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Reps and warrants relief for automated income and asset verification signals end of paper-based lending (RobChrisman.com)

In terms of products, FormFree’s founder and CEO Brent Chandler writes, “Rep and warrant relief for automated income and asset verification through The Work Number and AccountChek is a signal to the industry that the paper-based era of mortgage lending is coming to an end. Mortgage technology has finally evolved to the point that lenders can base their decisions on direct-access data – untouched by human hands – and be relatively protected against buyback requests by doing so. This announcement is the culmination of an extensive pilot with Fannie Mae, and to be the first announced preferred provider for automated asset verification is simply phenomenal.”
Read this commentary as it originally appeared in Rob Chrisman’s influential mortgage news and commentary blog.

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