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FormFree Issued U.S. Patent for Innovative Verification Technology

The U.S. Patent & Trademark Office (PTO) issued Atlanta, GA-based FormFree Holdings Corporation U.S. patent #8,762,243 for AccountChek™, the world’s first automated asset verification system for the lending industry.


FOR IMMEDIATE RELEASE
FORMFREE ISSUED U.S. PATENT FOR INNOVATIVE VERIFICATION TECHNOLOGY
World’s first automated asset verification system, AccountChek, poised for widespread adoption

Atlanta, GA – July 16, 2014 – The U.S. Patent & Trademark Office (PTO) issued Atlanta, GA-based
FormFree Holdings Corporation U.S. patent #8,762,243 for AccountChek™, the world’s first
automated asset verification system for the lending industry. By using FormFree’s patented
AccountChek system, lenders and consumers can instantly authorize and share critical borrower
information essential for closing loans on any device.

This patent formally acknowledges FormFree’s proprietary process for electronic certification of
financial account data and protects the revolutionary technology used in AccountChek.
FormFree’s flagship asset verification solution helps lenders of all sizes eliminate fraud while
removing the need for borrowers to supply paper bank statements to receive a mortgage or
other type of loan.

In collaboration with leading lenders and government sponsored enterprises, AccountChek collects data directly from virtually any financial institution and generates reports in just minutes, creating enormous time savings for both the borrower and the
lender. By avoiding paper bank statements and using only the highest industry security
standards, AccountChek helps lenders eliminate fraud, significantly reduces buyback costs, and
makes it easy for lenders to comply with new “ability-to-pay” rules.

Brent Chandler, CEO of FormFree, stated, “The lending industry has shifted dramatically since the
2008 financial crisis. In the last six months alone, we have witnessed some of the most significant
new regulations the financial services industry has ever seen. As a result, the move towards
digital lending is unstoppable. AccountChek helps lenders meet new federal regulations that
require them to use stronger borrower verification processes in the hopes of avoiding another
crisis. The patent further validates and protects AccountChek as we approach widespread
adoption and industry acceptance. By leveraging our strategic partnerships with some of the
financial services industry’s leading institutions and government sponsored enterprises (GSEs),
FormFree is poised to lead the digital age of lending.”

Recently, FormFree was the recipient of Mortgage Technology magazine’s “Fix-It” Award, and
was a category winner in HousingWire magazine’s 2014 HW TECH100 list of the most innovative
technology companies in the housing industry. FormFree was also named a top innovation by
the PROGRESS in Lending Association for transforming the method of verifying a borrower’s
assets into a paperless process.

About FormFree
FormFree Holdings Corporation is a privately-held technology provider that specializes in helping
financial institutions determine the ability of their customers to pay back loans and reduce
closing times by automating the financial verification process. FormFree has partnered with
Equifax and other industry-leading credit and financial service providers to collect, certify and
analyze data and help customers make better lending decisions. Their flagship product is
AccountChek, an automated, paperless verification of deposits and assets solution. The
company was founded in 2008 and is based in Atlanta, Georgia.

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