ATLANTA, Ga., March 22, 2017 (SEND2PRESS NEWSWIRE) — FormFree today announced that cloudvirga(SM), developer of the automated, cloud-based intelligent Mortgage Platform® (iMP), has selected AccountChek™ for automated asset verification. Cloudvirga’s custom integration of AccountChek into the iMP collects borrower account information early in the loan application process and offers a seamless asset verification experience unlike any other mortgage point-of-sale (POS) system in the marketplace today.
“Cloudvirga is re-engineering the mortgage workflow with a relentless focus on increasing efficiency and driving down the cost of lending,” said Kyle Kamrooz, co-founder of cloudvirga. “Our partnership with AccountChek by FormFree exemplifies how cloudvirga delivers on the promise of true automation.”
A next-generation mortgage POS system, the iMP takes consumer empowerment way beyond the typical digital loan application while automating the entire initial disclosures process for loan officers and consumers in all 50 states. The POS gives consumers and loan officers an automated, intuitive and compliant workflow while moving many traditional back-office tasks to the front of the loan process.
FormFree’s flagship app, AccountChek allows borrowers to securely link asset and deposit data from virtually any financial institution. Within seconds, lenders receive detailed analysis on the borrower’s ability to repay. Trusted by hundreds of lenders and hundreds of thousands of borrowers, AccountChek was the first provider of asset verification to participate in Fannie Mae’s Day 1 Certainty™ initiative.
“AccountChek is a perfect fit for the intelligent Mortgage Platform, not just because we’re the most trusted name in asset verification, but also because we share cloudvirga’s vision of a more modern and efficient way of lending,” said Brent Chandler, chief executive officer and founder of FormFree. “By not only collecting but applying sophisticated analysis to borrower data, AccountChek completely eliminates the need for back-office verification.”
Cloudvirga is the company behind the cloud-based intelligent Mortgage Platform® (iMP) designed to streamline the mortgage process. The platform is digitizing the mortgage industry by deploying an automated workflow to reduce overall cost, increase transparency and shorten the time it takes to close a loan for both borrowers and lenders. Founded by Bill Dallas, Kyle Kamroo, and Mark Attaway, seasoned financial veterans with a proven track record of building mortgage-related technologies, cloudvirga is disrupting the antiquated mortgage industry.
For more information, visit http://www.cloudvirga.com/ or follow cloudvirga on LinkedIn at https://www.linkedin.com/company-beta/7577062/.
Leading lenders trust Athens, Georgia-based FormFree to deliver automated verification solutions that streamline the loan origination process and provide better intelligence on borrowers’ ability to repay. FormFree’s flagship app, AccountChek™, eliminates the hassle of collecting paper statements from borrowers by using direct-access data untouched by human hands to consolidate, analyze and verify assets. Lender tested and GSE approved, AccountChek securely delivers automated asset verification data and on-demand reports to more than 200 leading U.S. lenders and their millions of customers. FormFree was named one of American Banker magazine’s “Top 10 Tech Companies to Watch” in 2015.
For more information, visit http://www.formfree.com/.
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News Source: FormFree