP estimates.

"Traditional credit scoring systems are designed to reward a very specific type of borrower: one with a W-2, a strong credit history and a good debt-to-income ratio. Unfortunately, these risk determination methods bar countless mortgage-ready Americans from affordable homeownership," said Brent Chandler, founder and CEO of FormFree. "RIKI rewards something more basic and uncontroversial than credit history: simply making ends meet. When considered with a credit score, insight into consumers' ability to pay and save adds an extra layer of certainty when determining borrower risk."

To learn more about RIKI and request a personalized demo, visit https://www.formfree.com/residual-income-knowledge-index/

About FormFree®

As the industry's go-to provider for direct-source VOA and VOI/E data, FormFree helps lenders understand credit risk like never before. Our patented AccountChek® and Passport® products open doors to more inclusive credit decisioning by revealing each customer's true ability to pay (ATP®). We have completed over $3 trillion in loan verifications that help lenders lower operating costs while improving the borrower experience. For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

FormFree today announced the general availability of its Residual Income Knowledge Index, or RIKI. RIKI is an innovative method for measuring consumers' Ability-to-Pay (ATP) for mortgages and other loans based on monthly income and spending. When paired with traditional credit scoring models, RIKI offers lenders a more complete understanding of consumers' creditworthiness and creates homeownership opportunities for those with little to no credit history.

Related link: https://www.formfree.com/

FormFree raises $55,000 for the American Red Cross of Northeast Georgia at its third annual Heroes Golf Classic

ATHENS, Ga. /ScoopCloud/ -- FormFree® today announced that it raised $54,705 to benefit the Northeast Georgia chapter of the American Red Cross at its annual Heroes Golf Classic charity golf tournament. Now in its third year, the September 9 event brought together volunteers and 84 at the Lanier Islands Legacy Golf Course in Buford, Georgia to raise funds for local blood drives, humanitarian aid and educational programs.

The American Red Cross of Northeast Georgia is a 501(c)(3) nonprofit organization that provides direct service to 23 Georgia counties by supporting the collection, testing and distribution of blood and blood components in the region, providing emergency resources for military families, facilitating lifesaving training and helping communities impacted by disasters.

FormFree Founder and CEO Brent Chandler joined the organization's board of directors in 2017, and FormFree was named the chapter's 2021 Corporate Blood Sponsor of the Year.

"I truly believe that giving is the highest form of living, so it is with great joy that FormFree gives back to the local community through the American Red Cross of Northeast Georgia," said Chandler. "Thank you to all the FormFree friends who gave time and funds by volunteering, sponsoring and playing in the 2022 Heroes Golf Classic. By giving back to those in need, we all gained purpose through service. There is nothing more valuable than that."

"The Heroes Golf Classic is FormFree's largest annual fundraiser for the American Red Cross of Northeast Georgia, but FormFree's contributions are not limited to this event. FormFree champions our mission year-round through in-office blood drives and employee volunteer work," said Marlon Trone, executive director of the American Red Cross of Northeast Georgia. "The $55,000 raised at this year's Heroes Golf Classic goes to show how our partnership with FormFree broadens our ability to serve military families and those affected by disasters in the Northeast Georgia region and beyond."

FormFree is grateful to the following corporate sponsors for their generous support of the 2022 Heroes Golf Classic:

* Wells Fargo

* MCT

* Ameris Bank

* HomeScout

* Lenders One

* DepthPR

* Gateway Compliance

* Northpointe Bank

* Synovus Bank

* MX

About FormFree®

As the industry's go-to provider for direct-source VOA and VOI/E data, FormFree helps lenders understand credit risk like never before. Our patented AccountChek® and Passport® products open doors to more inclusive credit decisioning by revealing each customer's true ability to pay (ATP®). We have completed over $3 trillion in loan verifications that help lenders lower operating costs while improving the borrower experience.

For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

FormFree® today announced that it raised $54,705 to benefit the Northeast Georgia chapter of the American Red Cross at its annual Heroes Golf Classic charity golf tournament. Now in its third year, the September 9 event brought together volunteers and 84 at the Lanier Islands Legacy Golf Course in Buford, Georgia to raise funds for local blood drives, humanitarian aid and educational programs.

Related link: https://www.formfree.com/

FormFree integrates with Docutech to streamline loan production with VOA and VOI/E capture

ATHENS, Ga. /ScoopCloud/ -- 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."

