ICE Mortgage Technology Case Study

In an effort to improve the mortgage lending experience, Fannie Mae and Freddie Mae required significant changes to the Uniform Residential Loan Application (URLA) used in residential loan transactions. Knowing this would create more transparency and efficiency for their clients, George Mason Mortgage embraced the challenge.

“The way that (mortgage application) data is now being collected, and the thoroughness of that data has made our processors and underwriters more productive, so they can handle higher loan volumes—which is a win for the whole organization,” Bill Landon, GMM CEO said. “They’re not stopping to get clarification or chase down additional borrower information, because everything they need is right there.”

The keys to success were starting early, leveraging our partnership, including our production teams and providing continuous education and support. “Our job was to translate old 1003 into the New URLA for our clients and also our employees. Communication was key” stated Margie Ambrosio, SVP Information Systems at GMM. “We needed to ask the right questions and understand the answers. From a technology perspective, our success was measured by ease of use and user understanding and satisfaction.”

Change never comes easily in an industry as complex and as highly regulated as ours and this was certainly no exception. George Mason Mortgage was able to navigate the URLA changes with ease, without disruption – and we were able to share our best practices in a case study by ICE Mortgage Technologies.

Related Articles

2024 Conforming Loan Limits

FHFA Announces Conforming Loan Limits for 2024

Baseline Conforming Limit Will Increase to $766,550 FHFA Announces Conforming Loan Limits for 2024 | Federal Housing Finance Agency Washington, D.C. – The Federal Housing Finance ...
Read More →

Mortgage Soft Pull for Stress-Free Home Shopping

Welcome to George Mason Mortgage – Your Key to Stress-Free Home Buying! Are you ready to embark on your home-buying journey? We believe that knowledge ...
Read More →

Federal Home Loan Bank (FHLB) of Atlanta provides Grants for Community Partners and First-Time Homebuyers

Opening Doors for More Homebuyers George Mason Mortgage understands that saving money for a down payment and closing costs is one of the most challenging ...
Read More →
Out of This World Rent

Rent prices out of this world?

At George Mason Mortgage, we understand the challenges you may be facing in today’s housing market, and we are here to empower you with viable ...
Read More →
Maryland Smartbuy Program 3.0

Achieve Your Dream Home and Tackle Student Debt with Maryland SmartBuy Program 3.0

Are you a Maryland resident dreaming of homeownership but burdened by student debt? The Maryland SmartBuy Program 3.0 is here to help you turn that ...
Read More →
Gifts Grants and Affordable Seconds - Horizontal

Unlocking Opportunities with Gifts, Grants, and Affordable Seconds

GIFTS Take advantage of the generosity of your loved ones or community organizations! This allows you to receive financial assistance from eligible donors to use ...
Read More →
Scroll to Top