Written By
John Davison, CTO
StartupLandia Case Studies

Case Study for Featured Customer

Executive Stats:

  • Loan Integration Portal Built
  • Staff Augmentation and Leadership
  • 31% decrease in average time from starting an application to the loan closing
  • Closed Series B Round $25MM
Fintech: Building a Loan origination integration portal using the ZipLogix standard enterprise api

Roostify is a collection of forward-thinking minds dedicated to enhancing the lending experience for everyone involved in the home buying process.With over 11 billion dollars of loans originated monthly, Roostify now serves dozens of lending institutions nationwide; from the largest of enterprise banks to a number of thriving independent brokerages. Helping reinvent the lending experience so your customers can accelerate their future. One successful loan at a time. In March of 2015, Roostify received their Series A round of $7.5M to use to build a platform that would shrink the duration that it takes for a consumer to get a home loan from 2-6 weeks down to hours. The initial premise was that the loan approval industry was primarily done with paper forms and the time it took to get all the necessary paperwork filled out and certified, reviewed and approved from a bank was considered to be ‘exceedingly long.' Roostify set out to build a modern software driven approach to consumer home lending. When they made contact with StartupLandia, they had a technical team of one CTO, one Vp of Engineering and about eight junior engineers who had been through coding bootcamps. They hired StartupLandia to work with their engineers as a staff augmentation team. Basically, we added technical expertise to whatever development challenges they faced. Later in our relationship they requested that we design and build a major piece of server integration. We built a loan origination integration portal using the ZipLogix enterprise api. ZipLogix is an industry standard that produces PDF and other types of consumer loan documents. A core piece of the company's architecture and business goals are associated with this integration.

"Roostify set out to build a modern software driven approach to consumer home lending."

At that time, Roostify was a medium sized startup that operated in a virtual manner. StartupLandia integrated as a remote engineering team with a primary lead product designer and few other engineers, many of whom were front end focused. StartupLandia approached the server integration work utilizing our knowledge of the Ruby on Rails stack. In addition to building out all the server integrations, our consultations determined that the Roostify team would need a reasonable front end to interact with these forms. StartupLandia was operating in a staff augmentation capacity and we knew that the Roostify team would need our help to make good choices about what tool kits to decide to build their companies foundation upon.

As we built out the ZipLogix server integration in Ruby on Rails, we also built a vue.js front end layer that would work as a web iframe. The goal we set out was to accomplish an iframe that could be viewable by multiple types of customers, effectively a white labeled consumer loan origination platform that allowed people to submit documents on various properties. The integration work that StartupLandia built for Roostify would help them continue to scale their business.

"The goal we set out was to accomplish an iframe that could be viewable by multiple types of customers"

Metrics

Roostify has continued to grow in the Real Estate and Lending space, in January of 2018 they received a $25M Series B round. A small customer of Roostify, Georgia United Credit Union, reported that by using Roostify technology they experienced a 41% decrease in average time from starting an application to the application going to processing, a 37% decrease in average time from starting an application to the loan being cleared to close and a 31% decrease in average time from starting an application to the loan closing (on average, once Roostify was in place loans took just over 17 days to get from start to close!). In 2018, Roostify was listed by CB Insights on the ‘Fintech 250'. In 2018 Roostify was also named an SF Bay Area Best and Brightest Company to Work For by the National Association for Business Resources (NABR).