About FormFree®

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.

About Docutech

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.

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.

Related link: https://www.formfree.com/

FormFree and Finastra partnership streamlines borrower verification for improved mortgage loan processing

ATHENS, Ga. /ScoopCloud/ -- Finastra and FormFree®, a market-leading fintech company that enables lenders to understand people's true ability to pay (ATP®), have partnered to further streamline electronic borrower verification for mortgage lenders. FormFree's AccountChek will integrate directly into Finastra's Mortgagebot solutions to facilitate an automated asset, income and employment verification process that paves the way for faster loan decisioning.

"Partnering with Finastra has enabled us to further optimize the borrower verification process for AccountChek and Mortgagebot users," said Brent Chandler, founder and CEO at FormFree. "Notably, the integration makes it easier for lenders to support the government sponsored enterprises' verification initiatives that help expand access to homeownership and streamline processes without incurring additional risk. Combined, Finastra and FormFree's technologies and shared vision for fair and inclusive access to home financing will help lenders deliver an elevated borrower experience."

Fusion Mortgagebot is Finastra's end-to-end cloud-based lending platform that maximizes operational efficiency and mortgage opportunities for lenders. The integration of FormFree's AccountChek delivers significant time savings with its streamlined verification process. Borrower permissioned asset, income and employment data is retrieved and formatted into underwriter-friendly reports, providing lenders with full transparency and direct-source data for better credit decisioning while reducing processing time and risk of fraud.

Steve Hoke, vice president, mortgage and origination at Finastra said, "FormFree provided us with the perfect solution to help further streamline what is traditionally a very manual and labor-intensive task. For both lenders and borrowers, this added verification capability to our lending solution will have a significant impact on the loan cycle, creating a more efficient, secure and inclusive process."

The FormFree integration is available now for Fusion Originate Mortgagebot and Fusion MortgagebotLOS users in the Americas.

For more information on Fusion Mortgagebot, click here.

About FormFree®

As the industry's go-to provider for direct-source VOA and VOI/E data, FormFree helps lenders understand credit risk like never before. Our patented AccountChek® and Passport® products open doors to more inclusive credit decisioning by revealing each customer's true ability to pay (ATP®). We have completed over $3 trillion in loan verifications that help lenders lower operating costs while improving the borrower experience. For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

About Finastra

Finastra is a global provider of financial software applications and marketplaces, and launched the leading open platform for innovation, FusionFabric.cloud, in 2017. It serves institutions of all sizes, providing award-winning solutions and services across Lending, Payments, Treasury & Capital Markets and Retail & Digital Banking for banks to support direct banking relationships and grow through indirect channels, such as embedded finance and Banking as a Service. Its pioneering approach and commitment to open finance and collaboration is why it is trusted by ~8,600 institutions, including 90 of the world's top 100 banks. For more information, visit finastra.com.

Finastra and FormFree®, a market-leading fintech company that enables lenders to understand people's true ability to pay (ATP®), have partnered to further streamline electronic borrower verification for mortgage lenders.

Related link: https://www.formfree.com/

FormFree and HomeScout partner to help lenders identify mortgage-ready borrowers earlier in the home buying journey

ATHENS, Ga. /ScoopCloud/ -- FormFree® has partnered with HomeScout, a wholly owned subsidiary of FirstClose®, to launch HomeScout Qualified Borrower, a tool that helps lenders generate leads and concentrate borrower conversion efforts on mortgage-ready home buyers.

HomeScout offers mortgage professionals a suite of tools built to capture more purchase business and close more loans by engaging with in-market home buyers early in their home buying journeys. With the introduction of HomeScout Qualified Borrower, FormFree and HomeScout helps prospective homebuyers - including those with thin credit files or no credit score at all - understand their buying power and share it with lenders before completing a detailed loan application or receiving an initial loan estimate.

FormFree is a leading provider of ability to pay (ATP®) analytics for the lending industry, including verification of assets (VOA), verification of income and employment (VOI/E) and rent payment history. FormFree's patent-pending Residual Income Knowledge Index™ (RIKI™) supplements traditional credit evaluation models with analysis of a consumer's cash flow and residual income, creating a more complete picture of a borrower's creditworthiness and potentially allowing more borrowers to qualify for a home loan.

