Williston Financial Group in Portland, Ore., has formed a subsidiary to focus on providing technological improvements to mortgage and real estate transactions.
The new business unit, named West, will offer products that make the mortgage origination and closing processes more efficient, according to a Monday news release.
"The amount of time and effort it takes to complete a real estate transaction today is bloated and unnecessary," Steve Ozonian, chairman of Williston, said in the release.
"The process most used today is a disjointed combination of ad hoc procedures grounded in regulation, outdated concepts and blind allegiance to the concept of 'what we've always done.'"
West's technology system connects all interested parties in a transaction, including real estate agents, lenders and title agents, under the applicable business and regulatory requirements.
