Magazine : Archives : 3rd Quarter 2018

Transforming Mortgage Banking

When Rajesh Bhat and his wife tried to buy a house a few years ago, and then later refinance it, it was a stressful and confusing series of processes, including an unexplained $2,500 check in the mail after closing and a surprise mortgage broker’s fee. Bhat decided to do more than just survive that “sufficiently traumatic experience” of buying a home. Following along the lines of any good Silicon Valley entrepreneur, he decided to create a startup that would transform the experience. An early version of Bhat’s startup, Roostify, focused on the real estate transaction—but that effort “flopped,” says the...