"The systemic bias in today's lending model, however unintentional, has created a homeownership gap that has persisted for decades. The FHFA is calling upon the entire industry to make housing equity a priority, and FormFree is answering that call," said FormFree Chief Strategy Officer Eric Lapin. "Our Qualified Borrower™ token provides the top-of-funnel intelligence lenders need to responsibly extend credit to more borrowers while curbing sky-high loan origination costs."

"Our partnership with HomeScout redefines the way lenders engage with past customers and prospects by combining clear signals of home buying intent with a complete understanding of each consumer's ability to finance a home," said FormFree Founder and CEO Brent Chandler. "These are the highest-quality leads the industry has ever seen."

"Every day, hundreds of thousands of Americans start their home buying journeys online. With so many potential leads, the challenge for lenders is figuring out which buyers have both the intent to buy a home and the ability to repay a mortgage loan," said David Camp, President of HomeScout. "By combining our consumer marketing suite with FormFree's Qualified Borrower token, HomeScout Qualified Borrower helps lenders more efficiently connect with mortgage-ready home buyers before they are scooped up by competitors."

About FormFree:

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.

About HomeScout:

HomeScout is a lender-centric platform dedicated to growing conversions and retention rates for the mortgage industry. HomeScout, LLC is a wholly owned subsidiary of FirstClose®, a highly respected financial technology provider. This strategic partnership provides mortgage industry professionals with access to an extraordinary suite of solutions to best serve in-market home buyers and sellers, while also providing the necessary tools to amplify business growth.

With HomeScout, consumers will find all the tools they need to help them through the home buying and selling journey, including a branded and secure search portal.

HomeScout is committed to the retention and growth of database clients while providing commission security and consistency for mortgage professionals and organizations.

For more information on HomeScout visit https://homescout.realty.com/.

FormFree® has partnered with HomeScout, a wholly owned subsidiary of FirstClose®, to launch HomeScout Qualified Borrower, a tool that helps lenders generate leads and concentrate borrower conversion efforts on mortgage-ready home buyers.

Related link: https://www.formfree.com/

FormFree announces support for new Freddie Mac Loan Product Advisor enhancement aimed at expanding sustainable homeownership for renters

ATHENS, Ga. /ScoopCloud/ -- FormFree® announced that mortgage lenders using AccountChek® verification of asset (VOA) reports in conjunction with a Freddie Mac Loan Product Advisor® (LPA℠) solution will soon benefit from an enhancement that takes loan applicants' 12-month on-time rent payment history into consideration when assessing eligibility for qualified first-time homebuyers.

The enhancement, which is effective once announced in the Freddie Mac July Guide Bulletin, is designed to expand sustainable homeownership for the millions of Americans by taking their rent payment history into account when assessing eligibility. The expansion of rent payment history can increase the number of mortgage loan applicants who receive an Eligible/Accept recommendation in LPA.

"Freddie Mac is focused on offering value to our clients and improving the borrower experience as we continue to modernize the mortgage process," said Kevin Kauffman, Freddie Mac Single-Family Vice President of Client and Partner Delivery. "FormFree has been a strong partner on this journey by helping lenders assess credit eligibility for qualified first-time homebuyers."

LPA will automatically identify on-time rent payments - including those made via mobile apps like Venmo, Zelle and Paypal - within AccountChek VOA reports and take them into consideration when assessing eligibility for qualified first-time homebuyers. Only on-time rent payments will be considered; LPA will not assess late or missing rent payments.

"Freddie Mac's move to have Loan Product Advisor consider rent payment history in its assessment is part of a much larger push for more equitable home financing practices," said FormFree Chief Customer Officer Christy Moss. "People of color, who have disproportionately low homeownership rates and are overrepresented among credit invisible consumers will be most positively impacted by this enhancement to LPA."

"FormFree takes great pride in helping borrowers communicate their ability to pay and equipping lenders with the tools to confidently and efficiently verify borrower credentials," continued Moss. "We look forward to supporting Freddie Mac as it continues to deploy technology that improves access to sustainable credit for homebuyers."

Lenders can leverage rent payment history assessment through LPA asset and income modeler (AIM) when they order AccountChek reports of any length, including 30-, 60-, 90- and 180-day reports. In supplying LPA with 12 months of rent payment history, AccountChek has established safeguards that ensure the collection of extended rent payment history does not expose lenders to non-rent transactions, such as large gift deposits, that occurred more than 90 days in the past.

