FormFree has introduced a new exchange where lenders can connect with qualified borrowers.
The new FormFree Exchange (FFX) is an online marketplace where lenders compete for the business of high-intent, financially vetted borrowers, the firm says in a release.
“FormFree Exchange is where lenders meet qualified borrowers,” says Brent Chandler, founder and CEO of FormFree. “Our platform represents the future of lending, providing a transparent and efficient way for home, auto and consumer lenders to connect with high-intent borrowers. It’s not just about making loans; it’s about making lending accessible and profitable for all.”
FFX has been meticulously designed to address the challenges facing lenders and borrowers in the modern financial landscape, FormFree says.
With interest rates and home prices driving down loan application numbers and the prohibitive costs of lead generation eroding lender profitability, FFX offers a solution that reshapes lending.
FFX eliminates the need for lenders to sift through unqualified or unready leads by providing verified financial data from borrowers who have already demonstrated that they are ready and willing to transact using FormFree’s free Passport service.
Lenders receive this data in the form of an anonymous qualified borrower (QB) medallion that empowers them to make competitive loan offers while protecting borrowers’ identities until an offer is extended and accepted.