Roostify and Ellie Mae team up for lendtech efficiency
The partnership, in the words of Roostify’s VP of products, Sandeep Aji, “makes it easier than ever for lenders to move loans forward faster with fewer manual touches, reducing operating costs and further improving the consumer experience”.
Applications created in Roostify will automatically appear in Ellie Mae’s Encompass platform thanks to the new integration, and documents created in Encompass can be read and signed in Roostify. Uploaded documentation such as bank statements also will be accessible on both platforms.
“We believe our customers will benefit significantly from this integration that will improve the loan process for consumers and lenders alike,” says Mark McLaughlin, SVP of business development for Roostify.
Roostify says its solutions help firms from enterprise banks to independent brokerages close faster, reduce excess paperwork, and give mortgage consumers a smoother, end-to-end experience. Supporting digital customer acquisition with a self-service component that enables loan applicants themselves to fulfil much of the loan process, Roostify’s platform has transacted billions of dollars in mortgages and helped close thousands of home loans across the US.
This August, Roostify unveiled Adapt, a tool to help mortgage lenders with complex workflows to improve process management, and announced a new CFO, Eric Amblard. The previous month, Roostify partnered with Colonial National Mortgage, improving the online experience for customers of the Texas-based financial institution.
Roostify has also raised $33 million in funding, and includes Cota Capital and USAA among their investors. The company was founded in 2014 and is headquartered in San Francisco, California.
A provider of cloud-based mortgage financing solutions, Ellie Mae processes 35% of all US mortgage applications. It was founded in 1997 and is headquartered in Pleasanton, California.
In August, Ellie Mae announced a partnership with First Data to make it easier for Ellie Mae customers to securely accept payment for loan origination and other costs. In May, the company teamed up with fellow Finovate alum, Blend, which will integrate Ellie May’s electronic disclosure delivery technology. Other partnerships forged this year include pacts with Lender Price, Pacific Union, and COCC.
Ellie Mae trades on the New York Stock Exchange and has a market capitalisation of $2.8 billion. Jonathan Corr is CEO.