{"id":41051,"date":"2018-10-15T14:01:11","date_gmt":"2018-10-15T18:01:11","guid":{"rendered":"https:\/\/www.send2press.com\/wire\/?p=41051"},"modified":"2018-10-15T14:07:58","modified_gmt":"2018-10-15T18:07:58","slug":"formfree-and-freddie-mac-partner-to-automate-income-and-asset-assessment-to-safely-speed-origination-process","status":"publish","type":"post","link":"https:\/\/www.send2press.com\/wire\/formfree-and-freddie-mac-partner-to-automate-income-and-asset-assessment-to-safely-speed-origination-process\/","title":{"rendered":"FormFree and Freddie Mac Partner to Automate Income and Asset Assessment to Safely Speed Origination Process"},"content":{"rendered":"

ATHENS, Ga., Oct. 15, 2018 (SEND2PRESS NEWSWIRE) — Freddie Mac<\/a> has named FormFree\u00ae<\/a> a designated third-party service provider for automated income and asset assessment capabilities. The announcement came as the GSE unveiled new enhancements to Loan Advisor℠ at the Mortgage Bankers Association\u2019s Annual Convention and Expo in Washington, D.C.<\/p>\n

\"FORMFREE\"
\nLoan Advisor is Freddie Mac\u2019s set of integrated software applications designed to take cost out of the origination process and help mortgage lenders acquire relief from certain representations and warranties. By fully automating the assessment of borrower income and assets with data from FormFree and other approved third-party sources, Freddie Mac can offer lenders rep and warranty relief when the data meets its underwriting and eligibility requirements.<\/p>\n

Freddie Mac\u2019s automated asset and income assessment capabilities are currently available in limited release, and the GSE said it plans to make its asset offering broadly available before the end of the year. FormFree direct deposit income assessment capabilities are expected to debut in early 2019. Both capabilities will be accessed through Loan Product Advisor\u00ae, Freddie Mac\u2019s automated underwriting system that is part of Loan Advisor.<\/p>\n

\u201cSpeeding up the origination process by automating the assessment of borrower assets and income is just one way we are giving our clients the Freddie Edge℠,\u201d said Samuel E. Oliver III, Freddie Mac Vice President, Major Project Execution, Single-Family Business. \u201cThrough our partnership with FormFree, we\u2019re helping lenders provide their borrowers with an easier and faster mortgage experience.\u201d<\/p>\n

\u201cThis is a long-anticipated announcement that should excite lenders who are looking to add efficiency and choice to their origination and secondary market workflows,\u201d said Brent Chandler, founder and CEO of FormFree. \u201cAs the industry\u2019s original provider of automated asset and income verification, we are a proud partner in Freddie Mac\u2019s efforts to reimagine the mortgage experience and deliver an origination process that is easier and more efficient for lenders and consumers alike.\u201d<\/p>\n

\u201cThis partnership with FormFree and Freddie Mac is another step toward realizing the true digital mortgage,\u201d said Parvesh Sahi, senior vice president of business development, Ellie Mae. \u201cBy offering asset verification services through our Encompass Lending Platform, we\u2019re maximizing efficiency and adding value for our lenders while streamlining the application process for borrowers.\u201d<\/p>\n

Ellie Mae\u2019s Encompass Consumer Connect™ is among the more than 100 mortgage technology platforms that currently integrate FormFree\u2019s flagship AccountChek asset verification service. FormFree\u2019s end-to-end integration with Encompass Consumer Connect gives lenders a fully streamlined mortgage application and automated validation of asset and income through Ellie Mae\u2019s partnership with Freddie Mac\u2019s Loan Product Advisor.<\/p>\n

About FormFree\u00ae:<\/strong>
\nFormFree is a fintech company whose market-leading AccountChek\u00ae Asset Reports are used by lenders nationwide to verify borrower assets, employment and income in minutes. To date, more than 1,000 U.S. lenders have ordered over 1.25 million AccountChek Asset Reports, delighting their customers with a paperless experience and reducing origination timelines by up to 20 days. FormFree offers automated analysis and standardized delivery to lenders and their investors using a secure ReIssueKey™. A\u00a0HousingWire\u00a0TECH100™ company for four consecutive years, FormFree is based in\u00a0Athens, Georgia. For more information, visit\u00a0https:\/\/www.formfree.com<\/a>\u00a0or\u00a0follow FormFree on LinkedIn<\/a>.<\/p>\n

About Freddie Mac:<\/strong>
\nFreddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we\u2019ve made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders, investors and taxpayers. Learn more at FreddieMac.com<\/a>, Twitter @FreddieMac and Freddie Mac\u2019s blog FreddieMac.com\/blog<\/a>.<\/p>\n

Twitter: #FormFree @FreddieMac #digitalmortgage #MBAAnnual18 #LoanAdvisor #assetverification<\/p>\n

* LOGO link for Media: Send2Press.com\/300dpi\/17-0926s2p-formfree-300dpi.jpg<\/p>\n","protected":false},"excerpt":{"rendered":"

ATHENS, Ga., Oct. 15, 2018 (SEND2PRESS NEWSWIRE) — Freddie Mac has named FormFree a designated third-party service provider for automated income and asset assessment capabilities. The announcement came as the GSE unveiled new enhancements to Loan Advisor(SM) at the Mortgage Bankers Association’s Annual Convention and Expo in Washington, D.C.<\/p>\n","protected":false},"author":72,"featured_media":31854,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[39,755,1,38,123,559,6,5],"tags":[205,8952,4700],"class_list":["post-41051","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-products-news","category-software-news","category-technology-news","tag-depthpr","tag-freddie-mac","tag-mba-annual-conference","has-post-title","has-post-date","no-post-category","no-post-tag","no-post-comment","has-post-author"],"acf":[],"views":6140,"_links":{"self":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts\/41051","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=41051"}],"version-history":[{"count":0,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts\/41051\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/media\/31854"}],"wp:attachment":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/media?parent=41051"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/categories?post=41051"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/tags?post=41051"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}