ATHENS, Ga., Sept. 26, 2017 (SEND2PRESS NEWSWIRE) — FormFree\u00ae today announced the impending launch of AccountChek Plus\u2122, a new tool for lenders that combines the features of AccountChek\u00ae, the nation\u2019s most trusted asset verification app, with\u00a0liens\u00a0and civil judgments data from LexisNexis\u00ae Risk Solutions.\u00a0By giving lenders a more complete\u00a0picture of borrower ability-to-pay before loans go to underwriting, AccountChek\u00a0Plus cuts costs, reduces risk and\u00a0empowers better lending\u00a0decisions.<\/p>\n
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\nUnderwriters of mortgage loans and other types of financing use liens and judgments data to assess consumers\u2019 payment history and ability to pay future debts. Historically, lenders have sourced this data from consumer credit reports furnished by the nation\u2019s top credit reporting agencies, but on July 1, Equifax, Experian and TransUnion eliminated a significant portion of all liens and judgments data from their reporting.<\/p>\n
LexisNexis RiskView\u2122 Liens & Judgments Report, available to FormFree customers as part of the new AccountChek Plus service, fills the liens and judgments data gap. The report, which is Fair Credit Reporting Act (FCRA) compliant, employs industry-leading technology and hundreds of the most current data points available to ensure more than 99 percent precision in linking debts with the correct consumer.<\/p>\n
The liens and civil judgments data is delivered along with the award-winning AccountChek asset verification report. AccountChek\u00a0by FormFree is\u00a0the new standard in automated asset verification\u00a0and\u00a0was the first such service selected for Fannie Mae\u2019s Day 1 Certainty\u2122 initiative.<\/p>\n
Secure and simple to use, AccountChek is a digital app that eliminates\u00a0the hassle of\u00a0gathering documents for loans by letting consumers\u00a0link their online banking, retirement and investment accounts\u00a0and\u00a0transmit\u00a0directly to their lenders\u00a0the\u00a0information\u00a0needed\u00a0to verify\u00a0loan eligibility.\u00a0The result is an easier, safer\u00a0and more accurate\u00a0process that closes\u00a0loans\u00a0up to\u00a015 days faster.<\/p>\n
\u201cLenders rely on liens and judgments data to limit their risk exposure and meet investor guidelines,\u201d said FormFree CEO Brent Chandler. \u201cWe are impressed with the exceptional reliability of LexisNexis RiskView report and believe lenders will find added value in accessing liens and judgments data early in the application process and bundled with a standardized asset report.\u201d<\/p>\n
\u201cOur research shows that consumers with liens or judgments are twice as likely to default on a loan as those with no outstanding liens or judgments,\u201d said Tim Coyle, senior director of real estate and mortgage at LexisNexis Risk Solutions. \u201cThere is no question that lenders have a business need to fill this information gap, and we are pleased to make this data available through AccountChek Plus by FormFree.\u201d<\/p>\n
About FormFree®:<\/strong> About LexisNexis Risk Solutions:<\/strong> IMAGES FOR MEDIA: ATHENS, Ga., Sept. 26, 2017 (SEND2PRESS NEWSWIRE) — FormFree(R) today announced the impending launch of AccountChek Plus(TM), a new tool for lenders that combines the features of AccountChek(R), the nation’s most trusted asset verification app, with liens and civil judgments data from LexisNexis(R) Risk Solutions. By giving lenders a more complete picture of borrower ability-to-pay before loans go to underwriting, AccountChek Plus cuts costs, reduces risk and empowers better lending decisions.<\/p>\n","protected":false},"author":72,"featured_media":29344,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[39,755,1,38,123,6,5],"tags":[205,927,9354],"class_list":["post-29345","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mortgage-news","category-alliances-news","category-business-news","category-finance-news","category-georgia-news","category-software-news","category-technology-news","tag-depthpr","tag-lexisnexis-risk-solutions","tag-relx-group","has-post-title","has-post-date","no-post-category","no-post-tag","no-post-comment","has-post-author"],"acf":[],"views":9328,"_links":{"self":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts\/29345","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=29345"}],"version-history":[{"count":0,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts\/29345\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/media\/29344"}],"wp:attachment":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/media?parent=29345"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/categories?post=29345"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/tags?post=29345"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nLeading lenders trust FormFree\u2019s automated verification solutions that streamline the loan origination process and provide better intelligence on borrowers\u2019 ability to pay. FormFree\u2019s flagship app, AccountChek\u00ae, 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 has securely delivered automated asset verification data and on-demand reports to more than 1,000 leading U.S. lenders. A HousingWire<\/em>TECH100\u2122 company for four consecutive years, FormFree is based in Athens, Georgia. For more information, visit http:\/\/www.formfree.com\/<\/a> or follow FormFree on LinkedIn<\/a>.<\/p>\n
\nAt LexisNexis® Risk Solutions, we believe in the power of data and advanced analytics for better risk management. With more than 40 years of expertise, we are the trusted data analytics provider for organizations seeking actionable insights to manage risks and improve results while upholding the highest standards for security and privacy. Headquartered in metro Atlanta, LexisNexis Risk Solutions serves customers in more than 100 countries and is part of RELX Group, a global provider of information and analytics for professional and business customers across industries. For more information, please visit http:\/\/www.lexisnexis.com\/risk<\/a>.<\/p>\n
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