FormFree spread the word that, “Four of the most critical pillars of the loan are income, identity, asset and employment. Now that Fannie Mae has weighed in on using automated verification technology for three of these four pillars (i.e., asset via AccountChek and Employment/Income via Equifax) through the Day 1 Certainty Initiative, the savvy lender will be turning their attention to bundling and automating all four pillars to create a true straight-through process environment in underwriting.
This is an area to which FormFree has turned its attention in recent months, and we anticipate bringing to market an integrated verification platform called Passport, which we previewed at the SourceMedia Digital Mortgage Conference in San Francisco. The platform securely leverages both direct-access data and records from trusted third-party consumer information repositories to bundle and deliver this critical verification information into one easy report.”
Read this commentary as it originally appeared in Rob Chrisman’s influential mortgage industry blog.
