Digital mortgage lending platform Roostify has entered into a partnership with TD Bank to deploy its home equity solution onto TD bank’s digital home lending platform.
The partnership will merge mortgage and home equity products onto a single platform.
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The new home equity platform is an online platform for both home equity loans and lines of credit.
Homeowners can use Roostify’s Loan Builder tool on TD Bank’s website to leverage their equity to assess and compare various home loan products.
Customers can begin the application on their own using the educational resources provided on the website or take the assistance of a mortgage loan officer.
TD Bank serves over nine million customers with a suite of retail, small business and commercial banking products at more than 1,200 locations across the US.
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By GlobalDataTD Bank home equity lending head Jon Giles said: “With this latest enhancement, prospective borrowers visiting our website now have consistent, seamless interactions across our entire home lending products.
“Our business expects to see increased pull-through, accelerated time to close and gains in cost efficiencies.”
Roostify co-founder and CEO Rajesh Bhat said: “Roostify has created the best possible digital lending experience for TD Bank customers and loan officers. Customers use the same trusted platform to apply for a home equity loan as they use for securing a mortgage.
“Working independently, or with a loan officer, in an omnichannel environment, the borrower can now secure the loan that best meets their financing needs and preferences of engaging.”
TD Bank first partnered with Roostify in 2019 to enhance its mortgage processing times.
Roostify processes nearly $20bn in loans every month.
Last year in January, Glacier Bancorp selected Roostify to launch its digital mortgage solution.
