Integration Streamlines Asset Verification and Accelerates Credit Decisions for Mortgage Applicants and Lenders
New York City, Aug. 21, 2018—
AccountChek was the first asset evaluation solution to be accepted by Fannie Mae’s Day 1 Certainty® program. As a result, 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 is a white-label, omni-platform POS that 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.”
“PromonTech is committed to providing a trusted solution that educates applicants and improves process transparency while also reducing time, cost and risk for lenders,” said Michael Kolbrener, chief technology officer of PromonTech. “Our integration with FormFree furthers both of these goals: it streamlines the borrower experience and delivers accurate asset information, directly from financial institutions.
About FormFree®
FormFree is a fintech company whose market-leading AccountChek® Asset Reports are used by lenders nationwide to verify borrower assets, employment and income in minutes. To date, more than 1,000 U.S. lenders have ordered over 1.25 million AccountChek Asset Reports, delighting their customers with a paperless experience and reducing origination timelines by up to 20 days. FormFree offers automated analysis and standardized delivery to lenders and their investors using a secure ReIssueKey™. A HousingWire TECH100™ company for four consecutive years, FormFree is based in Athens, Georgia. For more information, visit
About Promontory MortgagePath
Headquartered in New York, Promontory MortgagePath was founded by Gene Ludwig and Bruce Witherell, the former U.S. Comptroller of the Currency and chief operating officer of Freddie Mac, respectively. The company has two main operating divisions: PromonTech, its Denver-based technology arm and Promontory Fulfillment Services. PromonTech is a FinTech hybrid—that is, a technology company, led by seasoned banking and mortgage executives. Its digital solutions are designed by talented technologists and mortgage experts, working collaboratively to eliminate pain points and enhance the customer experience. Promontory Fulfillment Services offers end-to-end white-label mortgage fulfillment services for banks, mortgage banks and private investors and is located in Danbury, Conn. Promontory MortgagePath is the winner of the 2018 HW Tech100™ award and the 2018 Progress in Lending Innovations award.
Media Contacts
Bill Campbell
Campbell Lewis Communications for Promontech
212-995-8057
Leslie Colley
DepthPR for FormFree
404-390-3830