Roostify has integrated its mortgage transaction technology into LendingTree's lead generation system, creating a seamless path from product search through closing.
Consumers will be able to search, select, apply for and close a loan on line with Roostify customers that obtain leads through LendingTree. The integration is expected to be live at some point during the first quarter.
"Roostify is dedicated to improving the lending experience for both consumers and lenders," said Roostify CEO Rajesh Bhat in a press release. "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."
Consumers selecting an offer on LendingTree from Roostify customers will be able to authenticate into the lender's online application, with all of their information securely pre-populated. The consumer can move from shopping to getting a loan in just a few clicks, streamlining the experience and improving lead quality for lenders.
"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," explained LendingTree's Chief Strategy Officer Nikul Patel. "Our integration with Roostify brings the industry one step closer to the all-digital vision for a seamless consumer journey."
In the third quarter, LendingTree had revenue of $73.8 million from its mortgage product lead generation, up 38% from $53.5 million in the same period of 2016.