This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

FORMFREE, Equifax Partner To Streamline Borrower Asset Checks

Alliance Adds Automated Verification of Deposit and Asset (VODA) Service to the Equifax Set of Solutions

Digital Bank Reports Reduce Borrower Fraud and Wasteful, Paper-Based Processes

ATHENS, Ga., Oct. 21, 2013 (GLOBE NEWSWIRE) -- FORMFREE, a provider of technologies that help financial institutions determine the ability of their customers to pay back loans, and Equifax Workforce Solutions (NYSE:EFX), a global provider of human resource and verification services, have formed a strategic referral partnership through which Equifax will offer the ACCOUNTCHEK service, the mortgage industry's leading automated verification of deposit and asset (VODA) solution.

Used by mortgage lenders and other providers of consumer credit, ACCOUNTCHEK automates the verification of a borrower's deposits and assets in the loan process by providing instant digital statements from more than 15,000 financial institutions. ACCOUNTCHEK delivers VODA reports in minutes through a secure web and mobile portal, eliminating the need for borrowers to submit endless paper copies of bank statements while reducing loan file errors and potential fraud.

Equifax offers asset verifications to its customers through manual processes, but will be adding ACCOUNTCHEK as a digital alternative. The ACCOUNTCHEK service is completely paperless and connects lenders directly to virtually any financial institution where a borrower holds an account.

"By partnering with FORMFREE, we will be able to empower our verifier clients with immediate access to digital account statements when authorized by the applicant, thus helping them close loans more quickly and provide a better overall consumer experience," said Michael Kuentz, senior vice president for Equifax Verification Services. "In today's lending environment, where reducing fraud, using verified data, and ensuring borrower authenticity are paramount, ACCOUNTCHEK is a great solution to add to our offerings."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,812.19 +19.51 0.11%
S&P 500 2,089.14 +2.55 0.12%
NASDAQ 5,102.8080 +0.33 0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs