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Freddie Mac has named FormFree a designated third-party service provider for automated income and asset assessment capabilities.
The news coincides with the revealing of new enhancements to Freddie Mac’s Loan Advisor suite of technology solutions designed to take cost out of the origination process and help mortgage lenders acquire relief from certain representations and warranties.
By fully automating the assessment of borrower income and assets with data from FormFree and other approved third-party sources, Freddie Mac can offer lenders rep and warranty relief when the data meets its underwriting and eligibility requirements, the company says in a release.