Announcement: Freddie Mac and FormFree now offer positive rent payment history analysis Learn more

How new tech can improve the loan process (TechCrunch)

Brent Chandler and the AccountChek solution were included in an article on TechCrunch on how technology can improve the loan process by Kyle Kamrooz from CloudVirga.
Mortgage lenders, once trapped in antiquated systems and manual processes, are rapidly adopting digital web-based loan solutions to streamline the process. In addition, we’re now seeing secure cloud-based “loan centers” that are accessible to borrowers 24/7 from computers and mobile devices to check loan status, upload required documentation, sign documents electronically and maintain a digital system of record.
This would not be possible without innovative companies providing the underlying technology to help traditional lenders replace manual processes with data-driven workflows and automation. FormFree, a technology vendor we utilize at CloudVirga, is one such example. It provides automated verification of income and assets in minutes to lenders of all kinds — from mortgage companies, to auto loans and even credit card companies. FormFree’s founder and CEO Brent Chandler tells me its AccountChek solution was born out of a desire to reduce the burden on the borrower, while streamlining the process for the lender.
“The digital transformation is now taking hold in the lending world,” Chandler said. “When digital, or direct-source, information is harnessed properly, that type of shift creates numerous benefits to the lending industry as a whole — from the proper allocation of credit to more liquidity. Ultimately, these proper solutions lead to stability. We like to refer to it as common sense underwriting.”
You can view the full article at How new tech can improve the loan process.

Related Articles

FormFree knew digital credit risk data would catch on (MPA)

Read More

MBA Honors 2022 Tech All-Stars

Read More

FormFree Names Eric Lapin Chief Strategy Officer (MReport)

Read More