Simplify Bank Statement Gathering with an Improved AccountChek™ Workflow

floify accountchek bank statement upgrade

Floify’s integration with VOA provider AccountChek™ by FormFree just became much more powerful!

AccountChek’s Day 1 Certainty™-approved asset verification service eliminates the hassle of collecting paper statements from borrowers by using data sourced directly from financial institutions to securely analyze and verify assets in minutes.

A recent round of updates to our integration has brought significant improvements to the borrower’s experience, increased company-level controls for lenders, as well as providing loan originators with a more robust report when requesting bank account information, including the asset report, verification of deposits, AND historical bank statements.

New Template Document Type: Bank Accounts Request

When the AccountChek integration is active on an account, origination teams will see a new template document type become available for use in their Floify settings.

By utilizing the new template document type, originators gain several advantages over the one-off AccountChek order. First, as opposed to one-off docs, the Bank Accounts Request document type is afforded all of the benefits of template documents.

Template documents can be added to an existing loan flow quickly and easily without the on-the-fly configuration needed for one-off doc requests. They can also be added to quick packs for streamlined loan flow creation or leveraged via business rules as an automatic document request after a loan application is submitted.

The second major value of the Bank Accounts Request template document is the new user interface that borrowers will experience when responding to the request.

floify accountchek borrower user interface

The Bank Accounts Request template document creates an all-new, simplified workflow that combines both automatic and manual statement uploads into one consolidated request-and-response for borrowers.

Borrowers will have the option to add their accounts via online banking, using the integrated AccountChek interface to search, input credentials, and pull in their direct source bank information, or to manually upload any number of account statements necessary to fulfill the request.

Once the borrower is satisfied that they have added all bank accounts, they can finish and submit their documentation to initiate the AccountChek process.

floify accountchek submit bank account statements

Floify will instantly push bank statements into the loan flow’s yellow bucket to await originator approval, and AccountChek reports will be seamlessly delivered to the flow’s green bucket.

Company-Level AccountChek™ Credentials and Defaults

floify accountchek company level credentials

Lenders now have the option to configure AccountChek™ at the company-level. By entering the credentials for a company account, the Lender can provide access to AccountChek for all of the origination teams under their company dashboard.

At the team level, the origination team is given the option to utilize the company account or enter and use their own unique AccountChek account credentials.

Lenders can also configure AccountChek report ordering defaults to set and enforce minimums for the historic statement pull period and monitoring refresh period.

Credit Technology, Inc. Integration

credit technology inc mortgage credit report integration

Floify recently added an integration with Credit Technology, Inc to our catalog of over 50 credit reporting agency apps.

The app connects seamlessly to a LOs existing Credit Technology account to allow for the ordering of prospect credit information directly from within Floify. With reports also being delivered to the Floify loan flow, the app lets originators using Credit Technology to centralize the credit reporting portion of their document collection and management workflow in one single location: Floify.

Credit report pulls can be automated to occur when a Floify 1003 loan application is submitted or can be easily ordered on a one-off basis from the corresponding Floify loan flow.

Start or Finish a Loan Application from an Active Loan Flow

To further cement Floify’s status as the one-stop hub for your borrower’s loan file documentation, we recently unveiled an update to the loan flow user interface that makes it incredibly easy for borrowers to start, or revisit, a loan application, directly from their portal.

This simple and intuitive update makes it that much easier for borrowers to stay accountable and to complete their loan application while only ever having to navigate to one centralized location.