Roostify launches decision builder
Decision Builder, the latest solution from mortgage tech innovator Roostify
Decision Builder, the latest solution from mortgage tech innovator Roostify, will give lenders the ability to provide loan applications with a clear, easy-to-understand view of all the borrower’s loan options – based on the lender’s actual product and pricing system.
David Penn at Banking Technology‘s sister company Finovate reports.
Vice-president of products for Roostify, Sandeep Aji, says: “Consumers often approach a home loan with a lot of anxiety, in part because traditionally very little information has been available to them”.
Not knowing things like how much the monthly mortgage payment will be or the exact amount needed to close “until late in the process”, are an unnecessary source of stress for prospective mortgage borrowers, Aji explains. “With Decision Builder, consumers can get an accurate idea of what to expect before they even fill out an application.”
Integrated into the lender’s current website, Decision Builder collects some basic information such as desired loan amount, anticipated down payment and address code of the house via a set of dropdown questions. The tool then provides a set of loan options that let the prospective borrower see which products and rates they qualify for. Once the consumer makes their choice, a single click allows them to continue the process with their selected loan product.
Roostified was founded in 2014 and is headquartered in San Francisco, California.
Last month, the company announced partnerships with mortgage transaction services provider ServiceLink and digital insurance firm, Matic Insurance Services. The previous month, Roostify announced that it had helped housing lender First Cal reduce its loan process to 15 days – 66% lower than the national average of 43 days.
