FormFree And Ellie Mae Announce Integration


FormFree's AccountChek solution, which allows lenders to verify an applicant's bank records in just minutes, is now integrated with Ellie Mae's Encompass mortgage management system, the companies announced.

That means lenders using Encompass can now quickly and easily verify an applicant's bank statements when processing their request for a mortgage.

The ability to quickly verify a borrower's assets and perform a number of rich analytics significantly reduces the time required to originate loans, the companies claim in a release. In addition, AccountChek virtually eliminates one of the major issues in lending – bank statement fraud.

‘This partnership is a huge step forward for automated asset verifications, paperless loans and the industry as a whole, since roughly one in five mortgage loans goes through Encompass,’ says Brent Chandler, founder and CEO of FormFree. ‘Partnerships like this can have a real impact on moving the mortgage industry into the digital age and to leverage the leading technologies in the field.’

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