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FormFree teamed up with LexisNexis® Risk Solutions to help lenders “intelligently pre-fill the Universal Residential Loan Application (Form 65/1003) for mortgage applicants. The combined solution, part of FormFree’s Passport™ all-in-one verification app, significantly reduces the amount of information a consumer must manually input into a digital loan application, greatly simplifying the application process, minimizing input errors and improving the likelihood of completing the loan application.” The LexisNexis Digital Mortgage Application Prefill solution works behind the scenes to verify the consumer’s device, providing an initial layer of fraud defense before the transaction begins. Once the device is authenticated, consumers who opt to authenticate their identity and use the Passport electronic verification service can view, confirm and edit loan applications that have been prefilled with their personal information, including two year address history, assets and other real estate owned, employer information from Passport, monthly income, and combined housing expense information.
Read the full story on RobChrisman.com.