Making the loan origination more efficient is the goal of any firm that provides mortgage solutions to community banks and credit unions. This helps explain the decision by Mortgage Bankers-owned PCLender to integrate with Roostify’s mortgage-transaction platform.
Roostify’s CEO and cofounder Rajesh Bhat says their platform “eliminates most of the headaches for lenders and consumers in the home-buying process, allowing lenders to close more loans in a shortened time frame and provide an optimal digital experience to consumers, real estate agents, and third parties.”
Speaking for PCLender, CEO Lionel Urban called the loan-application process “a sore spot” very much in need of a “technological update.” He praised the partnership with Roostify as an opportunity to provide a less stressful data- and documentation-collection process for both borrowers and lenders.
Pictured (left to right): CTO Jonathan Kirst and Nathaniel Sokoll-Ward, head of product, demonstrated Roostify’s platform at FinovateSpring 2016.
Roostify makes the home-buying experience easier for both borrowers and lenders. Available as a web and mobile technology, Roostify’s platform can be used by mortgage brokers to guide homebuyers through the process, step-by-step, from initial application to closing the sale. “We believe home buying should be fast, easy and transparent,” Nathaniel Sokoll-Ward, head of product for Roostify, said from the Finovate stage this spring. He noted that Roostify is available as a white-label solution, and can be either fully customized for a client’s specific needs or as a solution that can be up and running “literally overnight.” Sokoll-War added that clients using the platform have “routinely reported cost savings of 10-15% per loan.”
Founded in 2014 and headquartered in San Francisco, California, Roostify demonstrated its technology at FinovateSpring 2016. Recent headlines for the company include the announcement this spring that Genworth Mortgage Insurance would use Roostify’s technology to digitize its home-buying process. In February, Roostify announced an integration with zipLogix that will make it easier to pull data and documents into its system. The company began the year by adding new talent to its management team, naming Iyad Darcazallie, as both CFO and COO, and Scott Stein as vice president of sales. Roostify has raised $8 million in funding, and includes USAA, Tier 1 banks, and Colchis Capital Management among its investors.