Press Release
Weichert Financial Services Rolls Out New State-Of-The-Art Mortgage Processing System
7/25/2006
MORRIS PLAINS, N.J. – Weichert Financial Services, an affiliate of Weichert, Realtors®, has implemented an advanced new system that streamlines the processing of mortgage loans and automatically communicates loan status milestones as they happen, with the goal of keeping customers fully informed.
The customized system, called GLOBE, was designed to elevate customer service to the highest possible level.
Fred Watkins, president of Weichert Financial Services, said, “For most home buyers, having their financing in place to meet their scheduled closing is a critical component of the home purchase. With its increased efficiencies, the new GLOBE system is helping us do an even better job of keeping the home buyer up to date, while exceeding industry norms for timely delivery.”
The sophisticated GLOBE system enables Weichert Financial Services to deliver closing packages well in advance of the settlement date. The company said that currently 94% of its closing packages go out 24 hours in advance and 81% a full 48 hours prior. Those figures are in stark contrast to a recent industry survey showing that real estate professionals’ number-one complaint about the mortgage process is the failure of lenders to provide settlement figures a day or more before closing.
GLOBE’s enhanced communication feature is expected to further strengthen Weichert Financial Services’ already high level of customer satisfaction, now at 95% according to its latest survey. The system automatically sends e-mail notifications to the company’s mortgage specialists, known as Gold Services Managers, at several critical points in the mortgage loan process, including when the appraisal is ordered and received, when the mortgage commitment is issued, and when the closing package is sent to the settlement agent. The Gold Services Manager can then communicate these loan updates to the Weichert, Realtors sales agent and the home buyer so that every party is aware of how the financing is progressing.
GLOBE also includes enhanced security features and file archiving.
Gold Services Managers serve every Weichert office, providing quick mortgage credit approvals and mortgage counseling. Ranked in the Top 100 of U.S. lenders by the Mortgage Bankers Association, Weichert Financial Services offers more than 360 mortgage products.
Weichert has nearly 19,000 sales associates in more than 425 company-owned and franchised sales offices in key markets throughout the U.S. A family of full-service real estate and financial services companies, Weichert helps customers buy and sell both residential and commercial real estate, and streamlines the delivery of mortgages and home and title insurance. For more information, call Weichert's customer service center at 1-800-USA-SOLD or visit Weichert's Web site, www.weichert.com. Each Weichert franchised office is independently owned and operated.