BeSmartee integrates with FormFree’s AccountChek asset verification service
BeSmartee and FormFree team up
BeSmartee’s mortgage point-of-sale (POS) platform will now be equipped with automated asset verification, courtesy of a new partnership with FormFree, writes David Penn at Finovate. The integration of FormFree’s AccountChek service into BeSmartee’s POS solution will give lenders a clearer, more accurate picture of the borrower’s likelihood to pay back the loan, the two companies say.
“By incorporating AccountChek as a POS process, BeSmartee helps lenders move loans into initial underwriting very quickly, which can cut days off time-to-close,” explains Arvin Sahakian, BeSmartee’s co-founder. Sahakian also praises the company’s relationships with “day one certainty vendors” like FormFree which provide “ready out-of-the-box” solutions that further speed BeSmartee’s onboarding process. “BeSmartee’s onboarding process is weeks shorter than competitors,” he adds.
AccountChek is used by companies like Fannie Mae, and is in pilot for single source validation, an enhancement to Fannie’s DU validation service that enables lenders to get asset, income, and employment validation in a single, automated report from AcccountChek.
BeSmartee leverages artificial intelligence (AI) to provide lenders with an advanced origination process that takes customers from initial contact to underwriting in 20 minutes – including completed loan application, credit report, income/asset documentation, e-signed and e-delivered disclosures, and a paid appraisal.
In March, the company announced a full integration with Finicity, incorporating the real-time data aggregation and insights specialist’s Verification of Assets (VoA) solution into BeSmartee’s origination platform. Last year, BeSmartee forged a partnership with automated mortgage technology company DocMagic, teamed up with mortgage technology solutions provider Mortech, and worked with Matic Insurance Services to help consumers find the best homeowners insurance policy for their needs.
BeSmartee was founded in 2007 and is headquartered in Huntington Beach, California. Tim Nguyen is co-founder and CEO.
