Roostify, San Francisco, on Tuesday launched a web and mobile technology service it designed to help lenders, buyers and real estate agents navigate the origination and home purchase process.
California-based regional mortgage bank American Capital Corp. provided an undisclosed amount of seed funding for the automation, and Roostify indicated it also has other private investors.
The technology provides step-by-step guidance in the home and loan closing process, including loan application completion, qualification document submission and tracking, according to Roostify.
Roostify designed the technology to be more efficient and get the loan to settlement as quickly as possible. Its three founders have technology backgrounds and built the automation in response to their own frustrations with the home buying and refinancing process.