FormFree Enhances Encompass Consumer Connect Integration with Auto-Population of Borrower Data into 1003 Loan Application

FormFree® today announced enhancements to the integration between its AccountChek® verification service and Encompass Consumer Connect®. Now, borrower data collected by AccountChek in Consumer Connect will automatically map to the Form 1003 (the Universal Residential Loan Application) in the Ellie Mae® Digital Lending Platform, saving lenders time and relieving them of the frustration and risk associated with manual data entry. The upgrade also fully embeds AccountChek within the Consumer Connect user experience (UX) for easier borrower navigation and reduced application fall-out.

FormFree® today announced enhancements to the integration between its AccountChek® verification service and Encompass Consumer Connect®. Now, borrower data collected by AccountChek in Consumer Connect will automatically map to the Form 1003 (the Universal Residential Loan Application) in the Ellie Mae® Digital Lending Platform, saving lenders time and relieving them of the frustration and risk associated with manual data entry. The upgrade also fully embeds AccountChek within the Consumer Connect user experience (UX) for easier borrower navigation and reduced application fall-out.

Ellie Mae, now a part of Intercontinental Exchange, Inc., is the leading cloud-based platform provider for the mortgage finance industry. The company’s Consumer Connect is a mortgage point-of-sale platform that provides a scalable, intuitive experience for homebuyers while helping lenders close loans faster and convert more applications to closed loans.

FormFree’s patented AccountChek and AccountChek Plus™ provide lenders actionable intelligence on borrowers’ ability to repay loans by consolidating, analyzing and verifying asset account balances and details, employment data and income data obtained directly from financial institutions and other authoritative sources.

“FormFree expedites pre-approvals and increases loan pull-through by paperlessly verifying borrower asset, employment and income information in a single report at the point of sale,” said FormFree Chief Technology Officer Brian Francis. “The latest enhancements to our Consumer Connect integration will make it easier and faster than ever for lenders to make informed credit decisions.”

“As an Ellie Mae Consumer Connect user, we are excited about the recent enhancement to the AccountChek process. The enhanced integration means an easier application process, which supports our objective to continuously improve the member experience,” said Dawana Manning, AVP of Loan Fulfillment, Residential Lending for Atlanta-based Delta Community Credit Union. “The increased efficiency gained by the automated addition of VOA [verification of asset] data to the loan application is a huge benefit to our lending team.”

About FormFree:
FormFree is a market-leading fintech company whose revolutionary products AccountChek and Passport are changing the credit decisioning landscape and encouraging lenders nationwide to incorporate a more holistic view of each borrower’s financial DNA. To date, thousands of U.S. lenders and brokers have ordered millions of FormFree’s patented verification reports representing over a trillion dollars in loan verifications. FormFree delights borrowers and lenders with a paperless experience, reduces origination timelines by up to 20 days and offers automated analysis and standardized delivery to lenders and investors using a secure ReIssueKey™. For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

Twitter: @RealFormFree @EllieMaeInc @DeltaCommunity #ConsumerConnect #mortgageindustry #VOA

Total
0
Shares
Leave a Reply
Related Posts
Read More

Cryptocurrency ATM Network Bitcoin Depot Acquires Texas-Based Competitor, DFW Bitcoin in First-of-its-Kind Acquisition

Bitcoin Depot, a cryptocurrency ATM network based in Atlanta, Georgia, today announced the acquisition of competitor, DFW Bitcoin. This acquisition is the first of its kind between Bitcoin ATM operators, and signals continued strong growth in the industry, in line with expert projections forecasting an annual compound growth rate of 46.61 percent by 2024(1).

Read More

Oracle Cloud, Engineered Systems and Hardware Now Available through BIAS GSA Schedule

BIAS Corporation, a leading IT Services company and award-winning member of Oracle PartnerNetwork (OPN), today announced it has added Oracle Cloud Infrastructure (IaaS), Oracle Cloud Applications (SaaS), Oracle Construction & Engineering Cloud Services, and Engineered Systems and Hardware (including Servers and Storage software) to its GSA IT Schedule contract. This addition to BIAS's GSA schedule provides federal agencies, as well as other qualified agencies and participating organizations, streamlined access to Oracle products and services to meet their mission critical requirements.