FormFree recently announced that cloudvirga, developer of the automated, cloud-based intelligent Mortgage Platform (iMP), has selected AccountChek for automated asset verification. Cloudvirga’s custom integration of AccountChek into the iMP collects borrower account information early in the loan application process and offers a seamless asset verification experience unlike any other mortgage point-of-sale (POS) system in the marketplace today.
“Cloudvirga is re-engineering the mortgage workflow with a relentless focus on increasing efficiency and driving down the cost of lending,” cloudvirga Co-Founder Kyle Kamrooz said in a press release. “Our partnership with AccountChek by FormFree exemplifies how cloudvirga delivers on the promise of true automation.”
A next-generation mortgage POS system, the iMP takes consumer empowerment way beyond the typical digital loan application while automating the entire initial disclosures process for loan officers and consumers in all 50 states. The POS gives consumers and loan officers an automated, intuitive and compliant workflow while moving many traditional back-office tasks to the front of the loan process.
FormFree’s flagship app, AccountChek allows borrowers to securely link asset and deposit data from virtually any financial institution. Within seconds, lenders receive detailed analysis on the borrower’s ability to repay. Trusted by hundreds of lenders and hundreds of thousands of borrowers, AccountChek was the first provider of asset verification to participate in Fannie Mae’s Day 1 Certainty initiative.
“AccountChek is a perfect fit for the intelligent Mortgage Platform, not just because we’re the most trusted name in asset verification, but also because we share cloudvirga’s vision of a more modern and efficient way of lending,” FormFree CEO and Founder Brent Chandler said in a press release. “By not only collecting but applying sophisticated analysis to borrower data, AccountChek completely eliminates the need for back-office verification.”