San Francisco, Calif. (June 11, 2014) - Roostify a provider of automated real estate transaction technology, today announced that it has signed a partner license agreement with Ellie Mae (NYSE: ELLI), a leading provider of innovative on-demand software solutions and services for the residential mortgage industry. The agreement enables Roostify to integrate their collaboration and communication services into the Ellie Mae Network™ which facilitates the secure transfer of data from and the Encompass® mortgage management solution, currently used by more than 94,000 mortgage professionals.
Developed by technology, real estate, and mortgage banking experts, Roostify’s secure interface allows borrowers to easily apply for a mortgage and all parties involved to share and track information, documents, and events through closing. Through Roostify, lenders using Encompass will be able to provide their borrowers with intuitive, step-by-step instructions for completing their online mortgage application through a dynamically generated list of the required documentation, which can be quickly uploaded or gathered automatically from aggregated online data sources.
“At a time when government regulators are making an effort to improve transparency in the home buying process, it makes a great deal of sense for lenders and their technology partners to invest in consumer-friendly workflow solutions, like Roostify, that demystify the process and improve the ability of lenders and borrowers to collaborate,” said Roostify CEO Rajesh Bhat. “Ellie Mae’s suite of solutions has dramatically improved the lending process and the fact that such an important industry player is partnering with Roostify demonstrates that the industry sees us as a vital part of the borrower-friendly future.”
Roostify’s services provide another means of gaining transparency that, spans every stage of the transaction, from submission and loan origination to closing. This includes streamlined processing of the application form; the gathering and filing of disclosure documents; and the scheduling and management of key events. For all parties – including borrowers, real estate agents, and lenders – the end result is a smoother, more pleasant and transparent process as well as faster times to close.
“We welcome Roostify to the Ellie Mae Network and believe our relationship is another example of Ellie Mae’s commitment to providing our clients with products and services that are focused on increasing collaboration, efficiency and quality throughout the origination process,” stated Joe Tyrrell, Ellie Mae’s senior vice president of corporate strategy.
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. Drawing on the expertise of real estate and mortgage banking veterans, Roostify provides a new web and mobile service that benefits borrowers, lenders, and agents. Roostify is headquartered in San Francisco, California, and is backed by private investors.
About Ellie Mae, Inc.
Ellie Mae (NYSE:ELLI) is a leading provider of innovative on-demand software solutions and services for the residential mortgage industry. Ellie Mae’s end-to-end Encompass® mortgage management solution provides one system of record that allows banks, credit unions and mortgage lenders to originate and fund mortgages and improve compliance, loan quality and efficiency. Visit EllieMae.com or call 877.355.4362 to learn more.
Ellie Mae®, Encompass® and Ellie Mae Network™ are registered trademarks or trademarks of Ellie Mae, Inc. or its subsidiaries. All rights reserved. Other company and product names may be trademarks or copyrights of their respective owners.