DEPLOYED TO PRODUCTION February 27, 2020
Passport 3n1 Solution
What is Passport 3n1?
The FormFree Passport 3n1 solution provides verification of a borrower’s assets, income, and employment in one convenient report. Using asset data and extracted data from a borrower’s uploaded paystub, our advanced platform leverages AI, machine learning and natural language processing to deliver a corroborating view into the borrower’s income and employment.
Paystub, Bank Statement
Bank Statement, Paystub, LexisNexis
How does the Borrower experience change if a lender client is configured for Passport 3n1?
Option to upload most recent paystub:
Success message after a paystub is uploaded:
How does the Lender experience change if the lender client is configured for Passport 3n1?
Sample Passport 3n1 Report – completed report
A) Report header includes borrower name, unique report ID, longest history pulled back from bank transactions, loan number, and date of report.
B) Asset summary shows current, 30, 60, and 90-day average balances across all accounts connected within AccountChek by the Borrower.Average balance is calculated by calculating the ending daily balance for each day, and then taking the mathematical average across the period.
C) Employment analysis
D) Income analysis
E) Deposit stream data is pulled from the account with the payroll direct deposit stream.
F) Paystub Data is extracted from the uploaded paystub using OCR technology.
Sample Passport 3n1 Report – paystub and employment analysis still processing
Sample Passport 3n1 Report – paystub not provided
Upcoming enhancements to Passport 3n1
Passport 3n1 Report
Who should I contact with interest to pilot Passport 3n1?
Please reach out to one of our FormFree account representatives!
Christy Moss email@example.com
Gregg Palmer firstname.lastname@example.org
Shawn Crawford email@example.com
Laura Graben firstname.lastname@example.org