"FormFree remains committed to developing and supporting solutions that correct the racial homeownership gap," said FormFree Founder and CEO Brent Chandler. "Using FICO scores alone to evaluate creditworthiness excludes a large swath of minority homeowners who pay their rent on time and responsibly manage their finances without borrowing money from creditors. Direct source financial data is the key to understanding consumers' true ability and FormFree applauds Freddie Mac's efforts to help lenders finance homeownership more equitably."

For more information, visit https://www.formfree.com/rent/.

About FormFree:

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.

FormFree® announced that mortgage lenders using AccountChek® verification of asset (VOA) reports in conjunction with a Freddie Mac Loan Product Advisor® (LPA℠) solution will soon benefit from an enhancement that takes loan applicants' 12-month on-time rent payment history into consideration when assessing eligibility for qualified first-time homebuyers.

Related link: https://www.formfree.com/

Mortgage lenders are now able to use FormFree AccountChek to satisfy Freddie Mac’s reverification of employment requirement

ATHENS, Ga. /ScoopCloud/ -- FormFree® today announced that its AccountChek® digital asset verification service supports a new enhancement to Freddie Mac's Loan Product Advisor® (LPASM) asset and income modeler (AIM) solution that makes assessment of borrower employment easier, faster, less expensive and more fraud-resistant.

Under Freddie Mac Single-Family Seller/Servicer Guide requirements, with limited exceptions, mortgage lenders must verify each borrower's employment during the initial loan application, then again within 10 days of the loan's closing date. The verification, done prior to closing, is officially known as the 10-day Pre-Closing Verification or "10-day PCV."

To fulfill the Freddie Mac 10-day PCV requirement, lenders have historically had to furnish a verbal, email or written verification of employment (VOE) or pay a third-party service provider for an electronic VOE report. Now, with the latest enhancement to AIM, lenders can automatically satisfy the 10-day PCV requirement using account or payroll data using FormFree's AccountChek.

Automation of the 10-day PCV using account data is available to all Freddie Mac clients effective June 1. Freddie Mac describes the service as "an improved way to assess borrower employment" that offers superior speed, cost and fraud resistance compared to alternatives.

"Verifying a loan applicant's employment in the runup to the loan closing protects lenders, investors and borrowers alike. But the process can be time-consuming and expensive, and it's only gotten worse with so many Americans working remotely," said FormFree Chief Customer Officer Christy Moss. "The Work Number is expensive. Manual employment verification is time-consuming. Using direct-source asset data to fulfill the 10-day PCV is an economical and efficient solution, and it couldn't come at a better time for an industry that is losing sleep over razor-thin margins."

AccountChek streamlines the mortgage process by empowering borrowers to share their asset and payroll data electronically in an underwriter-friendly format lenders can use to assess asset, income, and employment in seconds. By leveraging a business-applicable refresh period, lenders that use AccountChek for a loan applicant's initial employment verification will be able to generate the VOE report within 10 days of closing.

For more information, visit https://formfree.com/pre-closing-verification.

About FormFree:

As the industry's go-to provider for direct-source VOA and VOI/E data, FormFree® helps lenders understand credit risk like never before. Our patented AccountChek® and Passport® products open doors to more inclusive credit decisioning by revealing each customer's true ability to pay (ATP®). We have completed over $3 trillion in loan verifications that help lenders lower operating costs while improving the borrower experience. For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

FormFree® today announced that its AccountChek® digital asset verification service supports a new enhancement to Freddie Mac's Loan Product Advisor® (LPASM) asset and income modeler (AIM) solution that makes assessment of borrower employment easier, faster, less expensive and more fraud-resistant.

Related link: https://www.formfree.com/

FormFree opens registration to its third annual Heroes Golf Classic 2022 benefiting the American Red Cross of Northeast Georgia

ATHENS, Ga. /ScoopCloud/ -- FormFree® today announced it has opened registration to the organization's third annual Heroes Golf Classic, which will be held on September 9, 2022, at Lanier Islands Legacy Golf Course in Buford, Georgia. All proceeds from the event will be donated to the American Red Cross of Northeast Georgia, a 501(c)(3) nonprofit organization that provides emergency assistance and preparedness education to communities affected by disaster.

