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Partnership Provides Seamless Integration for Hybrid eClose Solution That Delivers Faster Closing Time
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Mar 10, 2022, 11:31 ET
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SAN FRANCISCO, Calif., March 10, 2022 /PRNewswire/ — Roostify, a leading mortgage technology provider, has partnered with ICE Mortgage TechnologyTM, part of Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, to deliver a hybrid e-close experience within the Roostify platform for its Encompass® users.
Roostify is partnering with ICE Mortgage Technology to deliver a comprehensive digital closing solution, which will enhance Roostify’s bi-directional integration with Encompass. ICE Mortgage Technology’s eClose solution will be integrated into Roostify’s digital home lending platform, enabling a seamless system-to-system delivery of preliminary and closing disclosures for e-sign in real time.
"Our eClose solution is unlike any other offering available, in that we provide equal value for the borrower and the lender," said Parvesh Sahi, Senior Vice President of Business and Client Development at ICE Mortgage Technology. "By teaming up with Roostify and its efficient bi-directional portal, we’re providing a much better, simpler experience for borrowers, while also enabling huge efficiencies for lenders through our single workflow in Encompass. We are making it easy for lenders to adopt automation and start gaining the competitive advantages that come with our eClose solution."
When the closing package is created in the Encompass loan origination system during the closing process, Roostify’s system will be notified, authenticate the task, and send the requirements to the borrower. When the borrower signs into their lender’s instance of the Roostify portal, they can easily review and sign the required documentation directly from the platform – no additional logins, passwords, or platforms required.
"This alliance furthers the mission of both Roostify and ICE Mortgage Technology by delivering a simple home lending experience that fits every client perfectly," says Roostify Co-Founder and CEO Rajesh Bhat. "Roostify’s goal is to support and create a simpler home lending experience that’s both smooth and transparent for lenders and borrowers, and our e-close integration with ICE Mortgage Technology helps us further that mission."
The partnership will empower lenders to provide the best lending experience to the borrower, through a faster, more efficient, and more precise service – something of which investors, servicers and other parties will experience the downstream benefits as the industry increases adoption of eClosing. With the Roostify and Encompass eClose integration, lenders will significantly increase operational efficiency and accelerate time to close throughout the process in Encompass, resulting in better borrower experience and satisfaction.
Based in San Francisco, Roostify was founded in 2012 to modernize and simplify the manual, inefficient mortgage process and create a more enjoyable experience for the customer and lender. Today, Roostify is helping lenders process more than $50 billion in loans each month, from large enterprise banks to thriving independent brokerages. We empower lenders to accelerate and simplify the lending process to help lenders and customers alike unlock more of life’s big moments.
For more information, please visit www.roostify.com
About ICE Mortgage Technology
ICE Mortgage Technology combines technology, data and expertise to help automate the mortgage process, from consumer engagement through loan registration, and every step and task in between. ICE Mortgage Technology is the leading cloud-based loan origination platform provider for the mortgage industry, with solutions that enable lenders to originate more loans, lower origination costs, and reduce the time to close, all while ensuring high levels of compliance, quality and efficiency. Visit icemortgagetechnology.com or call (877) 355-4362 to learn more.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading "Key Information Documents (KIDS)."
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 — Statements in this press release regarding ICE’s business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE’s Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE’s Annual Report on Form 10-K for the year ended December 31, 2021, as filed with the SEC on February 3, 2022.
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