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BeSmartee Integrates with FormFree’s AccountChek Asset Verification Service

BeSmartee’s mortgage point-of-sale platform will now be equipped with automated asset verification courtesy of a new partnership with FormFree. The integration of FormFree’s AccountChek service into BeSmartee’s POS solution will further streamline the company’s already low-friction digital loan process as well as give lenders a clearer, more accurate picture of the borrower’s likelihood to pay back the loan.

“By incorporating AccountChek as a point-of-sale process, BeSmartee helps lenders move loans into initial underwriting very quickly, which can cut days off time-to-close,” explained Arvin Sahakian, BeSmartee co-founder. Sahakian also praised the company’s relationships with “Day 1 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 added.

“FormFree makes lending simpler, safer, and faster by streamlining the loan origination process and providing better intelligence on borrowers’ ability to pay,” FormFree founder and CEO Brent Chandler said. “We’re delighted to work with BeSmartee to put AccountChek in borrowers’ hands at the point of sale and give loans the shortest possible path from initial contact to underwriting.” 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 demonstrated its Smart Mortgage solution last year at FinovateSpring 2017. The company leverages 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, eSigned and eDelivered disclosures, and a paid appraisal.

This week’s news is the second major headline from BeSmartee in recent weeks. In March, the company announced a full integration with fellow Finovate alum 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.

Founded in 2007 and headquartered in Huntington Beach, California, BeSmartee was named one of CIO.com’s Fresh Fintech Companies to Watch in 2017. Tim Nguyen is co-founder and CEO.