FormFree invites companies and individuals to participate in the Luau on the Lake themed charity golf tournament by registering to play or sponsoring the event. Bronze, Silver, Gold and Platinum sponsorships are available in addition to two new interactive sponsorship opportunities. The Power Red premier hole sponsorship, named to honor the life-saving impact of blood donations, features a golf cannon that allows players to launch balls up to 300 yards on a Par 3 hole. The Pillowcase Hole premier sponsorship, named for the Red Cross Pillowcase Preparedness Program, is led by a golf professional who will make the first shot, setting golfers up to make a Par 5 hole in two shots.

"When natural disasters or other emergencies threaten the safety of our community, the Red Cross of Northeast Georgia is there to help," said FormFree Founder and CEO Brent Chandler. "The FormFree team and I are honored to dedicate our time, money and effort to help support this life-saving work."

Located less than an hour north of Atlanta and situated along the shores of Lake Lanier, the award-winning Lanier Islands Legacy Golf Course features 18 holes designed to delight golf enthusiasts. Charming, tranquil and rich with wildlife, the course is distinguished by its exceptional quality and commitment to service.

The 2021 Heroes Golf Classic brought together more than 100 golfers and volunteers at the Château Élan Winery and Resort in Braselton, Georgia. The event raised $57,030 to benefit Red Cross-sponsored disaster relief services, blood drives and educational programs. This year, FormFree has set a fundraising goal of $75,000.

"Since FormFree was founded in 2008, it has supported the American Red Cross by participating in blood drives, food drives and fundraisers," said Marlon Trone, executive director of the American Red Cross of Northeast Georgia. "Now over a decade later, FormFree is one of our most cherished supporters. We are grateful for their partnership and look forward to continuing our work together."

The American Red Cross of Northeast Georgia provides direct service to 23 Georgia counties by supporting the collection, testing and distribution of blood and blood components in the region, providing emergency resources for military families, facilitating lifesaving training and helping communities impacted by disasters. FormFree CEO Brent Chandler joined the organization's board of directors in 2017, and FormFree was named the Northeast Georgia chapter's 2021 Corporate Blood Sponsor of the Year.

To register for FormFree's third annual Heroes Golf Classic, visit https://HeroesClassic22.givesmart.com.

Those who are unable to attend the tournament can support the American Red Cross of Northeast Georgia's humanitarian work by making a donation at https://www.redcross.org/donate/donation.html/.

About FormFree:

As the industry's go-to provider for direct-source VOA and VOI/E data, FormFree® helps lenders understand credit risk like never before. Our patented AccountChek® and Passport® products open doors to more inclusive credit decisioning by revealing each customer's true ability to pay (ATP®). We have completed over $3 trillion in loan verifications that help lenders lower operating costs while improving the borrower experience.

For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

FormFree today announced it has opened registration to the organization's third annual Heroes Golf Classic, which will be held on September 9, 2022, at Lanier Islands Legacy Golf Course in Buford, Georgia. All proceeds from the event will be donated to the American Red Cross of Northeast Georgia, a 501(c)(3) nonprofit organization that provides emergency assistance and preparedness education to communities affected by disaster.

Related link: https://www.formfree.com/

FormFree’s Christy Moss recognized by the Mortgage Bankers Association for outstanding contributions in mortgage technology

ATHENS, Ga. /ScoopCloud/ -- FormFree® today announced that the Mortgage Bankers Association (MBA) has named FormFree Chief Customer Officer Christy Moss, CMB, a 2022 Tech All-Star. Since 2002, the Tech All-Star Awards have honored leaders who have made outstanding contributions to mortgage technology.

Moss was recognized for her career commitment to driving digital transformation in mortgage lending. A 30-year veteran of the mortgage industry, Moss got her start holding advanced positions at financial institutions including CitiMortgage, Wachovia and GE Capital Mortgage Services. During her subsequent 11-year tenure at Fannie Mae, Moss evangelized business initiatives beneficial to the post-recession mortgage lending ecosystem that focused on driving lender and partner adoption of technologies. Now, as CCO at FormFree, Moss is helping build a more inclusive credit decisioning landscape with AccountChek's automated verification of direct-source asset, income and employment data.

"It is an incredible honor to be recognized by the MBA, the leading organization for mortgage professionals, for my contributions toward the digital transformation of mortgage lending," said Moss. "Going forward, I will continue to uplift FormFree's creative thinkers, groundbreaking solutions and business partnerships to create a safer, easier and more transparent mortgage experience for all."

