As a provider of origination workflow automation tools, Roostify provides lenders across the US a platform that allows consumers to apply for a mortgage, submit documentation, and follow the loan’s progress online. With its partnership with ServiceLink, the company now adds capabilities to its platform such as scheduling an appraisal, applying for a title policy, and scheduling a closing.
Under the agreement, ServiceLink will extend its ClosingShield and EXOS technologies to Roostify consumers and lenders. ClosingShield is a title program that allows consumers to instantly receive title approval. Eligible transactions receive instant commitment and a clear-to-close following an evaluation of borrower information and title data.
EXOS is a suite of digital technology that allows users to schedule an appraisal immediately after a mortgage application is approved. Consumers in EXOS-enabled markets will instantly receive information of available appraisal appointment schedules. Consumers can also use EXOS to schedule a closing appointment.
"ServiceLink's partnership with Roostify will improve the overall consumer and lender mortgage experience through enhanced technology and truly change the way settlement services are ordered and managed," ServiceLink CEO Chris Azur said. "By streamlining and connecting the steps in the mortgage loan process, lenders will see reduced time to close, a reduction in process time, better pull-through rates, and high consumer satisfaction."
"Consumers are continually frustrated with the mortgage process when time is wasted on each small task that can be easily automated for increased efficiency," Roostify CEO and co-founder Rajesh Bhat said. "Our partnership with ServiceLink brings added efficiency to our platform, allowing lenders to provide a shorter timeline to closing for their customers, along with a better overall experience during what is already a stressful time."
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Roostify has partnered with transaction services provider ServiceLink to enhance its automated lending platform.