Founded in 2008, FormFree is a privately-held provider of cloud-based, mobile-friendly technologies that help financial institutions determine the ability of their customers to pay back loans. In just seconds, FormFree’s solutions collect, analyze and certify the data lenders need to make safer and smarter lending decisions. The company’s customers include mortgage bankers, financial services firms (auto, subprime), credit card companies, payroll service companies and crowd-funding service providers.
The first instant asset verification tool to earn Fannie Mae’s Day One Certainty endorsement, AccountChek transforms the borrower and lender experience and reduces time-to-close by days — sometimes weeks. Faster than gathering paper documents and easy to use on any device, AccountChek significantly streamlines the mortgage underwriting process for both borrowers and lenders, resulting in quicker decisions and higher borrower satisfaction. And because AccountChek removes the opportunity for data tampering or errors, it also produces a more fraud-resistant loan process. AccountChek meets all underwriting requirements for Fannie Mae, Freddie Mac, VA and FHA loans.
Passport builds on the foundation of AccountChek’s automated asset verification system to bundle the critical underwriting pillars of borrower income, identity, asset, employment and credit reporting into one easy verification report. Faster than gathering paper documents and easy to use on any device, Passport significantly streamlines the mortgage underwriting process, giving lenders the comprehensive, detailed analysis they need to assess borrower’s ability to pay, within minutes, paperlessly.
FormFree is the most trusted provider of automated verification services for mortgage lenders. Its products are trusted by thousands of lenders, including 50% of the top 40 mortgage originators. To date, FormFree has accepted more than 1.5 million AccountChek® report orders and verified over $1 trillion in borrower assets.