Key integration accelerates transactions for borrowers and lenders working with Fannie Mae
San Francisco, Calif. (March 19, 2015) - Roostify (www.roostify.com), a provider of automated mortgage transaction technology, today announced an important integration with Federal National Mortgage Association/ Fannie Mae (OTCBB: FNMA), allowing Roostify customers to streamline applications into Desktop Underwriter® (DU®), Fannie Mae's automated underwriting system.
The Roostify integration with Fannie enables Roostify users to:
Leverage Roostify's consumer integrations to deliver a pristine mortgage application directly into DU for pre-approval
Obtain DU findings and conditions upstream in the origination process
Reduce the timeframe and steps needed to approve and process a loan application
"We are excited to work with innovative companies like Roostify to improve the integrity and efficiency of mortgage originations," says Stephen Pawlowski, SVP of Strategic Innovations, Business & Technology, Fannie Mae.
Roostify's web based platform makes it possible for consumers to create a verified loan package in minutes, and provides loan officers the ability to collaborate in real-time with all involved parties. The result is that Roostify customers close loans materially faster.
"This integration with Fannie Mae is a huge step forward for Roostify in providing our customers with even more tools to streamline the loan process and ultimately create an unparalleled customer experience for borrowers," said Rajesh Bhat, CEO of Roostify. "Providing the consumer with unprecedented access to and control over the origination process is a major leap towards achieving our vision of a fully digitized home purchase experience."
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.