MortgageProptech

Roostify and ICE Mortgage Technologies partnership expected to boost e-closings

Home lending proptech Roostify announced it is partnering with ICE Mortgage Technology – part of Intercontinental Exchange (NYSE: ICE) – to deliver a hybrid e-close option within Roostify’s platform for its Encompass users.

ICE Mortgage Technology’s eClose solution will be integrated into Roostify’s digital home lending platform, enabling a system-to-system delivery of preliminary and closing disclosures for immediate e-signatures.

“By teaming up with Roostify and its efficient bi-directional portal, we’re providing a much better, simpler experience for borrowers, while also enabling huge efficiencies for lenders through our single workflow in Encompass,” Parvesh Sahi, Senior Vice President of Business and Client Development at ICE Mortgage Technology.

Roostify, a San Francisco-based digital lending platform provider, announced its integration with Ellie Mae‘s Encompass lending tech in 2018. Through that integration, lenders are able to easily pass information between the two systems.

When the closing package is created in the Encompass loan origination system during the closing process, Roostify’s system will be notified, authenticate the task, and send the requirements to the borrower.

When the borrower signs into their lender’s instance of the Roostify portal, they can then review and sign the required documentation directly from the platform with no additional logins, passwords or platforms required.

“This alliance furthers the mission of both Roostify and ICE Mortgage Technology by delivering a simple home lending experience that fits every client perfectly,” says Roostify Cofounder and CEO Rajesh Bhat.

Founded in 2012, Roostify has unveiled a slew of new product options and integrations over the years. Most recently, the company released its “first of many” APIs on its existing lending platform built to automate document validation and data extraction in the lending process.

The latest tech, coined Roostify Document Intelligence (RDI) Service, uses AI to classify, validate and extract data from mortgage-related documents.

Prior to Thursday’s integration with ICE Mortgage Technologies, Roostify integrated its tech stack with Lender Price for Roostify users to gain access to the proptechs product pricing eligibility engine (PPE). Through that integration, Roostify borrowers and loan officers were able to benefit from the loan calculation capabilities in comparison shopping and selection through the platform.

As for ICE Mortgage Technologies, the digital mortgage product behemoth has integrated with countless lenders and proptech’s including Blend, Qualia, Clear Capital, ClosingCorp and Total Expert.

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