Stewart Enhances Credit and Mortgage Analytics Capabilities by Acquiring AccountChek, a Leading Digital Asset, Income and Employment Verification Platform

Rhea-AI Summary

Stewart Information Services Corporation (NYSE:STC) announced the acquisition of the AccountChek® platform from FormFree. This digital verification service enhances the company's ability to provide streamlined insights into consumer financial profiles, focusing on asset, income, and employment verification. The integration aims to simplify the lending process, improve loan underwriting efficiency, and expand access to mortgage credit, particularly for underserved populations. Stewart's CEO, Fred Eppinger, emphasized the acquisition's role in enhancing consumer financial equity including homeownership.

Positive

• Acquisition of AccountChek enhances verification services for consumers.
• Streamlined loan underwriting process expected to improve closing ratios.
• Will expand access to mortgage credit for underserved populations.

Negative

• None.

Acquisition expands ability to service customers and expedites the lending process while improving consumer financial equity, including homeownership

HOUSTON--(BUSINESS WIRE)-- Informative Research (IR), a subsidiary of Stewart Information Services Corporation (NYSE:STC), today announced the acquisition of the AccountChek® platform previously offered by FormFree. AccountChek is a digital verification of asset, income and employment service that drives insight into a consumer’s financial profile and is available to customers through multiple channels.

“At Stewart, we are continually investing in our capabilities to better serve customers. We view improving consumer financial equity, including homeownership, as a key part of the work that we do, across all our business lines,” said Fred Eppinger, Stewart CEO. “IR’s vision through the combined platform is to simplify the lending process and improve closing ratios.”

The combined IR platform and AccountChek platform creates a single solution to digitally verify consumer financial data, including credit, income, employment, and assets. The solution will allow customers to streamline their loan underwriting process, efficiently qualify borrowers, improve closing ratios, and expand access to mortgage credit.

“This is an exciting day for the IR team, as we gain the experienced, knowledgeable, and well-respected AccountChek team. The AccountChek platform supports IR in providing customers with unmatched analytics and verification solutions,” said Sean Buckner, President, Informative Research. “The combined platform, including AccountChek, creates additional opportunities to streamline loan processes, while ensuring business continuity for existing customers.”

“We’re leaving AccountChek in great hands, and we look forward to continued partnership with IR during our next chapter as we work to create new avenues for lenders to responsibly serve credit invisibles and other underserved populations,” said FormFree Founder and CEO Brent Chandler.

About Stewart

Stewart (NYSE:STC) is a global real estate services company, offering products and services through our direct operations, network of Stewart Trusted Providers™ and family of companies. From residential and commercial title insurance and closing and settlement services to specialized offerings for the mortgage and real estate industries, we offer the comprehensive service, deep expertise, and solutions our customers need for any real estate transaction. At Stewart, we are dedicated to becoming the premier title services company and we are committed to doing so by partnering with our customers to create mutual success. Learn more at stewart.com.

ST-IR

View source version on businesswire.com: https://www.businesswire.com/news/home/20230301005236/en/

John Chattaway, Stewart Media Relations

(713) 625-8180; mediarelations@stewart.com

Source: Stewart Information Services Corporation