Roostify, a U.S.-based digital lending platform, announced on Wednesday it has appointed Roger Fendelman as its first ever Chief Compliance Officer. According to Roosify, Fendelman has nearly 25 years of experience at the intersection of compliance and technology. He will oversee the company’s governance, risk, compliance, and information security programs.
Speaking about the appointment, Roostify CEO, Rajesh Bhat, stated:
“Roger will utilize his deep expertise in compliance technology and automation for Roostify to create sophisticated, innovative compliance solutions, while also ensuring the company is a step ahead when it comes to data security. He will lead a dedicated team of experienced professionals focused on compliance, privacy, and data security.”
Fendelman added:
“Roostify has made regulatory compliance and information security top priorities. I’m excited to once again be at the forefront of technology in the most regulated consumer financial services vertical and am looking forward to furthering the company’s mission: to simplify home lending.”
As previously reported, Roostify describes itself as a web and mobile service that claims to simplify and accelerate the home-buying experience by providing step-by-step guidance in the home and loan closing process. This allows agents, loan officers, and homebuyers to share and track critical information “seamlessly.”
“By accelerating and demystifying the home loan and closing process, and increasing the accountability of everyone involved in the process, Roostify helps agents and lenders increase deal flow and reduce risk while creating a better, faster, less stressful experience for people who are buying homes.”
Roostify recently secured $32 million through its Series C funding round, which was led by Ten Coves Capital with participation from Cota Capital, Mouro Capital, Colchis Capital, Point72 Ventures, and JPMorgan Chase. The company also revealed that in 2020, it scaled to manage a 250 percent increase in overall platform volume. Today, the company supports more than 200 lending institutions and handles roughly $50B in loan volume monthly.
