Atlanta-based FormFree says retail mortgage lender Guaranteed Rate Inc. has chosen its AccountChek application for automated asset verification.
The partnership enables loan officers at Guaranteed Rate to offer clients a faster, safer and more accurate alternative to scanning and uploading asset statements, the company says. AccountChek’s app allows borrowers to securely link to their banking, retirement and investment accounts and share the asset and deposit data needed to qualify for a loan.
“AccountChek saves borrowers the extra 20 minutes it takes to collect and upload paper statements, but it also does much more than that: It streamlines the entire loan process,” says Nikolaos Athanasiou, chief operating officer at Guaranteed Rate.
“No matter what financial institutions a borrower uses, we receive one standardized asset report in the GSE-required format. This speeds up our underwriting review and gives us greater confidence in our ability to sell the loan,” he adds.
“AccountChek helps lenders achieve reps and warrants relief from Fannie Mae while delivering a more modern lending experience to borrowers,” notes FormFree Founder and President Brent Chandler.
