The seamless API integration allows mortgage lenders to order, manage and review verification of asset (VOA) and verification of income/employment (VOIE) reports with a single provider selection in Encompass.
By consolidating VOA and VOIE orders through a single vendor, mortgage lenders improve efficiency in the loan origination process, reduce per-loan costs and streamline vendor due diligence.
“Now mortgage lenders can get all three core verifications — assets, income and employment — from one trusted partner within the familiar Encompass environment,” says Brent Chandler, CEO of FormFree, in a release. “By combining VOA and VOIE, FormFree’s AccountChek 3n1 eliminates the cost and headache of managing multiple vendors, helps loan teams work more efficiently and delivers a world-class borrower experience that expedites pre-approvals and increases loan pull-through.”
For over 10 years, FormFree VOA has helped borrowers skip the paper chase when qualifying for a loan. Borrowers send their direct-source financial data straight to lenders in an underwriting-friendly format that reduces delays, manual errors and fraud risk. Real-time insight into borrowers’ assets, income and employment enables better credit decisioning. Key features include:
- Average connection time of just 22 seconds
- Available with 30, 60, 90 and 180-day refresh periods
- Government-sponsored enterprise (GSE) rep and warrant relief eligible
- VOIE (Income and Employment Report)
An integration between AccountChek and Encompass had previously been announced in 2014.