{"id":80172,"date":"2022-03-24T06:55:06","date_gmt":"2022-03-24T10:55:06","guid":{"rendered":"https:\/\/www.send2press.com\/wire\/?p=80172"},"modified":"2022-03-23T18:13:31","modified_gmt":"2022-03-23T22:13:31","slug":"george-mason-mortgage-selects-formfree-accountchek-to-streamline-its-verification-of-borrower-assets-income-and-employment","status":"publish","type":"post","link":"https:\/\/www.send2press.com\/wire\/george-mason-mortgage-selects-formfree-accountchek-to-streamline-its-verification-of-borrower-assets-income-and-employment\/","title":{"rendered":"George Mason Mortgage selects FormFree AccountChek to streamline its verification of borrower assets, income and employment"},"content":{"rendered":"

ATHENS, Ga., March 24, 2022 (SEND2PRESS NEWSWIRE) — FormFree<\/a>\u00ae today announced that Washington, D.C.-based George Mason Mortgage<\/a> (GMM) has selected AccountChek\u00ae as the regional lender\u2019s exclusive provider of automated asset, income and employment verification services. GMM will use AccountChek to simplify the loan application experience for borrowers, improve productivity for its team of 120 mortgage loan officers and reduce loan cycle times.<\/p>\n

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

How It Works<\/strong><\/p>\n

A seamless integration between FormFree and GMM\u2019s mortgage point-of-sale software makes it easy for loan teams to order AccountChek verification of asset (VOA) and verification of income\/employment (VOIE) reports with just a few clicks. Instead of manually gathering bank statements and pay stubs and submitting them to GMM, loan applicants can use AccountChek to digitally verify assets, income and employment in seconds using high-fidelity data and documentation sourced directly from financial institutions and payroll providers. The information collected by AccountChek is then automatically mapped to the Form 1003 Universal Residential Loan Application in GMM\u2019s loan origination software, eliminating the time and risk associated with manual data entry.<\/p>\n

Because FormFree is an authorized asset verification report supplier for Fannie Mae\u2019s Desktop Underwriter\u00ae (DU\u00ae) validation service and Freddie Mac’s Loan Product Advisor\u00ae (LPASM) asset and income modeler (AIM) solution, GMM receives freedom from representations and warranties for certain validated loan components, resulting in greater certainty when selling loans on the secondary market.<\/p>\n

Early Results<\/strong><\/p>\n

Since rolling out AccountChek enterprise-wide at the beginning of the year, GMM has seen an eight-fold uptick in orders for automated VOA and VOIE. According to SVP of Information Systems Margie Ambrosio, AccountChek is helping the lender deliver a better borrower experience and compressing the time required for loans to progress from application to closing to investor purchase.<\/p>\n

\u201cOur borrowers wanted an easier way to document their ability to pay,\u201d said GMM SVP of Information Systems Margie Ambrosio. \u201cAccountChek combines asset, income and employment verification into one easy step for borrowers and gives us an underwriter-ready report that can be refreshed at any point between initial application and closing. Eliminating repetitive requests for paper documentation is already improving efficiency in our loan origination process, reducing per-loan costs and streamlining vendor due diligence \u2014 not to mention delighting our customers.\u201d<\/p>\n

A wholly owned subsidiary of United Bank, George Mason Mortgage is licensed to serve mortgage customers throughout the United States and maintains retail branches in 12 states plus the District of Columbia.<\/p>\n

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

As the industry\u2019s go-to provider for direct-source VOA and VOI\/E data, FormFree helps lenders understand credit risk like never before. Our patented AccountChek\u00ae and Passport\u00ae products open doors to more inclusive credit decisioning by revealing each customer\u2019s true ability to pay (ATP\u00ae). We have completed over $3 trillion in loan verifications that help lenders lower operating costs while improving the borrower experience. For more information, visit https:\/\/www.formfree.com\/<\/a> or follow FormFree on LinkedIn<\/a>.<\/p>\n

About George Mason Mortgage, LLC<\/strong><\/p>\n

Based in Fairfax, Virginia, George Mason Mortgage was founded in 1980 and is a wholly owned subsidiary of United Bank. We have been consistently ranked as a top lender in the mid-Atlantic region and have expanded into various markets with retail offices throughout Virginia, Washington, D.C., Maryland, North Carolina and South Carolina. We understand the importance of homeownership and are fortunate to have a superior team of in-house underwriters, processors and closers to provide you with the kind of efficient, personalized service you can only get from a local lender. Our goal is to provide easy and comprehensive solutions that suit the individual needs of our borrowers. For more information, visit https:\/\/www.gmmllc.com\/<\/a>.<\/p>\n

Twitter: @RealFormFree @gmmllc #mortgage #mortgageindustry #fintech #digitalmortgage<\/p>\n","protected":false},"excerpt":{"rendered":"

ATHENS, Ga., March 24, 2022 (SEND2PRESS NEWSWIRE) — FormFree today announced that Washington, D.C.-based George Mason Mortgage (GMM) has selected AccountChek as the regional lender’s exclusive provider of automated asset, income and employment verification services. GMM will use AccountChek to simplify the loan application experience for borrowers, improve productivity for its team of 120 mortgage loan officers and reduce loan cycle times.<\/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":[39,12804,14409,1,38,10711,123,6,5],"tags":[14188,12319,205,17895],"class_list":["post-80172","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mortgage-news","category-ap","category-athens-business","category-business-news","category-finance-news","category-fintech","category-georgia-news","category-software-news","category-technology-news","tag-automated-verification-services","tag-credit-decisioning","tag-depthpr","tag-george-mason-mortgage","has-post-title","has-post-date","no-post-category","no-post-tag","no-post-comment","has-post-author"],"acf":[],"views":3924,"_links":{"self":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts\/80172","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=80172"}],"version-history":[{"count":0,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts\/80172\/revisions"}],"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=80172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/categories?post=80172"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/tags?post=80172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}