Seeking to gain new efficiencies and improve customer satisfaction, National Bank of Kansas City (NBKC), a full-service mortgage lender, has implemented Roostify, a Web-based system that walks borrowers through the application process and allows them to easily and securely upload critical documents.
In addition, the platform gives borrowers complete visibility into the status of their loan application, from start to finish, without the need to request updates from a loan officer (LO).
Roostify claims that with its system, borrowers are able to complete mortgage application process in about half the time it would normally take using a manual or paper-based process.
With Roostify, NBKC, which processes about 5,000 loans each year, can generate customized reports showing the number of applications that have been started and completed. What's more, the bank's LOs and other staff have complete visibility into the process – as well as the ability to reach borrowers regarding their incomplete application.
In addition, bank staff can customize the documents needed from borrowers for each application, alleviating the need for LOs to request each individual document independently.
‘The mortgage application is frustrating and long for prospective borrowers,’ says Dan Stevens, vice president of mortgage finance and business strategy for NBKC, in a release. ‘Since implementing Roostify's platform, we are able to provide a superior user experience and process loan applications quicker and more efficiently. We are already seeing an increased amount of completed applications through our system, and our LOs are pleased with the simplicity it brings to processing those applications.’
‘The reporting capability Roostify provides gives us complete transparency into all of our pending applications and allows LOs to process more loans, in less time, while also adding accountability to everyone involved in the process,’ adds Stevens.