FormFree, a fintech company, has been designated a third-party service provider for automated income and asset assessment capabilities with Freddie Mac. The announcement was accompanied by Freddie Mac’s unveiling of new enhancements to Loan Advisor, Freddie Mac’s set of integrated software applications designed to lower costs in the origination process and assist lenders in the acquisition of relief from certain representations and warranties.
Freddie Mac’s automated asset and income assessment capabilities are currently available in limited release, and the government-sponsored enterprise (GSE) said it plans to make its asset offering available to the public-at-large before the end of 2018. FormFree direct deposit income assessment capabilities are expected to debut in early 2019. Both capabilities will be accessible via Loan Product Advisor, itself a part of Loan Advisor.