Rockville, Maryland (PRWEB) March 15, 2017
Announcing a major technological development inside the Ellie Mae Encompass platform George Mason was named a finalist for the Ellie Mae Hall of Fame. Accuracy and efficiency in the real estate industry have been a major focus for mortgage lenders. George Mason Mortgage and First Title & Escrow, a national title and closing services company, worked together to customize a direct integration First Title developed using their proprietary FirstVision TM platform. George Mason has seen a tremendous cost reduction as high as seventy-two percent (72%).
“The Compliance Fee Variance Cure Automation Project has been a tremendous success for George Mason Mortgage. We will continue to work hand-in-hand with First Title & Escrow’s Encompass integration to further positively impact our bottom line.” Said Andria Lightfoot, SVP Information Systems at George Mason Mortgage.
“The process of receiving pricing for the title and closing services is complex, especially when working on a multi-state basis with transfer and recordation taxes at a 0% tolerance. Understanding the client’s needs have been at the forefront of our company as we strive to be part of the solution. We believe that title and closing fees should not simply be automated in a display but delivered by a lender’s title provider into their loan platform to provide a seamless and error free experience. We are very pleased that George Mason Mortgage decreased their overall tolerance cures so significantly after implementing our integration inside of Encompass”, said Stephen Papermaster, President of First Title & Escrow.
By reducing the number of steps and parties involved in generating loan fees, George Mason and First Title have successfully streamlined a complex process into a simple solution directly inside the Ellie Mae Encompass loan origination platform.
“With the increase in efficiency in the delivery of fees, our originators can initiate the process faster, with fewer errors as a result.” Said Matt Fox, Chief Operating Officer and EVP, George Mason Mortgage.
Technological innovation, instant communication and data delivery in the mortgage industry is rising at rapid rates. George Mason Mortgage and First Title are pleased to be at the forefront of business efficiency optimization.
About George Mason Mortgage
George Mason Mortgage, LLC is a full-service lender based in Fairfax, Virginia and a wholly owned subsidiary of Cardinal Bank. George Mason Mortgage, LLC was founded in 1980 and has consistently been ranked by the Washington Business Journal as one of the area’s leading lenders. A wholly owned subsidiary of Cardinal Bank, George Mason Mortgage, LLC headquartered in Fairfax, Virginia with retail offices throughout Virginia, Washington, D.C., and Maryland.
About First Title & Escrow
First Title & Escrow, Inc., a nationwide title and settlement services company serves the real estate and financial services industry, whose customers include large and regional banking institutions, lenders, investors, credit unions, asset managers, government agencies and sponsored enterprises. First Title established a market advantage through the development of their proprietary FirstVision TM web-based transaction management platform for placement of product and service orders, third party collaboration features, in addition to vendor management and process flow tools for life cycle management, tracking and reporting features, as well as instant document generation.