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Roostify's digital lending platform now offers the ability for a consumer or loan officer to request conditional approval directly through the platform. As the consumer completes the required fields in the loan application through a mobile or desktop application, they are then given the ability to request conditional approval with a single click.
"Informing mortgage applicants of conditional approval within seconds of their request provides the experience that consumers expect and require in this digital age," says Kelsey Castillo, director of product management at Roostify, "This on-demand response can be a deciding factor for whether they can make an offer on the home of their dreams."
According to a news release, each lender is responsible for determining the necessary conditions for a consumer to qualify for a loan. When the consumer requests the conditional approval, Roostify sends relevant information to Fannie Mae's desktop underwriter which then determines a close to real-time qualification.
If all of the lender’s pre-configured criteria of the application are met, a conditional decision of "approved" or "eligible" is shown within seconds of the request.
Learn more about Roostify's newest addition to its digital lending platform.