"Christy is instrumental in helping FormFree deliver a simplified loan application experience, improve loan officer productivity and reduce loan cycle times. I feel incredibly fortunate to have her as a driving force behind FormFree's mission to transform mortgage lending into an easy, stress-free digital experience," said FormFree Founder and CEO Brent Chandler. "Her passion coupled with her wealth of experience driving innovation make her well deserving of recognition as a Tech All-Star."

This award is the latest of a number of prestigious accolades under Moss' belt. In the past year alone, Moss was named a Mortgage Star by Mortgage Women Magazine and a Housing Industry Icon by Mortgage Professional America. Moss has also been honored in NEXT Mortgage Events' Powerhouse Awards program.

The 2022 Tech All-Star Awards were presented to honorees at the MBA Technology Solutions Conference & Expo in Las Vegas on April 12.

About FormFree®

As the industry's go-to provider for direct-source VOA and VOI/E data, FormFree helps lenders understand credit risk like never before. Our patented AccountChek® and Passport® products open doors to more inclusive credit decisioning by revealing each customer's true ability to pay (ATP®). We have completed over $3 trillion in loan verifications that help lenders lower operating costs while improving the borrower experience. For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

FormFree® today announced that the Mortgage Bankers Association (MBA) has named FormFree Chief Customer Officer Christy Moss, CMB, a 2022 Tech All-Star. Since 2002, the Tech All-Star Awards have honored leaders who have made outstanding contributions to mortgage technology.

Related link: https://www.formfree.com/

FormFree and Take3Tech integration brings AccountChek asset, income and employment verification to the LoanMAPS mortgage technology platform

ATHENS, Ga. /ScoopCloud/ -- FormFree® today announced it has partnered with Take Three Technologies (Take3Tech) to make its AccountChek® automated asset, income, and employment verification solutions available within LoanMAPS™, an all-in-one loan origination platform that encompasses a loan origination system (LOS), point-of-sale system (POS), customer relationship management system (CRM), compliance monitoring and report generation.

The integration enables loan originators to text or email borrowers a request to electronically verify asset, income and employment data without leaving the LoanMAPS user experience. Once borrower permission is granted, AccountChek uses securely encrypted, direct-source data to automatically populate underwriter-friendly verification of asset (VOA) and verification of income/employment (VOIE) reports, which are made available within LoanMAPS.

"We are proud to introduce AccountChek as a LoanMAPS integration partner. Our partnership enables lenders to provide a streamlined verification experience while reducing loan processing and underwriting times as well as fraud risk," said Take3Tech CEO Anita Padilla-Fitzgerald. "We look forward to helping lenders empower consumers with the speed and convenience of electronic data verification."

"FormFree is on a mission to make it easy for mortgage lenders to assess borrowers' ability to pay mortgage loans using high-fidelity, direct-source consumer data," said FormFree CEO and Founder Brent Chandler. "It is a pleasure to partner with Take3Tech to make the benefits of AccountChek available to more mortgage lenders and consumers."

Lenders interested in learning more about the Take3Tech and AccountChek integration should visit FormFree at booth #612 or set up a meeting with Take3Tech at the Mortgage Bankers Association (MBA) Technology Solutions Conference & Expo 2022 taking place April 11-14 at the Bellagio Hotel & Casino in Las Vegas.

About FormFree®:

As the industry's go-to provider for direct-source VOA and VOI/E data, FormFree helps lenders understand credit risk like never before. Our patented AccountChek® and Passport® products open doors to more inclusive credit decisioning by revealing each customer's true ability to pay (ATP®). We have completed over $3 trillion in loan verifications that help lenders lower operating costs while improving the borrower experience. For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

About Take Three Technologies:

Take Three Technologies developed LoanMAPS, a cloud-based and fully-integrated loan origination platform. With LoanMAPS, you can replace your current LOS, CRM, POS, and Report Generator with one easy-to-use solution that covers of all of your mortgage banking technology needs. From client management and origination to processing and closing, LoanMAPS is here for you with easy implementation and training at your fingertips. Reduce your cost to close and increase your productivity with LoanMAPS today. For more information, visit the company's website https://welcome.loanmaps.com/.

FormFree® today announced it has partnered with Take Three Technologies (Take3Tech) to make its AccountChek® automated asset, income, and employment verification solutions available within LoanMAPS™, an all-in-one loan origination platform that encompasses a loan origination system (LOS), point-of-sale system (POS), customer relationship management system (CRM), compliance monitoring and report generation.

