Roostify plans to connect its automated mortgage decisioning platform with employment and income data from Equifax.
The connection with The Work Number, a product from Equifax Workforce Solutions, will allow Roostify's customers to access employment and income verifications through the company's platform.
"Applicant income is a primary determinant of whether a loan is approved," said Rajesh Bhat, Roostify chief executive and co-founder, in a news release Thursday. "Using The Work Number, the industry leading employment and income information database, we can help our customers benefit from faster decisioning and quicker closings."
The Work Number database includes employer-direct income and employment information for more than 75% of the Fortune 500 companies and is refreshed every pay period. Roostify expects the connection between its platform and the Equifax product to be in place by the end of 2016.