The electronic document uploading and automated status updates in Roostify's technology create a mortgage process "that aligns with the experience that consumers expect and have in other verticals," said CEO Rajesh Bhat.
Technologies that bridge the gap between originators and real estate agents are designed to improve communication and lead management, which is crucial when loan officers are competing for referrals from top agents in a purchase-driven market.
"We don't pay any attention to medical debt simply because medical billing is so confusing and it's difficult to tell whether or not the person actually owes the money," said Robert Messer, executive vice president and chief financial officer of the $2.4 billion-asset American National Bank of Texas based in Terrell.
Several institutions said their underwriters already exclude paid and unpaid medical debt from their calculation, raising questions about what kind of impact the new model will have on lenders.
Ellie Mae COO Jonathan Corr projects the vendor can generate between $20,000 and $50,000 in annual revenue for each lender that uses Encompass Consumer Direct. Image: Randall Scott
Ellie Mae ties its fortunes to its clients' success with a pricing model that charges lenders based on the number of loans they close. Now it's found a way to monetize the applications that flow through its origination software but don't get funded.
Acquiring the technology vendor would help Altisource build a marketplace for ancillary mortgage services and reduce the company's reliance on its former parent and top client, Ocwen.
CONFIDENT: Black Knight's public overture to Bank of America was a bold gesture on the scale of John Cusack's iconic scene in the movie
Nearly five years after Bank of America dumped the Mortgage Servicing Package for technology it obtained in its acquisition of Countrywide, a forlorn Black Knight Financial Services is trying to win back the country's third-largest servicer.
Mortgage Technology Magazine: Summer 2014 Issue
• Top 50 Service Providers
• Lead Gen Logistics
• Commentary & Opinion
  • Top 50 Service Providers
  • Lead Gen Logistics
  • Commentary & Opinion
Already a subscriber? Log in here
Please note you must now log in with your email address and password.