COLUMBUS, OH (June 27, 2017) — Corporate One Federal Credit Union today announced it has partnered with automated mortgage transaction technology provider Roostify to offer a streamlined, digital mortgage platform to credit unions and credit union service organizations (CUSOs). Through Corporate One’s offering, credit unions and CUSOs will be able to offer an improved upon and easy-to-use online/mobile mortgage experience that is transparent to and fosters collaboration among all parties involved, including the loan officer, borrower, real estate agents and other relevant parties.
“This partnership aligns perfectly with our strategy to help credit unions succeed in the mobile/digital financial marketplace,” said Corporate One President/CEO Lee Butke. “As we see the continued growth in mortgage lending intersect with the consumer-driven move toward online/mobile purchasing for all financial products, this platform offers credit unions an opportunity to develop a competitive advantage in mortgage lending. Best of all, this solution improves the overall mortgage experience, making it more transparent, efficient and collaborative for everyone involved.”
Credit unions can eliminate days off of the traditional mortgage process with this platform by reducing manual processes and communications. Meanwhile, members get the online/mobile experience they expect in the 21st century: anytime/anywhere access, a clear view into what’s happening with their loan, and faster processing as a result. Specifically, the platform offers:
- A clean, customizable user interface, including the ability to brand the site to each respective credit union that uses it
- Secure, digital document uploading, management and tracking
- Consumer collaboration tools that invite all participants into the process, including the loan officer, borrower and third parties, like real estate agents. Participants can communicate in real-time via instant message, easily track deadlines via a calendar view and remain on the same page and aware of the progress taking place via status updates.
“We are excited to partner with Corporate One and to help credit unions offer their members a better home buying experience,” said Rajesh Bhat, CEO and Co-Founder, Roostify. “Our platform eliminates most of the headaches lenders and consumers associate with obtaining a mortgage. It does this by providing an optimal digital experience to loan officers, borrowers, real estate agents, and third parties, which results in lenders closing more loans in a shortened time frame.”
Corporate One is solidifying its partnership with Roostify after a 12-month plus proof of concept trial period in which Superior Financial Solutions, LLC, a mortgage services CUSO of Superior Credit Union in Lima, Ohio, tested the platform with some of its credit union members.
“We decided to adopt the Roostify digital mortgage platform because we found using it made the overall mortgage process so much more efficient, helping us complete closings faster,” said Superior Financial Solutions, Senior Vice-President Kurt Neeper. “Thanks to a streamlined application process and a well-developed and thought-out interface that opens up the entire process to everyone involved, we realized an increase in engagement and responsiveness that greatly improved the overall experience.”
“In working with Superior Financial Services, Corporate One was able to learn the distinct value a solution like this could provide to credit unions,” said Keith Riddle. “Mortgages are Superior Financial Services line of business; it’s what they do. So, it’s a real testament to the platform that Superior Financial decided to use it long term after testing it for us. I think their decision to do so will speak volumes to other credit unions as we begin to talk to them about the opportunity that exists in digital lending.”
Corporate One’s offering will be scalable, with three options from which to choose, so credit unions of all sizes may leverage it. The top tier, or the Enterprise level, was designed to also accommodate CUSOs that specialize in mortgage lending and servicing.
About Corporate One
Corporate One Federal Credit Union is one of the nation’s largest and most progressive corporate credit unions with more than $5.5 billion in assets under management, serving nearly 900 credit unions nationwide. Corporate One offers credit unions a full menu of payments, investments and funding services to help credit unions grow their bottom lines, the foundation of which is The One Account, an integrated cash management solution. Additionally, Corporate One founded and manages Clique, the only debit and credit card services program tailored to the unique needs of small to mid-sized credit unions. Corporate One also created SimpliCD, the brokered certificate of deposit program used by a majority of credit unions nationwide, and Alliance One (allianceone.coop), one of the nation’s largest non-network-specific ATM selective-surcharging groups. For more information on Corporate One, please visit www.corporateone.coop.
Founded by three technologists frustrated with their home buying experiences, Roostify enables a more efficient, transparent mortgage process for lenders, agents and homebuyers. Roostify’s software platform is trusted by prominent banks and mortgage brokers nationwide to deliver more loan volume, faster closes and happier customers. Roostify is backed by private investors, and headquartered in San Francisco. For more information, please visit www.roostify.com.