Roostify launches Roostify Beyond, the next phase of its intelligent document services – NMP
Roostify Beyond integrates RDI at the start of the home loan process. Its document classification feature provides applicants with instant feedback when they upload incorrect or unreadable documents without having to hire the loan team for manual intervention, according to the company.
Powered by AI technology and delivered via API, the Documentary intelligence service provides document management and process automation capabilities that are easily configurable and can be integrated into any part of the mortgage process. Roostify used the Document Intelligence Service API on its own lending platform to create a more enhanced offering: Roostify Beyond.
Through document data validation, Roostify Beyond not only verifies that the correct document was submitted, but also that all data fields meet the requirements of a given task. This dramatically minimizes the time spent on manual âlook and compareâ and eliminates the possibility of human error, according to Roostify. Roostify Beyond’s data mining capabilities allow lenders to leverage document data to highlight data discrepancies, automatically create jobs, and publish document classification and validated information downstream from the LOS.
âWe are also excited to leverage RDI on our own platform to drive the most efficiency possible by finding and correcting errors in the application process as early as possible,â said Rajesh Bhat, CEO and co-founder of Roostify. âData allows lenders to spend less time in systems and more time with clients. “
Mortgage Solutions Financial (MSF) is the first client of Roostify’s Beyond Early Adopter program to implement Roostify Beyond in their organization with the goal of making the mortgage process as easy and painless as possible for their clients.
âTechnology can be both your best friend and your worst enemy. We use technology to make the process more efficient because when you are dealing with more difficult loans, the process is already very manual. Since the most difficult cases take a lot of work, experienced underwriters and processors are essential to the success of the transaction, âsaid Rob Clennan, President, Mortgage Solutions Financial. âWe are not deploying technology to downsize. Instead, we’re using technology, Beyond specifically, to create a more efficient workflow and reduce touchpoints. Underwriters, typically, are mortgage companies’ highest paying resource in operations, Beyond allows us to keep our highest paying resource focused on their primary purpose, which is to serve our borrowers.