MReport January 2018

TheMReport — News and strategies for the evolving mortgage marketplace.

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6 | TH E M R EP O RT MTECH within the structure. Inside, ad- vanced technology automates nearly every step of the paper process. Once the documents are ordered, a printer automatically feeds the paper documents directly into an automated system that scans and reads the barcodes to assure that all documents are present. The documents are then inserted into envelopes, sealed and stamped—all without human intervention. Redfin Mortgage Expands to Washington, D.C. TECH-POWERED LENDER OFFERS 30-DAY CLOSING GUARANTEE. R edfin Mortgage, LLC is now offering loans to homebuyers in Washing- ton, D.C. With this expansion, Redfin Mortgage now serves homebuyers in Texas, Illinois and the District of Columbia, and the company plans to launch in ad- ditional states in 2018. Redfin Mortgage offers fixed and adjustable-rate conforming mortgages as well as jumbo loans for higher-priced homes in every state where it operates. Redfin Mortgage also offers a 30-day clos - ing guarantee, demonstrating its commitment to fast, on-time clos- ings. If Redfin Mortgage is unable to fund a mortgage in 30 days, it will give the homebuyer a $1,000 credit toward closing costs, subject to terms and conditions. The closing guarantee is enabled by Redfin Mortgage's fully underwritten pre-approval letter, where all required borrower information is underwritten by the company in advance of the homebuyer finding a property to purchase. This gives the buyer and the seller a stronger com - mitment that her loan will be approved as long as the home has a clean title and appraises for the proposed sale price or more. The buyer must also provide proof of homeowners insurance to com - plete the transaction. "In the competitive Washington, D.C. real estate market, Redfin Mortgage's 30-day closing guarantee gives homebuy - ers an edge in getting their offers accepted," said Jason Bateman, Head of Redfin Mortgage. "By earning the seller's confidence that the sale will close on time, offers from buyers with a Redfin Mortgage will stand out from the crowd in a bidding war." Roostify to Integrate with Black Knight's Origination System ROOSTIFY'S PLATFORM TO PROVIDE EFFICIENCY IN APPLICATION PROCESS AND SHORTER CLOSING TIMES FOR USERS. R oostify, a provider of auto- mated mortgage transaction technology, announced that it has signed an agreement with Black Knight, Inc., to integrate its platform with Black Knight's LoanSphere Empower loan origination system (LOS). The integration will enable Empower users to add further efficiency and transparency to the loan origina - tion process—from application to closing. "As consumers increasingly demand an online, self-serve loan process, lenders are seeking to meet that demand as efficiently as possible," said Rich Gagliano, President of Black Knight's Origination Software division. "Integrating with the Roostify platform offers our clients a solution to deliver a seamless mortgage experience within existing Empower-based workflows." Roostify's platform benefits both consumers and lenders by enabling a faster transaction, with greater visibility for all parties in - volved. Besides an intuitive appli- cation, consumers can upload and review documents, correspond with their loan officer and real estate agent, and gain complete transparency into the loan process from beginning to end. Without the back and forth that often occurs with collecting documents and signatures, or coordinating efforts between loan participants, loan officers are able to close more loans in a shorter period of time. With the new integration, lenders using Empower as their LOS will be able to seamlessly transfer information between the two systems, further streamlining workflows. "Black Knight aligns with our mission to deliver a world-class mortgage experience for our mutual clients," said Rajesh Bhat, CEO and Co-Founder, Roostify. "The Roostify platform makes the whole process more efficient and provides a better experience for everyone involved. Today's consumer requires a faster-paced, digital experience, and lenders are ready to give them the advanced technology to accomplish that." "As consumers increasingly demand an online, self-serve loan process, lenders are seeking to meet that demand as efficiently as possible." — Rich Gagliano, President, Black Knight's Origination Software division

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