Related link: https://www.formfree.com/

FormFree grows executive team, appoints Eric Lapin chief strategy officer

ATHENS, Ga. /ScoopCloud/ -- FormFree® today announced that it has appointed Eric Lapin to the role of chief strategy officer (CSO). In this position, Lapin will leverage his more than 25 years' experience in leadership roles at marquee mortgage technology firms and financial institutions to steer the strategic vision and partnerships driving FormFree's growth.

Prior to joining FormFree, Lapin served as first vice president of corporate development, national agency services, at Old Republic Title, where he spearheaded the structuring of new solutions, corporate alliance building, and lender and agency business development. Before that, he held vice president and managing director positions at banner housing fintechs and financial institutions including Altisource, Black Knight, First American and Credit Suisse.

As CSO, Lapin will strategically identify and execute growth opportunities at FormFree. His responsibilities will include monitoring the execution of business initiatives, identifying key capital projects, driving strategic partnership opportunities and overseeing communications and marketing.

"My long-standing passion for helping lenders leverage technology to create a better mortgage experience has made this next step in my career an easy one," said Lapin. "In my new role as CSO, I look forward to supporting FormFree's vision of transforming the mortgage industry with innovative solutions designed to improve lender operations and expand consumer access to sustainable credit."

"Eric brings a wealth of experience and strategic know-how to the FormFree team, which he has acquired through decades of experience gaining mastery knowledge of mortgage lending and the technology ecosystem that powers it," said FormFree Founder and CEO Brent Chandler. "As FormFree continues to grow, Eric will play a central role in how our suite of revolutionary digital products is able to impact the housing finance industry and beyond."

Lapin is the second addition to FormFree's executive team in the last month, following FormFree's appointment of Patrick Rutherford, former finance executive at Intercontinental Exchange, as chief financial officer (CFO).

About FormFree®

As the industry's go-to provider for direct-source VOA and VOI/E data, FormFree helps lenders understand credit risk like never before. Our patented AccountChek® and Passport® products open doors to more inclusive credit decisioning by revealing each customer's true ability to pay (ATP®). We have completed over $3 trillion in loan verifications that help lenders lower operating costs while improving the borrower experience.

For more information, visit https://www.formfree.com/

Follow FormFree on LinkedIn: https://www.linkedin.com/company/formfree/

FormFree® today announced that it has appointed Eric Lapin to the role of chief strategy officer (CSO). In this position, Lapin will leverage his more than 25 years' experience in leadership roles at marquee mortgage technology firms and financial institutions to steer the strategic vision and partnerships driving FormFree's growth.

Related link: https://www.formfree.com/

George Mason Mortgage selects FormFree AccountChek to streamline its verification of borrower assets, income and employment

ATHENS, Ga. /ScoopCloud/ -- FormFree® today announced that Washington, D.C.-based George Mason Mortgage (GMM) has selected AccountChek® as the regional lender's exclusive provider of automated asset, income and employment verification services. GMM will use AccountChek to simplify the loan application experience for borrowers, improve productivity for its team of 120 mortgage loan officers and reduce loan cycle times.

How It Works

A seamless integration between FormFree and GMM's mortgage point-of-sale software makes it easy for loan teams to order AccountChek verification of asset (VOA) and verification of income/employment (VOIE) reports with just a few clicks. Instead of manually gathering bank statements and pay stubs and submitting them to GMM, loan applicants can use AccountChek to digitally verify assets, income and employment in seconds using high-fidelity data and documentation sourced directly from financial institutions and payroll providers. The information collected by AccountChek is then automatically mapped to the Form 1003 Universal Residential Loan Application in GMM's loan origination software, eliminating the time and risk associated with manual data entry.

Because FormFree is an authorized asset verification report supplier for Fannie Mae's Desktop Underwriter® (DU®) validation service and Freddie Mac's Loan Product Advisor® (LPASM) asset and income modeler (AIM) solution, GMM receives freedom from representations and warranties for certain validated loan components, resulting in greater certainty when selling loans on the secondary market.

Early Results

Since rolling out AccountChek enterprise-wide at the beginning of the year, GMM has seen an eight-fold uptick in orders for automated VOA and VOIE. According to SVP of Information Systems Margie Ambrosio, AccountChek is helping the lender deliver a better borrower experience and compressing the time required for loans to progress from application to closing to investor purchase.

