LendingTree will now be able to offer a full digital mortgage experience to its users thanks to a new partnership with Roostify, a provider of automated mortgage transaction technology.
Roostify already powers the digital mortgage process for lenders like Guild Mortgage, and will also serve as the backbone of JPMorgan Chase’s digital mortgage process, which is set to roll out soon, according to JPM Chase CEO Jamie Dimon.
Now, all of the lenders that appear on LendingTree will have the ability to use Roostify to create a “seamless path” from selecting a lender to actually applying for a loan and beyond.
“There is a digital gap in the mortgage industry: consumers mostly research and shop for loans online, but once they choose a loan the actual origination process is often still offline,” Nikul Patel, LendingTree’s chief strategy officer, said. “Our integration with Roostify brings the industry one step closer to the all-digital vision for a seamless consumer journey.”
Through the partnership, lenders can utilize a new integration to allow consumers to search, select, apply for, and close a loan online.
According to the companies, consumers selecting a loan offer on LendingTree from a lender using Roostify will be able to transition directly into the lender’s Roostify-powered online mortgage experience, with all their information securely pre-populated.
“Roostify is dedicated to improving the lending experience for both consumers and lenders,” said Rajesh Bhat, CEO, Roostify. “Partnering with LendingTree, whose mission is to help consumers find the best home loan, helps us achieve both those goals, increasing efficiency and lead quality for lenders while offering consumers a faster, stress-free path to apply for and close a competitively priced home loan.”
According to the companies, the digital mortgage integration will be available in the first quarter for all joint clients of Roostify and LendingTree.