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FormFree Expands Partnership With Envestnet|Yodlee
FormFree has announced its expanded partnership with Envestnet|Yodlee. By leveraging Envestnet|Yodlee Risk Insight Solutions, FormFree will have access to new data points that help to reinforce its position as provider of the most complete and reliable asset, employment and income verification reports in the mortgage industry.
The Envestnet|Yodlee Risk Insight Solutions deliver reports designed to provide insight into a consumer’s holistic financial picture, utilizing aggregated data from over 16,000 sources, including banking, investment, loan and credit card information. This comprehensive data allows FormFree to enhance its AccountChek reports with bank statement copies that meet Federal Housing Administration (FHA) requirements. The data will also enable FormFree to fine-tune its analysis of borrower ability to pay with thousands of new rules.
“We believe the breadth of Envestnet|Yodlee’s financial data across banking and wealth management from tens of millions of consumers far surpasses the competition,” said FormFree Founder and CEO Brent Chandler. “By combining Envestnet|Yodlee’s track record of secure and accurate financial account aggregation with FormFree’s decade of mortgage industry experience, we are bringing lenders unparalleled insight into their borrowers’ ability to pay. Based on the research we conducted, the other options in the marketplace don’t even compare.”
Michael Burger, Vice President of Product Management for Envestnet|Yodlee, said, “FormFree’s partnership with Envestnet|Yodlee leverages our established platform and extensive data relationships to build better asset, income and employment analytics for lenders. Lenders participating with us in Fannie Mae’s Single Source Validation pilot are already experiencing the powerful combination of Envestnet|Yodlee’s Risk Insight Solutions and FormFree’s AccountChek verification report.”
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