Irvine, California-based CoreLogic [1]—a provider of global property information, analytics and data-enabled solutions—has acquired Roostify [2], a digital mortgage technology provider.
“CoreLogic is committed to driving innovation throughout the mortgage manufacturing process,” said Jay Kingsley, President, Mortgage Solutions at CoreLogic [3]. “We sit on an incredible amount of data, analytics, and essential workflow solutions that, when properly integrated into the loan lifecycle, can deliver a better mortgage experience for borrowers as well as lenders. The Roostify acquisition will unlock our ability to quickly execute on this mission.”
By integrating Roostify’s digital mortgage tech platform with CoreLogic’s data, analytics and workflow solutions, clients will gain critical information about borrowers and properties at the beginning of the loan process, saving both time and money. Due to limitations on when and how lenders receive data about property and borrowers, errors and loan conditions aren’t exposed until much later in the process, during processing and underwriting. CoreLogic has the data assets and workflow platforms to expose critical information about the borrower and collateral much sooner, at the point of sale. Errors and conditions can be identified immediately, resulting in improved customer experience, limited processing and underwriting costs, and the ability to apply the appropriate processing and underwriting resources to each loan.
“We believe that this is an important transaction for the industry,” said Roostify Co-Founder & CEO Rajesh Bhat [4]. “From inception, Roostify’s mission has been to accelerate and streamline the home lending journey. Bringing together the power of CoreLogic’s data and analytics suite with the Roostify digital lending platform allows us to accelerate the journey towards a truly data-driven digital origination experience in one single platform.”
CoreLogic’s combined data from public, contributory and proprietary sources includes more than 4.5 billion records spanning more than 50 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. CoreLogic serves the real estate and mortgage finance, insurance, capital markets, and the public sector.