Tag Archives: Loan Product Advisor

Informative Research’s AccountChek expands payroll provider network for mortgage lenders assessing income through Freddie Mac’s AIM

GARDEN GROVE, Calif., Feb. 20, 2025 (SEND2PRESS NEWSWIRE) — Informative Research, a premier technology provider delivering data-driven credit and verification solutions to the lending community, announced an enhancement to its integration with Freddie Mac’s Loan Product Advisor® (LPASM) asset and income modeler (AIM). This enhancement enables LPA to assess income and employment for eligibility of representation and warranty relief for lenders using AccountChek® for automated verification of income and employment (VOIE) across a broad range of supported payroll providers. As an approved third-party service provider, AccountChek enables lenders to obtain and transmit to LPA borrower data required for LPA’s automated assessment of income, assets and employment verification.

Informative Research
Image caption: Informative Research.

“AccountChek’s enhanced integration with AIM represents a major step forward for both mortgage lenders and borrowers,” said Brian Francis, Head of AccountChek at Informative Research. “By expanding payroll provider access, we’re helping lenders reduce risks, enhance loan quality and accelerate loan processing times, all while providing borrowers faster approvals, expanded access to credit and reduced documentation burdens.”

AIM automates the assessment of mortgage borrower assets, income and employment data through designated third-party service providers like AccountChek. Using consumer-permissioned technology to obtain direct-to-source data improves verification accuracy and efficiency, enabling lenders to streamline loan origination workflows, accelerate overall processing time and make better-informed lending decisions faster.

“We’re truly excited about our collaboration with Informative Research and this opportunity to expand access to LPA’s capabilities,” said Daniel Miller, Freddie Mac Single-Family Director of Strategic Technology Partnerships. “Informative Research’s approach to solving industry challenges aligns with Freddie Mac’s efforts to help lenders drive down the cost to originate, elevate loan quality and make homeownership more achievable for all.”

About Informative Research:

Informative Research, a Stewart company, is a premier technology provider delivering data-driven credit and verification solutions to the lending community. The solutions provider currently serves mortgage companies, banks, and lenders throughout the United States. The company is recognized for streamlining the loan process with its straightforward service model, progressive solutions, and cutting-edge technology. To learn more, visit https://www.informativeresearch.com/.

NEWS SOURCE: Informative Research


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FormFree’s AccountChek joins forces with Freddie Mac for industry-first automated assessment of direct deposit income

ATHENS, Ga. /ScoopCloud/ -- FormFree® today announced that its AccountChek® digital asset verification service will support a first-of-its-kind solution from Freddie Mac that allows mortgage lenders to assess a prospective homebuyer's income using direct deposit data. Available to mortgage lenders nationwide, Freddie Mac's Loan Product Advisor® (LPASM) asset and income modeler (AIM) solution fulfills mortgage verification of assets (VOA) and verification of income (VOI) requirements.

FormFree's AccountChek leverages tens of thousands of data connections with more than 16,000 financial institutions to instantly deliver consumer-permissioned asset and income verification all in one report. With an estimated 93% or more of U.S. workers paid via direct deposit, collapsing asset and income verification into a single, paperless step provides cost-saving efficiencies for lenders, reduces the risk of fraud and manual errors and helps borrowers get approved for - and into - their homes more quickly.

"We have long contended that a consumer's data - in particular, asset data sourced directly from financial institutions and extending over 12 months or more - holds the key to better understanding consumers' financial DNA, streamlining lenders' underwriting processes and driving inclusion in homeownership," said FormFree Founder and CEO Brent Chandler. "This latest enhancement to Freddie Mac's AIM brings lenders money-saving process efficiencies by making income assessment instantaneous."

"We're pleased to have FormFree's AccountChek product support this game-changing enhancement to our AIM offering," said Christina Randolph, Director, Strategic Technology Partnerships at Freddie Mac. "Partnering with FormFree has helped unlock more consumer financial data that allows us to uphold our risk management standards while streamlining the mortgage process and increasing homeownership opportunities."

A March Freddie Mac Single-Family Seller/Servicer Guide Bulletin will provide lenders additional requirements and information about when the solution will be available. Once Freddie Mac releases AIM for income using direct deposits, it will be available to lenders using LPA v5.06 or higher.

To learn more, visit https://www.formfree.com/direct-deposit-income/.

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®). 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.

Twitter: @RealFormFree @FreddieMac #mortgage #fintech #automation #homeownership

RELATED LINKS:

https://freddiemac.gcs-web.com/news-releases/news-release-details/freddie-mac-announces-first-automated-assessment-direct-deposit

https://www.linkedin.com/company/formfree/

News from FormFree

FormFree® today announced that its AccountChek® digital asset verification service will support a first-of-its-kind solution from Freddie Mac that allows mortgage lenders to assess a prospective homebuyer's income using direct deposit data. Available to mortgage lenders nationwide, Freddie Mac's Loan Product Advisor® (LPASM) asset and income modeler (AIM) solution fulfills mortgage verification of assets (VOA) and verification of income (VOI) requirements.

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

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