The recent drop in mortgage rates has rendered 8.2 million mortgages refi-eligible, and a further 1/8 percent decline in rates would thrust the number of refi-eligible borrowers to 9.7 million. That’s a lot of customers you could be wowing with automated asset, income and employment verification. FormFree’s Passport is the O.G. provider in this space, but FormFree has done something decidedly new-school with its recent decision to offer closed loan pricing, where lenders receive the Passport Summary report for a $1 fee on each loan application and then only pay for a full report on loans that fund. See a live demo of Passport at Freddie Mac Connect, where FormFree is holding down booth #15 as the event’s platinum sponsor.
Read this news as it originally appeared in Rob Chrisman’s Mortgage News & Commentary.
