Partnership aims to address innovation and efficiencies in the housing industry
Richmond, Va. (March 15, 2016) - Genworth Mortgage Insurance (“Genworth”), a subsidiary of Genworth Financial, Inc. (NYSE: GNW), today announced it has forged an exclusive partnership with Roostify.
Roostify’s platform gives consumers the power to submit a complete and accurate application in under 20 minutes, allowing loan officers to spend more time focused on closing loans rather than searching for information and documents. It also serves as a networking tool, allowing for interaction among loan officers, real estate agents, underwriters, and consumers all in one digital hub.
“The mortgage origination space is really just starting to benefit from technology advancements and Genworth is laser-focused on staying ahead of the technological curve,” said Kevin McMahon, SVP Strategy & Business Intelligence, Genworth Mortgage Insurance. “Being the first mortgage insurance provider to integrate with a partner like Roostify greatly enhances Genworth’s existing offerings. We’re focused on helping our customers grow their business and drive origination process efficiencies. A platform of this scale is particularly timely and valuable given demand for new homes is steadily increasing.”
With the new technology, loan officers using the Roostify platform can also process originations via their mobile devices. Furthermore, the platform can be white-labeled and customized with each lender’s branding, style, and product offerings. Below are some additional benefits to using Roostify’s platform via Genworth’s partnership:
Lenders: Lenders are provided with the ability to automate loan documentation and closing activities to reduce costs and increase conversion of apps into closed loans.
Loan Officers: Loan officers can seamlessly share and track critical information with their homebuyers and partners to create a positive customer experience.
Homebuyers: Homebuyers receive a better, faster and less stressful experience with step-by-step guidance in the loan application and closing process.
Genworth’s partnership with Roostify is a sign of the changing mortgage origination landscape, which Roostify has been instrumental in advancing.
“Roostify is answering the call to simplify the consumer home lending experience, as streamlined, cutting-edge mortgage origination solutions become a necessity rather than a luxury,” said Rajesh Bhat, Co-Founder and CEO, Roostify. “Our partnership with Genworth aims to address a sizeable need for innovation and improved efficiencies in the housing industry.”
Roostify was founded by three technologists frustrated with their individual home buying and re-financing experiences who believed there was a more efficient, open way to complete transactions. They leveraged the expertise of real estate and mortgage banking experts to develop this new web and mobile service that benefits agents, lenders and homebuyers. Roostify is headquartered in San Francisco, California, and is backed by private investors. For more information, visit: www.roostify.com.
About Genworth Financial
Genworth Financial, Inc. (NYSE: GNW) is a Fortune 500 insurance holding company committed to helping families achieve the dream of homeownership and address the financial challenges of aging through its leadership positions in mortgage insurance and long term care insurance. Headquartered in Richmond, Virginia, Genworth traces its roots back to 1871 and became a public company in 2004. For more information, visit: www.genworth.com