Vesta and Willow Servicing Partner to Forge a Seamless Bridge Between Origination and Servicing, Paving the Way for an End-to-End Digitized Mortgage Process
SAN FRANCISCO, November 02, 2023--(BUSINESS WIRE)--Vesta, the creator of the modern mortgage loan origination system, is pleased to announce its integration with Willow Servicing. This partnership marks a significant step toward harmonizing traditionally segmented origination and servicing processes. It provides seamless, end-to-end connectivity from application through post-close, all within the LOS.
In a rare feat for this industry, the integration was completed within just one week, underscoring the exceptional agility and efficiency of both teams. Early mutual customers can now harness this integration to significantly simplify their interim servicing processes, historically known to be complex and burdensome for both lenders and borrowers.
To automate interim servicing processes, such as generating borrower notices, reconciling mortgage payments, and tracking taxes and insurance, Vesta and Willow Servicing have come together, leveraging Vesta's agile technology and Willow Servicing's robust APIs to streamline this critical phase. The integration allows lenders to automatically push loans directly to Willow's elegant solution from the Vesta platform, enabling them to maintain control during this vital stage and ultimately enhance the overall borrower experience.
"We are thrilled to bring this powerful integration to the market," said Vesta CEO, Mike Yu. "In a short time, we have achieved a significant milestone, and we are eager to see the positive impact it will have on helping our lender customers increase efficiency in their post-close processes. The collaboration between our teams and the agility of Willow's APIs have made this rapid progress possible."
"Seamlessly integrating a loan origination system with a mortgage servicing system removes a major point of friction in the mortgage lifecycle and unlocks tremendous value for lenders, servicers, and investors," said Laura Cain, CEO of Willow Servicing. "Vesta and Willow's rapid progress is a testament to the strength of both teams and products and we are extremely excited for the impact this integration will have on reducing costs and errors for our customers."
About Vesta:
Vesta is a SaaS provider of mortgage loan origination software. The platform provides lenders with a modern system of record, customizable workflows for end-to-end mortgage loan fulfillment processes, and open, cloud-based APIs. The company was founded in 2020 by early Blend employees Mike Yu and Devon Yang. Investors backing Vesta include Andreessen Horowitz, Bain Capital Ventures, Conversion Capital, Index Ventures and Zigg Capital. For more information, visit: www.vesta.com or Vesta’s LinkedIn.
About Willow Servicing:
Willow is a cloud-based mortgage servicing platform. Willow’s modern technology supports both interim and life of loan servicing for conventional, ARM, HELOC, business purpose, and construction loans. Founded in 2021, Willow was serviced over $4B in mortgage loans and is backed by Thomvest Ventures, Zigg Capital, GAC, The Mortgage Collaborative, and Webb Investment Network. For more information, visit: www.willowservicing.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20231102730122/en/
Contacts
Monica Raciti
monica@usevesta.com
Laura Cain
laura@willowservicing.com
