Stewart Information Services Corporation has announced the acquisition of AccountChek, a digital platform that verifies assets, income, and employment, from FormFree. The undisclosed amount was paid through the subsidiary of Stewart, Informative Research (IR), and the two platforms will be combined to enhance the lending process, improve the ratio of closing, and simplify it.
Fred Eppinger, the CEO of Stewart, stated that improving consumer financial equity, particularly homeownership, is a key aspect of the business, and they are investing in their abilities to better serve customers continually. The IR and AccountChek platform allow users to verify consumer financial data, such as credit, income, employment, and assets. It also streamlines the underwriting process, qualifies borrowers more efficiently, expands access to mortgage credit, and improves the closing ratio.
Sean Buckner, the President of Informative Research, said that it is a thrilling day for the IR team as they get the experienced, knowledgeable, and respected team of AccountChek. The platform of AccountChek provides unmatched analytics and verification solutions that help IR provide customers with streamlined loan processes while maintaining business continuity for existing customers. The acquisition by Stewart will help them provide better service to their customers.
Brent Chandler, the CEO, and Founder of FormFree, said that they are excited to leave AccountChek in good hands and are looking forward to a continued partnership with IR while opening up new opportunities for lenders to serve underserved populations and credit invisibles in a responsible manner. The acquisition of AccountChek by Stewart follows its acquisition of BCHH, a title agency in December. Title insurance and settlement services for both residential and commercial properties are provided by BCHH.
The acquisition of AccountChek by Stewart is a significant move towards improving the process of lending and enhancing access to mortgage credit. The combination of AccountChek with IR will create additional opportunities for streamlining the loan process while ensuring business continuity for existing customers. The acquisition reflects Stewart’s commitment to continuously investing in their capabilities to better serve their customers, including improving consumer financial equity, such as homeownership.