FormFree’s AccountChek automated asset verification system is now integrated with PromonTech‘s Borrower Wallet point-of-sale (POS) solution.
PromonTech is the technology division of Promontory MortgagePath.
AccountChek was the first asset evaluation solution to be accepted by Fannie Mae’s Day 1 Certainty program. As a result, Borrower Wallet clients will be able to take advantage of Day 1 Certainty, as well as streamlined asset verification and accelerated credit decisioning.
Borrower Wallet is a white-label, omni-platform POS that engages with customers using any computer or mobile device, on either a self-serve or loan-officer assisted basis. The secure, borrower-friendly environment is designed to build confidence and make it easy for the borrower to enter information, approve automated data collection, upload/e-send documents, sign disclosures, use the closing center and stay informed from origination through loan closing.
Borrower Wallet promotes both applicant self-service and values the role the loan officer plays as a trusted advisor.
“FormFree was designed to streamline the loan origination process and reduce risk by providing better insight into borrowers’ ability to repay,” says Brent Chandler, founder and CEO of FormFree, in a release. “Our integration with Borrower Wallet enables PromonTech to instantly complete three verifications – asset, income and employment – in one action that is simple for applicants and more efficient for lenders.”