DEPLOYED TO PRODUCTION June 23, 2020
AccountChek Plus report
FormFree released the AccountChek Plus report on June 23, 2020. The new AccountChek Plus report is one report with three verifications: asset, income, and employment – all driven from secure, consumer-permissioned access to the borrower’s bank account data. [Download a sample AccountChek Plus report at the bottom of this page.]
No new actions are required from the borrower or lender to capture AccountChek Plus data; the new report is generated from the existing AccountChek Verification of Asset (VOA) process. Currently, the VOA portion of this report is eligible for rep and warrant relief through the Fannie Mae Day 1 Certainty's Desktop Underwriter(r) (DU) Validation Service (DVS) and Freddie Mac Loan Product Advisor (r) Asset Income Modeler (AIM) programs.
What to Expect in the AccountChek Plus report
The new AccountChek Plus report includes analysis of income and employment, a high-level asset summary, and the full VOA. There is one AccountChek Plus report per borrower. The VOA portion of the report remains unchanged; the VOA portion is eligible for rep and warrant relief through the Fannie Mae D1C and Freddie Mac AIM programs.
There are 6 main sections in the AccountChek Plus report, all delivered to the lender in one PDF file:
The AccountChek Plus report includes the VOA report and is delivered in the same PDF file as the VOA:
The standard VOA report is unchanged. Please note: Lenders whose asset data is validated through AccountChek Day 1 Certainty® from Fannie Mae and Freddie Mac's Loan Product Advisor Asset-Income-Modeler (AIM) may receive rep and warrant relief. Income and employment are not eligible.
How to Gain Access to AccountChek Plus
For lenders already receiving the AccountChek VOA report, a simple configuration change on the FormFree side will turn on instant access to the AccountChek Plus report. No additional integration or technical changes are required from the lender.
Please contact your FormFree account rep or firstname.lastname@example.org to sign up for AccountChek Plus and discuss any contract or pricing details.
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