{"id":121755,"date":"2024-10-25T07:00:03","date_gmt":"2024-10-25T11:00:03","guid":{"rendered":"https:\/\/www.send2press.com\/wire\/?p=121755"},"modified":"2024-10-24T21:12:32","modified_gmt":"2024-10-25T01:12:32","slug":"formfree-announces-enhancements-to-customer-acquisition-marketplace-formfree-exchange","status":"publish","type":"post","link":"https:\/\/www.send2press.com\/wire\/formfree-announces-enhancements-to-customer-acquisition-marketplace-formfree-exchange\/","title":{"rendered":"FormFree announces enhancements to customer acquisition marketplace, FormFree Exchange"},"content":{"rendered":"

ATHENS, Ga., Oct. 25, 2024 (SEND2PRESS NEWSWIRE) — FormFree<\/a>\u00ae, a leader in financial technology since 2007, today announced several enhancements to its customer acquisition marketplace, FormFree Exchange (FFX). Topping the list of enhancements is the auto-matching capability, connecting borrowers and lenders in seconds.<\/p>\n

\"FORMFREE\"
Image caption: FormFree.<\/em><\/p>\n

FFX is the world’s first marketplace that obsesses about consumers and helps lenders and borrowers find the right match. By delivering a 1-to-1 connection and ensuring that consumers have complete control of their data, FFX is compliant with both TCPA and Rule 1033.<\/p>\n

Using FormFree\u2019s Passport, consumers can share all the core financial data required by loan underwriters \u2014 including identity, assets, income, employment, credit history and cash-flow data \u2014 in seconds, which generates a financial identity report and includes a Residual Income Knowledge Index (RIKI). Passport also gives consumers a qualified borrowing power, which provides a realistic estimate of how much they can afford to borrow and repay. In addition to functioning as a stand-alone web application, Passport lives in consumer-facing real estate sites like Realtor.com, resulting in high-intent leads flooding into FFX.<\/p>\n

Lenders in FFX have pre-populated buy boxes with their loan parameters and are automatically and immediately matched with borrowers who fit their buy boxes. Borrowers are shown up to three lender options and choose the one that best fits their needs, ensuring compatibility and increasing application-to-close rates for lenders. The borrower\u2019s personal identifying information stays anonymous during the matching process to remove any possible bias and ensure the lending decision is made solely on the financial identity report.<\/p>\n

\u201cFormFree has set out to enhance the lending experience for lenders and borrowers by making it easier for each to find the right fit,\u201d stated FormFree Founder and CEO Brent Chandler. \u201cAs the TCPA 1-to-1 consent rule goes into effect in a couple of months, lenders will need to adjust their customer acquisition efforts. FFX is already in place, ensuring lenders don’t have to experience a drop in production as they adapt to new regulations.”<\/p>\n

\u201cI grew up in an underserved neighborhood, and FormFree\u2019s mission of uplifting the underserved and unseen borrowers through Passport, RIKI and FFX resonated heavily with me,\u201d said MOR Lending President Roy K. George, CMB. \u201cIn today\u2019s market, there is also a significant credit-invisible population that can repay a loan, and I see FFX as a way to serve those individuals. Our experience with FFX has been very good; we’ve seen a 10-20% lead-to-application rate over the last couple of months. RIKI is a great tool for us because when we see a bank statement verified deal, we know there’s a greater potential for conversion.”<\/p>\n

About FormFree\u00ae<\/strong><\/p>\n

FormFree empowers consumers to understand their ability to pay and share it with lenders like never before. Using FormFree\u2019s Passport app, consumers can share all the core financial data required by loan underwriters \u2014 including identity, assets, income, employment, credit history and cash-flow data \u2014 in seconds. Once consumers are ready to transact, they can anonymously share their data on the FormFree Exchange (FFX) and receive immediate offers from a marketplace of lenders who fully understand their ability to pay, residual income and eligibility for down payment assistance and inclusive lending programs.<\/p>\n

For more information, visit https:\/\/www.formfree.com\/<\/a> or follow FormFree on LinkedIn<\/a>.<\/p>\n

Tags: @RealFormFree #lending #fintech #financialservices #financialinclusion #homebuyers<\/p>\n","protected":false},"excerpt":{"rendered":"

ATHENS, Ga., Oct. 25, 2024 (SEND2PRESS NEWSWIRE) — FormFree®, a leader in financial technology since 2007, today announced several enhancements to its customer acquisition marketplace, FormFree Exchange (FFX). Topping the list of enhancements is the auto-matching capability, connecting borrowers and lenders in seconds.<\/p>\n","protected":false},"author":72,"featured_media":79159,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[39,11,12804,14409,1,38,10711,123,5],"tags":[14977,19627],"class_list":["post-121755","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mortgage-news","category-advertising-marketing-news","category-ap","category-athens-business","category-business-news","category-finance-news","category-fintech","category-georgia-news","category-technology-news","tag-financial-inclusion","tag-formfree-exchange-ffx","has-post-title","has-post-date","no-post-category","no-post-tag","no-post-comment","has-post-author"],"acf":[],"views":3390,"_links":{"self":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts\/121755","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/users\/72"}],"replies":[{"embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/comments?post=121755"}],"version-history":[{"count":4,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts\/121755\/revisions"}],"predecessor-version":[{"id":121760,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts\/121755\/revisions\/121760"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/media\/79159"}],"wp:attachment":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/media?parent=121755"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/categories?post=121755"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/tags?post=121755"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}