Announcement: FormFree introduces the Residual Income Knowledge Index - powering the Guild Mortgage Complete Rate Program Learn more

Expand access to credit – and home ownership.

Introducing a new method for determining a borrower’s Ability to Pay.

Learn how RIKI works.

How do you measure credit risk for borrowers with no FICO score?

We’re excited to offer lenders a new option for assessing a borrower’s Ability to Pay (ATP). This groundbreaking method for measuring credit risk helps expand purchasing power to borrowers with no FICO score or thin credit history.

Meet RIKI, and responsibly extend credit to more borrowers.

FormFree is proud to provide residual income analytics — what we call a Residual Income Knowledge Index™, or RIKI™. It’s a new way to measure ability to pay that lenders can use alongside other information about a borrower’s creditworthiness. With RIKI, innovative lenders can create a more inclusive path to homeownership.

Transparency of data and risk.

Borrowers simply opt-in for a free assessment during the origination process. Our ATP report determines a borrower’s cash flow and residual income not captured by traditional FICO scores. This proprietary analysis of borrower-permissioned bank transaction and balance data is retrieved directly from financial institutions. If lenders see consistent rent payment history and/or good residual income history, then borrowers may qualify to receive a lower interest rate, lower fees, or both.

Leverage technology to drive more inclusive lending.

Direct-source data and new technology allow lenders to see rent payment history, and better measure disposable and discretionary income, forever changing the dynamics of credit risk assessment. Our ATP analytics and RIKI score help democratize lending and minimize the wealth gap associated with traditional underwriting methods. At FormFree we’re passionate about helping create opportunities for low-to-middle income (LMI) families, and minorities with limited or no credit, to achieve their dream of home ownership.