Roostify Integrates with DocMagic to Facilitate a Faster, More Accurate Online Consumer Mortgage Process
Integration allows consumers to complete the mortgage application and execute disclosure documents from a single online platform, reducing errors and time-to-loan completion
San Francisco, Calif. (June 29, 2016) – Roostify, a provider of automated mortgage transaction technology, today announced the completion of its integration with DocMagic, the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions. Directly from Roostify’s platform via the web or mobile device, consumers are able to securely access, electronically receive, review and sign all initial disclosure documents at the time of application with DocMagic’s proprietary eDelivery and eSignature system.
“The integration streamlines the process of borrower receipt, execution and return of electronically signed initial disclosures, while reducing errors and documenting compliance with a complete electronic audit trail. This process improves the borrower experience while expediting loan closing,” said Steve Ribultan, Director of Business Development at DocMagic. “The ability to provide borrowers with the required initial disclosures at the time of completing an application, as well as allowing them to eSign their documents is a key differentiator lenders are looking for in today’s regulatory environment. Roostify’s seamless connectivity to DocMagic’s sophisticated, compliance-focused loan document solutions takes their platform to the next level.”
Within Roostify’s platform, loan officers can now present consumers with real-time disclosure documents and other documentation necessary to close a fully compliant home loan, complete with proof of TRID adherence.
Consumers can then access and electronically complete the forms within the Roostify platform – the same place from which they submit their mortgage application and collaborate with their real estate agent. Roostify’s platform is accessible from anywhere with an Internet connection, including from a mobile phone.
“One of the most complex elements of the mortgage completion process is providing customized documents to consumers and retrieving them back in a timely fashion, particularly given the current regulatory environment for lenders,” said Rajesh Bhat, CEO of Roostify. “The integration with DocMagic offers our customers and their customers an easy way to share and sign documents more efficiently, saving time in the process. Consumers gain the convenience of viewing and signing all necessary documents from a single platform, while lenders and loan officers can be sure that they have what they need to remain compliant with evolving industry regulations.”
In 2015, DocMagic celebrated a major company milestone by surpassing more than 100 million eSignature transactions by users. This number has since significantly grown amid increasing adoption of eDelivery and eSigning technology within the mortgage as well as other industries.
Roostify users will be able to access the new DocMagic-enabled features in the company’s upcoming July release.
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.
DocMagic, Inc. is the leading provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions for the mortgage industry. Founded in 1988 and headquartered in Torrance, Calif., DocMagic, Inc. develops software, mobile apps, processes and web-based systems for the production and delivery of compliant loan document packages. The company’s compliance experts and in-house legal staff consistently monitor legal and regulatory changes at both the federal and state levels to ensure accuracy. For more information on DocMagic, visit www.docmagic.com.