Customer Success Story
A huge win - by any standards
Since going live with Consumer Connect, George Mason Mortgage has seen some impressive results.
George Mason Mortgage
George Mason Mortgage, LLC (GMM) was founded in 1980 as an independent lender offering white glove service to customers in the Washington D.C. metro area. Now, a wholly owned subsidiary of United Bank, GMM is a top lender in the mid-Atlantic region—building its reputation by combining high touch and high tech to create a unique market niche.Download the case study
“Within 30 days, we saw a 15 percent increase in online applications—specifically because people loved the experience of using Encompass Consumer Connect®.”
Senior Vice President of Information Systems
A high tech, high touch niche
Although George Mason the company gave its borrowers an excellent, efficient in-person or phone-based experience, until recently, it didn’t have a 24/7, online option. “We surveyed our customers and were shocked to find out how many wanted to engage with us in a more digital format,” explained Andria Lightfoot. To be successful, the solution had to increase the influx of online applications and reduce loan turn times, yet, be transparent enough to keep loan officers in the loop. Most importantly, it had to be easy and intuitive for the borrower to use, with a secure way to upload documents and sign disclosures from any mobile device.
Building customer relationships
To establish a baseline, a twelve-month comparison was conducted to determine the percentage of applications taken online vs. conventional methods. With the goal of reducing loan origination costs, GMM used Encompass Consumer Connect to track the average turn-time performance for Consumer Connect vs. non-Consumer Connect applications. They also leveraged the ICE Mortgage Technology WebCenter for online applications. Lightfoot said, “The same place borrowers go to engage with the loan officer is where they upload documents and sign disclosures. Many systems do an excellent job with online applications, but don’t continually engage that customer to reinforce the borrower-lender relationship. ICE Mortgage Technology knocked it out of the park on that point.” Just as important, the solution gives loan officers full visibility into partially submitted applications for follow up, as well as borrower activity. So, they stay in control of their books of business and customer relationships.
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