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FormFree partners Freddie Mac to assess client data

Monday 21 February 2022 13:04 CET | News

US-based FormFree has partnered Freddie Mac to allow mortgage lenders to assess a prospective homebuyer's income using direct deposit data.

Available to mortgage lenders, Freddie Mac's Loan Product Advisor (LPASM) asset and income modeler (AIM) solution fulfils mortgage verification of assets (VOA) and verification of income (VOI) requirements.

FormFree's AccountChek uses tens of thousands of data connections with 16,000 financial institutions to deliver consumer-permissioned asset and income verification in one report.

A March Freddie Mac Single-Family Seller/Servicer Guide Bulletin will provide lenders additional requirements and information about when the solution will be available. Once Freddie Mac releases AIM for income using direct deposits, it will be available to lenders using LPA v5.06 or higher.

More: Link


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Keywords: partnership, lending, financial institutions, financial data
Categories: Banking & Fintech
Companies: FormFree, Freddie Mac
Countries: United States
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Banking & Fintech

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