Customer Success Story

George Mason Mortgage reduces loan turn times by 2.5 days and loan costs by $2 million with Encompass Consumer Connect™

George Mason Mortgage
Hall of Fame Winner
  • George Mason Mortgage, LLC
  • Fairfax, VA
  • $2.6B annual loan volume (2018)
  • Ellie Mae Customer since 2009

The challenge

George Mason Mortgage wanted to give customers a digital engagement option, but do it without losing the high-touch approach that defined the company’s brand.

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.

“Within 30 days, we saw a 15 percent increase in online applications—specifically because people loved the experience of using Encompass Consumer Connect.”

Andria Lightfoot

Senior Vice President of Information Systems

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The solution

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 Ellie Mae Webcenter for online applications. A twelve-month comparison was conducted to determine the percentage of applications taken online vs. conventional methods.

2.5-day turn time reduction from application to close
$2 million decrease in loan costs
10 percent increase in loan conversion rates