FormFree Holdings Corporation has announced that its AccountChek, is now available through Ellie Mae’s Encompass mortgage management solution. The integration between the two solutions enables Encompass users to order, analyze and certify a borrower’s electronic bank statement data. The result is the industry’s first digital “Asset Report” that enables lenders to quickly verify borrower’s assets and perform a number of rich analytics, which significantly reduce the time required to originate loans. In addition, the AccountChek solution virtually eliminates one of the major issues in lending—bank statement fraud.
“We’re pleased to partner with FormFree and offer our clients another efficient way to verify borrower bank statement data through the Ellie Mae Network in Encompass,” said Joe Tyrrell, senior vice president of corporate strategy for Ellie Mae.
“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,” said 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.”