Googain, Inc. delights customers and optimizes operational efficiency with eClose.

Top 3 gains with eClose

Even though eClosing offers huge savings in terms of the cost of each loan, Shawn Song, President of Googain, says they've been focused on more important gains. The top result for Googain has been the improvement they've seen in customer experiences. The borrowers are much happier with a smooth closing where there are zero errors and they don't have to be called back to fix mistakes.

The second top benefit is that the staff frustration is drastically reduced. Now they can be confident that their loans are error-free the first time, with no risk of a redo.

The financial benefit of eCloses comes in third. Loan purchase times have shrunk down to just two or three days with Freddie Mac and Fannie Mae, which keeps Googain from having to extend or re-lock rates.

All the technology we can get

With each phase of adopting new technology, Googain has seen big lifts in efficiency. They're leading the market in eClose, and looking forward to enhancing those capabilities as RON and IPEN becoming available in more states.

On the origination side, innovation is still pressing forward behind the scenes. Googain's goal is to automate everything they can within underwriting and processing using tools available in Encompass.

Shawn Song predicts that within the next couple of years, the loan manufacturing process will look very different, with the time between online application and closing being a fraction of what it is now.

Being open to new technology has been the key to their success. Shawn says, "We have very effective, very efficient staff. We can achieve so much because of automation. We'll use all the technology we can get from you guys."