Roostify, a Web and mobile platform designed to help speed homebuyers, real estate agents and lenders to the closing table, has integrated with mortgage giant Fannie Mae’s automated underwriting system to streamline homebuyers’ mortgage applications.
Roostify’s integration with Fannie Mae’s Desktop Underwriter allows Roostify users to:
- Deliver a mortgage application directly to Desktop Underwriter for preapproval.
- Obtain Desktop Underwriter findings and conditions upstream in the origination process.
- Reduce the time frame and steps needed to approve and process a loan application.
“We are excited to work with innovative companies like Roostify to improve the integrity and efficiency of mortgage originations,” said Stephen Pawlowski, senior vice president of strategic innovations, business and technology at Fannie Mae, in a statement.
Roostify says its platform allows consumers to create a verified loan package in minutes and collaborate with loan officers and other parties involved in the homebuying process, including real estate agents.
The startup’s technology can pull in a borrower’s LinkedIn data and tax filings, and claims to allow borrowers to cut the timeline of the typical loan application process in half.
Some lenders, such as the National Bank of Kansas City, have partnered with Roostify to offer the startup’s technology to their loan officers and customers.