FormFree announced its expanded partnership with Envestnet | Yodlee, a leading data aggregation and data analytics platform powering dynamic, cloud-based innovation for digital financial services. By leveraging Envestnet | Yodlee Risk Insight Solutions, FormFree will have access to new data points that help to reinforce its position as provider of the most complete and reliable asset, employment and income verification reports in the mortgage industry.

The Envestnet | Yodlee Risk Insight Solutions deliver reports designed to provide insight into a consumer's holistic financial picture, utilizing aggregated data from over 16,000 sources, including banking, investment, loan and credit card information. This comprehensive data allows FormFree to enhance its AccountChek reports with bank statement copies that meet Federal Housing Administration requirements. The data will also enable FormFree to fine-tune its analysis of borrower ability to pay with thousands of new rules.

FormFree was the first asset verification provider approved for participation in Fannie Mae's Day 1 Certainty initiative, which gives lenders who use the Desktop Underwriter Validation Service reps and warrants relief for validated loan components while delivering a faster and simplified borrower experience. FormFree is also a key participant in Fannie Mae's ongoing Single Source Validation pilot, which will allow mortgage lenders to validate borrower income, asset and employment data through a single report as early as 2018.

"We believe the breadth of Envestnet | Yodlee's financial data across banking and wealth management from tens of millions of consumers far surpasses the competition," said FormFree Founder and CEO Brent Chandler. "By combining Envestnet | Yodlee's track record of secure and accurate financial account aggregation with FormFree's decade of mortgage industry experience, we are bringing lenders unparalleled insight into their borrowers' ability to pay. Based on the research we conducted, the other options in the marketplace don't even compare."

"FormFree's partnership with Envestnet | Yodlee leverages our established platform and extensive data relationships to build better asset, income and employment analytics for lenders," said Michael Burger, vice president of product management for Envestnet | Yodlee. "Lenders participating with us in Fannie Mae's Single Source Validation pilot are already experiencing the powerful combination of Envestnet | Yodlee's Risk Insight Solutions and FormFree's AccountChek verification report."