PITTSBURGH, (Sept. 27, 2017) - ServiceLink, the premier national provider of transaction services to the mortgage and finance industries, announced today a partnership with Roostify, a provider of automated lending technology, which will extend the digital experience for lenders and consumers alike. ServiceLink's innovative technology will now seamlessly connect with Roostify's process so that lenders, consumers, and all mortgage participants can collaborate throughout the entire mortgage process via a singular, digital platform. Digitizing the origination process provides lenders with many benefits including reduced costs and increased efficiency.
"ServiceLink's partnership with Roostify will improve the overall consumer and lender mortgage experience through enhanced technology and truly change the way settlement services are ordered and managed," said Chris Azur, CEO of ServiceLink. "By streamlining and connecting the steps in the mortgage loan process, lenders will see reduced time to close, a reduction in process time, better pull-through rates and high consumer satisfaction."
The Roostify platform is used by lenders across the United States to allow consumers to apply for a mortgage, submit documentation and follow his/her loan's progress online. While Roostify provides automation tools for origination workflows related to documentation, verification and communication, until now, tasks such as scheduling an appraisal, applying for a title policy, and scheduling a closing were still largely manual. Now, ServiceLink's technologies, such as ClosingShield and EXOS, will extend the digital experience for Roostify consumers and lenders, expanding efficiencies and benefits throughout the transaction while providing immediate feedback on loan complexity and an estimated time to close. This will vastly improve the consumer experience while also improving the rate lock scenario evaluation for lenders.
Through ClosingShield, ServiceLink's next generation, streamlined title program, consumers will be able to instantly receive title approval. With one click, borrower information and title data is evaluated, and eligible transactions will receive an instant commitment and a clear-to-close.
EXOS, ServiceLink's suite of proprietary digital technology, will offer Roostify users the ability to schedule an appraisal immediately following mortgage application approval. If the consumer is located in an EXOS-enabled market, the consumer will instantly be provided with times as to when an appraisal appointment can be scheduled, beginning with the very next day. EXOS is already in use by hundreds of lenders nationwide, and tens of thousands of appraisals have been processed through the EXOS platform since its market roll-out began in August 2016. Consumers can also use EXOS to schedule his/her closing appointment.
"We are excited to partner with Roostify to change how consumers engage throughout the mortgage origination process," said Dan Sogorka, executive vice president of sales and strategy for ServiceLink. "This is the beginning of a number of massive changes that will put the consumer first, simplify and streamline manual processes for the lender, and ultimately redefine the mortgage experience."
Sogorka will take part in a panel during Roosticon, Roostify's one-day event for customers and partners to discuss the future of mortgage fulfillment on September 27. He will also participate in a demo of the Roostify and ServiceLink integration, led by Roostify, during the Digital Mortgage Conference hosted by National Mortgage News on September 28 and 29.
"Consumers are continually frustrated with the mortgage process when time is wasted on each small task that can be easily automated for increased efficiency," said Rajesh Bhat, CEO and co-founder of Roostify. "Our partnership with ServiceLink brings added efficiency to our platform, allowing lenders to provide a shorter timeline to closing for their customers, along with a better overall experience during what is already a stressful time."
Roostify is prepared to engage with customers on deployment opportunities of these ServiceLink tools immediately.
ServiceLink is the premier national provider of transaction services to the mortgage and finance industries. ServiceLink delivers valuation, title and closing, and flood services to mortgage originators; end-to-end subservicing to mortgage servicers; and default valuation, integrated default title services, vendor invoicing and claims audit services as well as auction services to mortgage servicers. ServiceLink helps clients in the lending industry and beyond achieve their strategic goals, realize greater efficiencies, and better serve their customers by delivering best-in-class technology, services, and insight with a relentless commitment to upholding the highest standards of quality, compliance, and service. For more information about ServiceLink, please visit https://www.svclnk.com/
EXOS is a technology solution connecting consumers, realtors, builders and lenders with an expanded virtual community of real estate professionals. Revolutionizing the mortgage process through a mobile app, EXOS reduces cycle times, improves quality and enhances the customer experience. To learn more about EXOS, please visit https://www.exostechnology.com/.
ClosingShield is ServiceLink's next generation of streamlined title product that accelerates speed to close for customer-initiated refinances. ClosingShield leverages a proprietary process that runs algorithms across current data sources from Black Knight Financial Services, Fidelity National Financial, ServiceLink, public data, title plant data, MLS and credit repositories. Responding within seconds, ClosingShield provides an instant clear-to-close decision during the loan application, elimination days of ambiguity related to clearing title. A standard ALTA title commitment follows within hours, and an ALTA short-form or long-form policy will be issued after post-close. To learn more about ClosingShield, please visit https://www.svclnk.com/closingshield/.
Founded by consumers looking for a better way to buy a home, Roostify leads the industry in delivering accelerated and transparent online mortgage experiences. From enterprise banks to independent brokerages, dozens of lenders across the United States trust Roostify to speed up closings, reduce unnecessary work and give their customers a smooth, anxiety-free mortgage experience. Since 2014, Roostify has helped close thousands of home loans nationwide.
Roostify is privately funded and headquartered in San Francisco. For more information, please visit roostify.com.