ATLANTA, Ga., June 27, 2017 (SEND2PRESS NEWSWIRE) — FormFree® today announced that Guaranteed Rate, Inc. (“Guaranteed Rate”), one of the nation’s largest independent retail mortgage companies, has selected AccountChek® by FormFree for automated asset verification.

FormFree and Guaranteed Rate Inc
The partnership enables loan officers at Guaranteed Rate to offer their clients a faster, safer and more accurate alternative to scanning and uploading asset statements. AccountChek’s intuitive app lets borrowers securely link to their banking, retirement and investment accounts and share the asset and deposit data needed to qualify for a loan.

“AccountChek saves borrowers the extra 20 minutes it takes to collect and upload paper statements, but it also does much more than that — it streamlines the entire loan process,” said Nikolaos Athanasiou, chief operating officer at Guaranteed Rate.

“No matter what financial institutions a borrower uses, we receive one standardized asset report in the GSE-required format. This speeds up our underwriting review and gives us greater confidence in our ability to sell the loan,” Athanasiou continued. “As a result, we’re moving borrowers from application to closing on average five to 10 days faster.”

“AccountChek helps lenders achieve reps and warrants relief from Fannie Mae while delivering a more modern lending experience to borrowers,” said FormFree Founder and President Brent Chandler. “We’re seeing outstanding results like those Guaranteed Rate has attained — up to a 10-day reduction in time-to-close — across our customer base and corroborated by Fannie’s Day 1 Certainty team.”

AccountChek was the first asset verification provider approved for participation in Fannie Mae’s Day 1 Certainty™ initiative, which gives lenders who use the Desktop Underwriter® (DU®) Validation Service reps and warrants relief for validated loan components.

About FormFree:
Leading lenders trust FormFree’s 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. AccountChek securely delivers automated asset verification data and on-demand reports to more than 350 leading U.S. lenders. A HousingWire TECH100™ company for four consecutive years, FormFree is based in Atlanta, Georgia. For more information, visit http://www.formfree.com.

About Guaranteed Rate:
Guaranteed Rate is the eighth largest retail mortgage lender in the United States. Headquartered in Chicago, the company has approximately 195 offices across the U.S. and Washington, D.C., and is licensed in all 50 states. Since its founding in 2000, Guaranteed Rate has helped hundreds of thousands of homeowners with home purchase loans and refinances and funded nearly $23 billion in loans in 2016 alone.

The company has become the Home Purchase Experts® by introducing the world’s first Digital Mortgage technology and offering low rate, low fee mortgages through an easy-to-understand process and unparalleled customer service. Guaranteed Rate won an American Business Award for its Digital Mortgage technology in 2016, ranked No. 1 in Scotsman Guide’s Top Mortgage Lenders 2016, was chosen Top Lender 2016 by Chicago Agent magazine and made the Chicago Tribune’s Top Workplaces list five of the past six years. Visit https://rate.com for more information.

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News Source: FormFree