, the technology unit of Promontory MortgagePath, has announced that its point-of-sale (POS) solution, Borrower Wallet, is now integrated with FormFree’s
automated asset verification service, AccountChek. 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 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,” said Brent Chandler, Founder and Chief Executive Officer of FormFree. “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.”
Michael Kolbrener, Chief Technology Officer of PromonTech, said, “PromonTech is committed to providing a trusted solution that educates applicants and improves process transparency while also reducing time, cost and risk for lenders. Our integration with FormFree furthers both of these goals: it streamlines the borrower experience and delivers accurate asset information, directly from financial institutions.