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Williston Financial Group (WFG) has introduced west, a wholly-owned subsidiary the sole focus of which is streamlining and enhancing the entirety of the mortgage and real estate transaction through technology-enabled services and processes. According to Steve Ozonian, chairman of the board for west, the core concept is based upon the use of technology in combination with innovative, flexible processes. The company is comprised of high impact technology solutions and flexible service providers across the mortgage and real estate transaction working to re-imagine an otherwise cumbersome, multi-touch real estate process from origination to closing.
“The amount of time and effort it takes to complete a real estate transaction today is bloated and unnecessary,” said Ozonian. “The process most used today is a disjointed combination of ad hoc procedures grounded in regulation, outdated concepts and blind allegiance to the concept of ‘what we’ve always done.’ The technology and capability exists right now to trim significant time, cost and redundancy from the transaction, which is what west has been built to do.”
West will operate under its Transaction Integrated Processing system (TIPs) philosophy to use technology and process to connect stakeholders around a transaction to ensure that every system and application is connected under the proper business and regulatory requirements.
The company’s ultimate goal is to improve the entire transaction for real estate agents, lenders, title companies and the consumers who will receive transparency during their transactions.
“There is no acceptable reason for the number of isolated parties using isolated processes and ineffective technology when it comes to originating and closing a mortgage,” said Patrick Stone, chairman and CEO of WFG. “As an industry, we are ignoring numerous potential answers to the challenge of shortening the process, making it less labor intensive and reducing the opportunity for error. West is about improving process, communications and results using the most effective combination of technology, process, innovation and people.”