The FormFree Exchange (FFX) by FormFree is a financial marketplace designed to streamline the connection between lenders and borrowers, prioritizing efficiency and consumer control. By leveraging verified financial data through FormFree’s Passport service, FFX ensures borrowers are financially ready to transact while allowing lenders to bypass unqualified leads. The platform operates in compliance with TCPA and Rule 1033, giving consumers complete control over their data and anonymity during the matching process.
Through the Passport service, borrowers can share comprehensive financial data — including assets, income, employment and credit history — in seconds, generating a financial identity report that includes a Residual Income Knowledge Index (RIKI) and a borrowing power estimate. Passport integrates with platforms like Realtor.com, attracting high-intent borrowers into the FFX ecosystem. Lenders in FFX use predefined loan parameters to receive automatic matches with borrowers who fit their criteria. Borrowers are presented with up to three lender options, ensuring compatibility and improving application-to-close rates.
Since its launch in April 2024, FFX has demonstrated significant impact, with a 22% lead-to-application conversion rate and an average loan amount of $265,546. The marketplace now includes 35 lenders, a 218% increase from early 2024. FFX provides lenders with a bias-free, efficient way to connect with ready borrowers while empowering consumers with data control.
