ATLANTA, Ga., Aug 25, 2016 (SEND2PRESS NEWSWIRE) — FormFree Holdings Corp. (FormFree), a provider of automated verification software, today announced that Mortgage Financial Services has selected AccountChek(TM) to automate borrower asset review for an easier, faster home loan application process.
AccountChek enables lenders to order, analyze and certify a borrower’s financial data in minutes using a secure, web-based platform, eliminating the need for borrowers to collect, copy and submit paper statements. Automated asset verification streamlines the mortgage underwriting process for both borrowers and lenders, resulting in quicker decisions and higher borrower satisfaction. By eliminating paper statements in favor of direct-source data, AccountChek also produces a more fraud-resistant loan process.
Mortgage Financial Services is a Texas-based mortgage lender that has seen considerable growth over the last 12 months, adding 16 branch offices and more than 150 employees. The company was recently named to the 2016 Inc. 5000 list, which ranks the fastest-growing private corporations in America.
“At Mortgage Financial Services, we are committed to creating a better home-buying experience for the consumer by striking the right balance between technology and human touch,” said John H. P. Hudson, vice president of Mortgage Financial Services. “AccountChek exemplifies this effort. It’s easy to use and saves borrowers time and effort. Plus, with many banks still charging $25 for a verification of deposit, AccountChek is quicker and cheaper for lenders than the alternative.”
According to Hudson, AccountChek helps lenders and borrowers avoid unexpected hiccups in the asset verification process. For instance, consumers often throw away blank pages included with their monthly bank statements, but lenders can’t use statements to verify borrower assets unless all pages are intact. At other times, borrowers need to show proof of a recent payroll deposit that hasn’t appeared on a bank statement yet.
“AccountChek improves the borrower experience and expedites the home loan process by delivering up-to-date asset verification instantaneously,” said Hudson. “That could mean sparing a customer the stress of searching for missing pages. It could also mean the difference between closing today or closing three days from now.”
“When it comes to mortgage transactions, time lost is money lost – for both the lender and the borrower,” said Brent Chandler, CEO and founder of FormFree. “Verifying a borrower’s ability to repay is a critical component of the loan origination process – one we’re delighted to make faster, easier and more secure for Mortgage Financial Services and its customers.”
About FormFree:
Leading lenders trust FormFree Holdings Corp. to deliver automated verification solutions that increase loan closing speed and draw more insight from a borrower’s financial information. FormFree was named one of American Banker magazine’s “Top 10 Tech Companies to Watch” in 2015. Its flagship product, AccountChek(TM), is the only patented third-party asset verification solution approved by GSEs and leading investors to deliver automated asset verification data and reports. The AccountChek solution consolidates, analyzes and verifies assets directly from their source, then applies thousands of proprietary algorithms to generate asset reports on demand. More than 200 leading lenders offer AccountChek to their millions of customers in the United States. FormFree is headquartered in Atlanta, Georgia.
For more information, visit http://www.formfree.com/.
About Mortgage Financial Services:
Mortgage Financial Services (MFS) was founded in Baton Rouge, Louisiana, in 2001. Committed to becoming a top-20 mortgage company, MFS has added 16 branches since June 2015. Ranked #722 on the Inc. 5000 list of America’s fastest-growing private companies and named a Top 100 Employer (Top 10 in the Southwest) by National Mortgage Professional magazine, MFS delivers the products, price and service homebuyers deserve. MFS (NMLS #43021) is an equal housing lender based in Flower Mound, TX.
For more information, visit http://www.mortgagefinancial.com.
News Source: FormFree Holdings Corp.
This press release was issued on behalf of the news source, who is solely responsible for its accuracy, by Send2Press Newswire. To view the original story, visit: https://www.send2press.com/wire/mortgage-financial-services-chooses-accountchek-by-formfree-to-expedite-the-home-loan-process-through-automated-account-verification/
