ATLANTA, March 22, 2017 /PRNewswire/ -- FormFree today
announced that cloudvirga(SM), developer of the automated,
cloud-based intelligent Mortgage Platform® (iMP), has selected
AccountChek™ for automated asset verification. Cloudvirga's custom
integration of AccountChek into the iMP collects borrower account
information early in the loan application process and offers a
seamless asset verification experience unlike any other mortgage
point-of-sale (POS) system in the marketplace today.
"Cloudvirga is re-engineering the mortgage workflow with a
relentless focus on increasing efficiency and driving down the cost
of lending," said Kyle Kamrooz,
co-founder of cloudvirga. "Our partnership with AccountChek by
FormFree exemplifies how cloudvirga delivers on the promise of true
automation."
A next-generation mortgage POS system, the iMP takes consumer
empowerment way beyond the typical digital loan application while
automating the entire initial disclosures process for loan officers
and consumers in all 50 states. The POS gives consumers and loan
officers an automated, intuitive and compliant workflow while
moving many traditional back-office tasks to the front of the loan
process.
FormFree's flagship app, AccountChek allows borrowers to
securely link asset and deposit data from virtually any financial
institution. Within seconds, lenders receive detailed analysis on
the borrower's ability to repay. Trusted by hundreds of lenders and
hundreds of thousands of borrowers, AccountChek was the first
provider of asset verification to participate in Fannie Mae's Day 1
Certainty™ initiative.
"AccountChek is a perfect fit for the intelligent Mortgage
Platform, not just because we're the most trusted name in asset
verification, but also because we share cloudvirga's vision of a
more modern and efficient way of lending," said Brent Chandler, chief executive officer and
founder of FormFree. "By not only collecting but applying
sophisticated analysis to borrower data, AccountChek completely
eliminates the need for back-office verification."
About cloudvirga(SM):
Cloudvirga is the company behind the cloud-based intelligent
Mortgage Platform® (iMP) designed to streamline the mortgage
process. The platform is digitizing the mortgage industry by
deploying an automated workflow to reduce overall cost, increase
transparency and shorten the time it takes to close a loan for both
borrowers and lenders. Founded by Bill
Dallas, Kyle Kamroo, and Mark
Attaway, seasoned financial veterans with a proven track
record of building mortgage-related technologies, cloudvirga is
disrupting the antiquated mortgage industry.
For more information, visit http://www.cloudvirga.com/ or follow
cloudvirga on LinkedIn at
https://www.linkedin.com/company-beta/7577062/.
About FormFree:
Leading lenders trust Athens,
Georgia-based FormFree to deliver automated verification
solutions that streamline the loan origination process and provide
better intelligence on borrowers' ability to repay. FormFree's
flagship app, AccountChek™, eliminates the hassle of collecting
paper statements from borrowers by using direct-access data
untouched by human hands to consolidate, analyze and verify assets.
Lender tested and GSE approved, AccountChek securely delivers
automated asset verification data and on-demand reports to more
than 200 leading U.S. lenders and their millions of customers.
FormFree was named one of American Banker magazine's "Top 10 Tech
Companies to Watch" in 2015.
For more information, visit http://www.formfree.com/.
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SOURCE FormFree