Certainly vendors are tuned in to developments. For example, FormFree’s founder and CEO Brent Chandler writes, “Industry demand for our AccountChek automated asset verification tool has grown dramatically since the Ability-to-Repay (ATR) rule went into effect in early 2014. Demand continues to grow as TRID is contributing to dramatic increases in the average time to close and lenders search for ways to become more efficient. AccountChek reduces the time needed to analyze borrower assets to a matter of minutes, and it decreases the time Quality Control needs to review a loan. Our customers see the tremendous value in paperless, automated asset verification that is GSE-approved. We think this is an idea whose time has finally come, and we anticipate continued and significant growth in Q4. (Inquiries should be directed to Chris Martin.)
Read this commentary as it originally appeared in Rob Chrisman’s influential mortgage news and commentary blog.
