Rob Chrisman, influential mortgage industry blogger, released today an update on industry news that features Jerry Schiano – President and CEO of New Penn Financial – talking about his company’s use of AccountChek.
From the Chrisman report:
New Penn Financial has started using FormFree’s AccountChek Asset Verification Report. By eliminating the need for paper bank statements, AccountChek is said to significantly reduce buyback exposure and fraud, while also providing lenders with an easy solution for complying with new “ability-to-pay” rules. Jerry Schiano, president and chief executive officer of New Penn Financial, stated “We are anxious to use FormFree’s AccountChek solution, we will now be able to verify our applicants’ bank statements digitally, rather than on paper, which will enable us to improve our customer service as well as get more accurate information faster.”
You can view the full report at Rob Chrisman’s December 31 Mortgage News and Commentary.
