Mortgage News March 10, 2023
CoreLogic, a company based in Irvine, California that offers global property information, analytics, and data-enabled solutions, has made an acquisition of Roostify, a provider of digital mortgage technology.
According to Jay Kingsley, President of Mortgage Solutions at CoreLogic, the company has a strong dedication to promoting innovation within the mortgage manufacturing process. He emphasized that by effectively integrating their vast amount of data, analytics, and workflow solutions into the loan lifecycle, CoreLogic can significantly enhance the mortgage experience for both borrowers and lenders. The acquisition of Roostify is expected to enable CoreLogic to execute this mission quickly.
By combining Roostify’s digital mortgage technology with CoreLogic’s data, analytics, and workflow solutions, customers will have access to important information about borrowers and properties at the start of the loan process, resulting in time and cost savings. Traditional limitations on when and how lenders receive data about borrowers and properties often mean that errors and loan conditions are only identified much later in the process, such as during processing and underwriting. However, CoreLogic has the necessary data assets and workflow platforms to uncover essential information about borrowers and collateral at the point of sale, allowing errors and conditions to be promptly identified. This results in improved customer experience, reduced processing and underwriting costs, and the ability to allocate the appropriate processing and underwriting resources to each loan.
Roostify’s CEO and co-founder, Rajesh Bhat, expressed his belief that the acquisition of Roostify by CoreLogic is a significant transaction for the industry. He stated that Roostify has always aimed to speed up and simplify the home lending process. The integration of Roostify’s digital mortgage technology with CoreLogic’s data and analytics suite will enable them to advance towards a fully data-driven digital origination experience in a unified platform.
CoreLogic offers a vast collection of property information and data solutions sourced from public, contributory, and proprietary sources. This includes over 4.5 billion records covering a period of more than 50 years, which provides comprehensive coverage of various aspects such as property, mortgages, consumer credit, tenancy, location, hazard risk, and related performance information. CoreLogic’s services cater to a wide range of industries such as real estate, mortgage finance, insurance, capital markets, and the public sector.
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