Roostify Accelerates Transformation of Underwriting Automation with Data-Powered Income and Asset Analysis

Analysis Assistant verfies, analyzes, and summarizes borrowers’ financial assets to create a faster and more seamless lending process

Roostify, a leading mortgage technology provider, has released Analysis Assistant, a new automated income, asset, and credit analysis capability, to its Roostify Beyond offering.

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Roostify Beyond’s latest feature, Analysis Assistant, uses data from documents uploaded by borrowers during the application process and loan application data to analyze a borrower’s assets and income. It reduces loan origination costs for lenders and shortens time to close for borrowers.

Analysis Assistant builds on Roostify Beyond’s innovative automated document classification, extraction and validation technology. By comparing borrower document data to loan application data, Analysis Assistant verifies that the information given is correct, automatically identifies discrepancies in their income and assets, and allows loan officers to create tasks for letters of explanations with a single click.

“We are excited to launch Analysis Assistant as the next enhancement to Roostify Beyond. We’re continuing to empower lenders with accessible data and actionable tools,” says Harsh Chowdhary, Director, Product Management – Data & AI at Roostify. “Analysis Assistant further validates Roostify’s commitment to improving the home lending process for both borrower and lender, and we are truly happy to provide our customers with this exciting AI-powered experience.”

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A snapshot of the borrower’s financial landscape, separated into assets, income, and credit is provided in a crisp, streamline dashboard. Asset Analysis gives lenders a combined financial summary of the borrower and identifies discrepancies between loan application data and verified document data. Income Analysis enables lenders to easily view year-over-year income trends, identify income changes, and understand all sources of income more efficiently. Credit Analysis leverages data from credit reports for the primary borrower, co-borrower and jointly-held accounts to automatically identify if any letters of explanation will be needed.

Analysis Assistant’s ability to automatically identify various scenarios where Letters of Explanation may be required is a tremendous step forward in streamlining the process for lenders. If the borrower’s bank statement or credit report indicate any anomalies, Analysis Assistant identifies the issues and instinctively gives loan officers the ability to request these letters without the underwriter needing to go through each report manually.

At Roostify, we believe that data and automation can enhance the human experience, creating a home lending journey that is simple and streamlined for both lenders and borrowers. Groundbreaking solutions such as Roostify Beyond, and now Analysis Assistant, will keep paving the way for sustainable innovation in the mortgage industry. And that’s Roostify’s vision.

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