ATHENS, Ga., Jan. 14, 2020 (SEND2PRESS NEWSWIRE) — FormFree® rounded out 2019 with a 65 percent increase in total orders for its AccountChek® Asset Report and three-in-one Passport™ Report over the previous year. The surge in adoption of the company’s market-leading products, which allow lenders to verify borrower asset, income and employment information, caps a long list of product milestones.
“Last year the number of borrower verification reports generated by FormFree ballooned to 1.9 million,” said FormFree Founder and CEO Brent Chandler. “That figure accounts for nearly half of the 3.7 million reports generated over the lifetime of the FormFree. As the only company already offering combined asset, income and employment reporting, we expect the number of verification reports generated by our system to rise sharply in 2020.”
FormFree’s borrower verification products, already the most advanced in the industry, were bolstered in 2019 through partnerships and product updates that enhance lender speed, pull-through rates and security. In July, FormFree announced a partnership with FundingShield that provides added protection to Passport customers’ closing fund transfers. In October, FormFree partnered with LexisNexis Risk Solutions to help lenders intelligently pre-fill the Universal Residential Loan Application (Form 65/1003) for applicants and made paystub collection and verification available through Passport.
Earlier in the year, FormFree joined the Financial Data Exchange (FDX) to support information sharing and security standards for the financial sector and filed a patent application describing the company’s proprietary method for verifying loan applicants’ employment and income history.
In 2019, FormFree received recognition from industry publications for its in-house talent, workplace culture and technological impact on the mortgage industry. Founder and CEO Brent Chandler was named to HousingWire’s (HW) inaugural list of Tech Trendsetters. Brian Francis, chief technology officer, received the HW Insider Award. Both FormFree and board member Faith Schwartz were finalists for Mortgage Professional America (MPA) Power Originator Awards. And as an organization, FormFree was recognized for the fourth consecutive year as a HW Tech100 company and by MPA as a Top Mortgage Workplace.
FormFree® is a market-leading fintech company whose revolutionary products AccountChek® and Passport™ are changing the credit decisioning landscape and encouraging lenders nationwide to incorporate a more holistic view of each borrower’s financial DNA. To date, thousands of U.S. lenders and brokers have ordered millions of FormFree’s patented verification reports representing over a trillion dollars in loan verifications.
FormFree delights borrowers and lenders with a paperless experience, reduces origination timelines by up to 20 days and offers automated analysis and standardized delivery to lenders and investors using a secure ReIssueKey™. A HousingWire TECH100™ company for four consecutive years, FormFree is based in Athens, Georgia.
Twitter: @RealFormFree #digitalmortgage
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News Source: FormFree
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