CoreLogic acquires Roostify, a point-of-sale fintech company.

CoreLogic, a real estate data and software provider has acquired Roostify point-of-sale platform Roostify. This acquisition will allow it to assist lenders in the initial stages of a digital loan process. CoreLogic, an Irvine, California-based company, has acquired Roostify point-of-sale platform. This acquisition will allow CoreLogic to share its business intelligence with mortgage companies at the beginning stages of borrowing. This will help them spot potential errors early. According to the company’s website, more than $50 billion of loans are processed each month using Rootify’s platform. Its clients range from independent brokerages to enterprise banks. Rajesh Bhat, CEO of Roostify and co-founder of the company, called the transaction an important one for the mortgage industry. He stated that the combined company “allows me to accelerate the journey toward a truly data-driven digital origination experience in a single platform.” The terms of the deal were not disclosed. According to Crunchbase, Roostify, a San Francisco-based fintech company, had received $65million in venture capital funding in eight rounds through 2021. Crunchbase reports that Roostify, a San Francisco-based fintech, received $65 million in venture capital funding in eight rounds through 2021. The company also appointed Patrick Dodd as CEO to replace Frank Martell, the current head of loanDepot. CoreLogic was in turmoil in 2020, when it was the target of several hostile takeovers. One was by CoStar Group, a commercial property research firm, and another was by Bill Foley, who was also a member of the leadership team at Black Knight. Two private equity firms purchased the once-public company in early 2021. ICE Mortgage Technology’s proposed acquisition Black Knight, a fellow technology platform, continues to be under scrutiny as the two companies attempt to alleviate antitrust concerns. Many believe that Black Knight has put its Empower loan origination platform up for sale, in an attempt to get approval for the deal. CoreLogic and Roostify, however, offer few overlapping business lines, unlike Black Knight and ICE.