Apr 19, 2023 | 5 min read
FormFree and Brimma Tech announce partnership to expedite matching of prospective homebuyers with best-fit loan products and lenders
Brent Chandler, founder and CEO of FormFree, will join Brimma’s advisory board
RALEIGH, N.C., April 19, 2023 – Brimma Tech (Brimma), a firm specializing in mortgage software development and solutions, has announced a strategic partnership with FormFree®, a fintech company that focuses on ability-to-pay. The collaboration will involve integrating Brimma’s AI-powered chatbot service with FormFree’s Passport® mobile app. This integration will enable prospective homebuyers to easily discover their ideal loan product using their mobile device, without the need to complete a detailed loan application upfront.
Passport is a platform that provides consumers with a centralized location to manage their entire Financial DNA®, which encompasses their assets, employment information, income, credit score, public records, and rent payment history. The platform simplifies the process of sharing this information securely with lenders when seeking a mortgage loan or other financial services.
Brimma, established in 2016, is a recognized Solution Provider Partner for ICE Mortgage Technology® that assists mortgage lenders in enhancing their technology investments with tailored business optimization solutions. Brimma’s Vallia Chat platform overcomes the disconnect between a lender’s loan origination system (LOS) data and the individuals who require it. It enables loan officers and borrowers to ask questions in everyday language and receive clear answers.
"We’re thrilled to partner with Brimma Tech to enhance our Passport mobile app with conversational interactions that expedite the matching of prospective homebuyers with best-fit loan products and the lenders that provide them," said Brent Chandler, Founder and CEO of FormFree. As part of this partnership, Chandler will join Brimma's advisory board. He further added that by working together, they can offer consumers and lenders even more precise and timely data to aid in informed lending decisions.
In the words of Brimma's CEO, Supree Periasamy, “We are excited to join forces with Brent and his team to combine FormFree’s industry-leading ability-to-pay analytics with Vallia Chat’s comprehensive understanding of loan underwriting guidelines and sophisticated parsing of borrower interactions. We also welcome Brent to our advisory board, where his experience will be invaluable as we continue to innovate and enhance our offerings in the financial technology space.”
Official Press Release
About Brimma Tech:
Brimma Tech is a software development company that specializes in building innovative software products, including enterprise software, web applications, and mobile apps. The company’s global team of developers and engineers have expertise in a wide range of technologies, including artificial intelligence and machine learning. Brimma Tech works with clients across industries to leverage its broad solution catalog as well as to develop custom software solutions that meet their unique needs. Learn more: https://brimmatech.com/.
FormFree helps lenders understand credit risk like never before with its patented Passport® product, which opens doors to more inclusive credit decisioning by revealing each customer’s true ability to pay (ATP®), and patent-pending Residual Knowledge Income Index™ (RIKI™), an innovative method for evaluating consumer creditworthiness based on residual income analysis.
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