First Houston Mortgage Originates Fully Electronic Loans with Encomia eMortgage Solution
June 4, 2007
HOUSTON --Encomia, a provider of end-to-end eMortgage technology, announced that Houston-based First Houston Mortgage Corp. has successfully launched its eMortgage solution, enabling fully electronic mortgage origination.
With full, in-house mortgage banking services, First Houston Mortgage implemented Encomia’s eMortgage solution as a comprehensive tool kit for the creation of SMART Docs, electronic signature capability and secure document archival. Using Encomia technology, the loans are stored in the electronic vault of Horesham, Pa.-based GMAC Bank. Through the elimination of manual processing, First Houston Mortgage gains a significant efficiency advantage over its competitors.
The solution enables First Houston Mortgage to alleviate dependency on communication and document transfer via telephone and fax, enabling faster processing of loans. In addition, eMortgage software prevents errors and allows for timely document review by providing a communication platform between the mortgage company, buyer and title agency.
“We share a strong vision with Encomia to increase efficiency within the mortgage industry as a whole and provide cost efficient loans to customers through electronic origination of mortgages,” said David Zugheri, president of First Houston Mortgage.
“With the Encomia eMortgage solution, we can reduce labor costs associated with manually processing loans for the benefit of the customer.”