{"id":64602,"date":"2020-10-13T15:42:38","date_gmt":"2020-10-13T19:42:38","guid":{"rendered":"https:\/\/www.send2press.com\/wire\/?p=64602"},"modified":"2020-10-13T15:42:38","modified_gmt":"2020-10-13T19:42:38","slug":"formfree-receives-us-patent-for-its-ground-breaking-approach-to-credit-decisioning","status":"publish","type":"post","link":"https:\/\/www.send2press.com\/wire\/formfree-receives-us-patent-for-its-ground-breaking-approach-to-credit-decisioning\/","title":{"rendered":"FormFree Receives US Patent for Its Ground-Breaking Approach to Credit Decisioning"},"content":{"rendered":"

ATHENS, Ga., Oct. 13, 2020 (SEND2PRESS NEWSWIRE) — FormFree<\/a>\u00ae has been granted Patent Number 10,769,723 for its proprietary \u2018Systems and Methods for Electronic Account Certification and Enhanced Credit Reporting\u2019 by the United States Patent and Trademark Office. The patent is expected to cover FormFree\u2019s technology, which analyzes direct-source financial data to determine a consumer’s ability to repay any type of loan, offers a more accurate and comprehensive measurement of ability to pay (ATP) than traditional credit scoring.<\/p>\n

\"FORMFREE\"<\/em><\/p>\n

The announcement underscores FormFree’s focus on creating technologies that enable a more financially inclusive U.S. economy.<\/p>\n

\u201cThis patent is another important milestone in strengthening our intellectual property position. Nearly 50 million Americans \u2014 disproportionately including the poor and minorities \u2014 lack a credit score and cannot obtain mortgages or other lending products,\u201d said FormFree Founder and CEO Brent Chandler. “FormFree understands that every consumer has a quantifiable ability to pay, not just those with a 720 or higher credit score. We are reimagining credit scoring with a new framework that provides a more complete understanding of what a person can actually afford than merely reviewing their repayment history.\u201d<\/p>\n

Added Chandler, \u201cOur multi-dimensional analysis of ability to pay allows lenders to instantaneously understand risk and make better credit decisions. It also democratizes lending by putting control of the process in the hands of borrowers, making it easier for consumers to seek out financial institutions that want their business.\u201d<\/p>\n

The issued patent validates the innovation and novelty in FormFree\u2019s technology. FormFree was founded in 2008 by former Wall Street executive Brent Chandler. The company\u2019s pioneering work in bringing direct-source data analytics to the U.S. mortgage market has earned it six appearances on the HousingWire Tech100 list of the housing economy\u2019s most innovative companies, among other accolades. FormFree’s AccountChek\u00ae and Passport™ solutions are used by thousands of lenders and millions of consumers each year.<\/p>\n

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

FormFree is a market-leading fintech company whose revolutionary products AccountChek and Passport are building a more inclusive credit decisioning landscape by encouraging lenders to view borrower ability to pay (ATP) more holistically. To date, thousands of U.S. lenders and brokers have ordered millions of FormFree\u2019s patented verification reports representing over a trillion dollars in loan verifications. FormFree delights borrowers and lenders with a paperless experience, reduces origination timelines by up to 20 days and offers automated analysis and standardized delivery to lenders and investors using a secure ReIssueKey™.<\/p>\n

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

Twitter: @RealFormFree #patentnews #mortgageindustry #fintech<\/p>\n

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

ATHENS, Ga., Oct. 13, 2020 (SEND2PRESS NEWSWIRE) — FormFree has been granted Patent Number 10,769,723 for its proprietary ‘Systems and Methods for Electronic Account Certification and Enhanced Credit Reporting’ by the United States Patent and Trademark Office.<\/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":[10711,12804,14409,1,38,123,39,436,6,5],"tags":[12319,205],"class_list":["post-64602","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fintech","category-ap","category-athens-business","category-business-news","category-finance-news","category-georgia-news","category-mortgage-news","category-patent-trademark-news","category-software-news","category-technology-news","tag-credit-decisioning","tag-depthpr","has-post-title","has-post-date","no-post-category","no-post-tag","no-post-comment","has-post-author"],"acf":[],"views":3900,"_links":{"self":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts\/64602","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=64602"}],"version-history":[{"count":0,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts\/64602\/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=64602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/categories?post=64602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/tags?post=64602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}