"Our borrowers wanted an easier way to document their ability to pay," said GMM SVP of Information Systems Margie Ambrosio. "AccountChek combines asset, income and employment verification into one easy step for borrowers and gives us an underwriter-ready report that can be refreshed at any point between initial application and closing. Eliminating repetitive requests for paper documentation is already improving efficiency in our loan origination process, reducing per-loan costs and streamlining vendor due diligence - not to mention delighting our customers."

A wholly owned subsidiary of United Bank, George Mason Mortgage is licensed to serve mortgage customers throughout the United States and maintains retail branches in 12 states plus the District of Columbia.

About FormFree®

As the industry's go-to provider for direct-source VOA and VOI/E data, FormFree helps lenders understand credit risk like never before. Our patented AccountChek® and Passport® products open doors to more inclusive credit decisioning by revealing each customer's true ability to pay (ATP®). We have completed over $3 trillion in loan verifications that help lenders lower operating costs while improving the borrower experience. For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

About George Mason Mortgage, LLC

Based in Fairfax, Virginia, George Mason Mortgage was founded in 1980 and is a wholly owned subsidiary of United Bank. We have been consistently ranked as a top lender in the mid-Atlantic region and have expanded into various markets with retail offices throughout Virginia, Washington, D.C., Maryland, North Carolina and South Carolina. We understand the importance of homeownership and are fortunate to have a superior team of in-house underwriters, processors and closers to provide you with the kind of efficient, personalized service you can only get from a local lender. Our goal is to provide easy and comprehensive solutions that suit the individual needs of our borrowers. For more information, visit https://www.gmmllc.com/.

FormFree® today announced that Washington, D.C.-based George Mason Mortgage (GMM) has selected AccountChek® as the regional lender's exclusive provider of automated asset, income and employment verification services. GMM will use AccountChek to simplify the loan application experience for borrowers, improve productivity for its team of 120 mortgage loan officers and reduce loan cycle times.

Related link: https://www.formfree.com/

Mary Costello joins FormFree team as director of vendor management, risk and compliance

ATHENS, Ga. /ScoopCloud/ -- FormFree® today announced that it has welcomed 17-year finance industry veteran Mary Costello to its team as director of vendor management, risk and compliance. In this role, Costello will support FormFree's audit, risk and compliance efforts across the management of internal and external vendor, lender and integration partnerships.

Prior to joining FormFree, Costello served 14 years at Veterans United Home Loans, where she developed, launched and led the enterprise-wide vendor management program for the largest U.S. Department of Veterans Affairs (VA) purchase lender. Costello also served as Veterans United Home Loans' go-to vendor compliance manager - diligently mitigating third-party risk through careful contract analyses, strong pricing negotiations and frequent due diligence collaborations.

"We are incredibly lucky to bring Mary and her wealth of vendor management expertise to the FormFree fold," said FormFree Founder and CEO Brent Chandler. "Mary has a deep background in managing risk across a complex portfolio of critical vendor relationships. I'm confident that she will be an incredible asset as FormFree continues to grow its vendor network."

As Director of Vendor Management, Risk and Compliance at FormFree, Costello will manage FormFree's internal and external vendor relationships with support from compliance leadership, internal stakeholders and external auditors. She will collaborate across FormFree's network to mitigate vendor risk by ensuring compliance with regulatory and ethical requirements.

"I was drawn to FormFree because I identify with the company's mission of driving disruptive change in the mortgage industry," said Costello. "I look forward to nurturing FormFree's numerous vendor relationships, promoting its groundbreaking mortgage products and thinking outside the box to leverage these relationships and products to facilitate a world-class lending experience."

About FormFree®

As the industry's go-to provider for direct-source VOA and VOI/E data, FormFree helps lenders understand credit risk like never before. Our patented AccountChek® and Passport® products open doors to more inclusive credit decisioning by revealing each customer's true ability to pay (ATP®). We have completed over $3 trillion in loan verifications that help lenders lower operating costs while improving the borrower experience.

For more information, visit https://www.formfree.com/

Follow FormFree on LinkedIn: https://www.linkedin.com/company/formfree/

FormFree today announced that it has welcomed 17-year finance industry veteran Mary Costello to its team as director of vendor management, risk and compliance. In this role, Costello will support FormFree's audit, risk and compliance efforts across the management of internal and external vendor, lender and integration partnerships.

Related link: https://www.formfree.com/