{"id":85940,"date":"2022-10-18T07:00:48","date_gmt":"2022-10-18T11:00:48","guid":{"rendered":"https:\/\/www.send2press.com\/wire\/?p=85940"},"modified":"2022-10-17T18:07:42","modified_gmt":"2022-10-17T22:07:42","slug":"formfrees-accountchek-can-now-be-used-by-mortgage-lenders-to-satisfy-freddie-macs-assessment-of-income-requirement-for-loan-applicants-paid-through-adp","status":"publish","type":"post","link":"https:\/\/www.send2press.com\/wire\/formfrees-accountchek-can-now-be-used-by-mortgage-lenders-to-satisfy-freddie-macs-assessment-of-income-requirement-for-loan-applicants-paid-through-adp\/","title":{"rendered":"FormFree’s AccountChek can now be used by mortgage lenders to satisfy Freddie Mac’s assessment of income requirement for loan applicants paid through ADP"},"content":{"rendered":"

ATHENS, Ga., Oct. 18, 2022 (SEND2PRESS NEWSWIRE) — FormFree<\/a>® today announced that mortgage lenders can now use AccountChek® to automate income assessment using Freddie Mac Loan Product Advisor® (LPA℠) asset and income modeler (AIM) for borrowers who are paid through ADP.<\/p>\n

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

AIM automates the assessment of borrower income using direct-source employer and payroll service data furnished by a Freddie Mac designated third-party service providers like FormFree. ADP is the first payroll provider eligible for automated verification of income (VOI) through AIM. AccountChek supports this expansion by enabling borrowers to authorize electronic verification of their ADP payroll data.<\/p>\n

FormFree is a leading provider of consumer-permissioned verification of asset (VOA) and verification of income and employment (VOI\/E) data to the mortgage industry. The company\u2019s flagship verification service, AccountChek, enables consumers to verify income and employment with more than 50 payroll providers and 100,000 employers. The company\u2019s extensive payroll partnerships enable AccountChek to furnish payroll data and W-2s that meet Freddie Mac selling requirements.<\/p>\n

\u201cFormFree applauds Freddie Mac for its continuous innovation that helps lenders execute a simpler, more efficient loan origination process,\u201d said FormFree Founder and CEO Brent Chandler. \u201cGiving lenders the ability to automatically assess income dispersed by the world\u2019s largest payroll provider will extend the convenience of digital VOI to an expansive cohort of homebuyers. We look forward to supporting Freddie Mac as it adds more payroll providers to AIM.\u201d<\/p>\n

\u201cAutomation of a mortgage applicant\u2019s income using payroll provider data has numerous benefits for our clients and their customers \u2013 it’s really a win all around,\u201d said Kevin Kauffman, Single-Family Vice President of Client & Partner Delivery at Freddie Mac. “Our partnership with FormFree is helping\u00a0our clients reduce costs through process efficiencies, which can lead to savings for their customers, and it also delivers better risk management in all economic cycles.\u201d<\/p>\n

About FormFree®<\/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® and Passport® products open doors to more inclusive credit decisioning by revealing each customer\u2019s true ability to pay (ATP®). We have completed over $3 trillion in loan verifications that help lenders lower operating costs while improving the borrower experience.<\/p>\n

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

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

ATHENS, Ga., Oct. 18, 2022 (SEND2PRESS NEWSWIRE) — FormFree® today announced that mortgage lenders can now use AccountChek® to automate income assessment using Freddie Mac Loan Product Advisor® (LPA℠) asset and income modeler (AIM) for borrowers who are paid through ADP.<\/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":[15408,205,8952],"class_list":["post-85940","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-of-assets","tag-depthpr","tag-freddie-mac","has-post-title","has-post-date","no-post-category","no-post-tag","no-post-comment","has-post-author"],"acf":[],"views":3609,"_links":{"self":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts\/85940","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=85940"}],"version-history":[{"count":0,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts\/85940\/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=85940"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/categories?post=85940"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/tags?post=85940"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}