Company
Bank of Oklahoma Mortgage Group’s Process Now Includes eLynx Fulfillment Services
Integrated delivery, signature, and print-and-mail services support growth and progresses toward end-to-end electronic closing services.
November 17, 2011
CINCINNATI, OH – November 17, 2011 – eLynx, a portfolio company of American Capital (NASDAQ: ACAS), announced today that Bank of Oklahoma Mortgage Group is now processing loan documents on the eLynx ExpediteSM platform. With Expedite, the bank prepares and delivers all loan documents to borrowers electronically, including electronic consent and signatures. Borrowers that do not provide an email address or decline the electronic delivery process will have their documents automatically printed and mailed using eLynx’s redundant and secure print-and-mail facilities. Loan officers never lose a document because this fail-safe offering that facilitates all borrower deliveries with comprehensive tracking and auditing capabilities.
The addition of these services represents the first phase in an initiative that will ultimately enable a fully electronic, end-to-end workflow for Bank of Oklahoma Mortgage Group’s processes. The next phase involves implementation of eLynx’s electronic closing network (eCN) services with settlement agent management, secure delivery of closing documents, title underwriter validation of the settlement agent and closing transaction, fraud notification, and electronic HUD reconciliation with settlement agents.
“We are pleased with how eLynx stepped up quickly to help us improve our borrower loan document fulfillment business processes, which are critical to the continued strength of our business,” said Ben Cowen, president of Bank of Oklahoma Mortgage Group. “With the Expedite platform and eCN, eLynx offers us the roadmap and technology we need to realize our vision of a truly integrated, end-to-end electronic mortgage workflow. That is the key to our efficiency and continued growth. We are confident that this partnership will empower us to fulfill our vision for the bank.”
“It is a pleasure working with a visionary company such as Bank of Oklahoma Mortgage Group,” said Sharon Matthews, president and CEO of eLynx. “The fast-moving executives at BOK realize that the adoption of eMortgage technologies provides financial and customer service benefits right away. This forward-thinking institution is taking the paper out of its mortgage process while simplifying its existing loan processing workflow.”
About Bank of Oklahoma
Bank of Oklahoma is a division of BOK Financial, a regional financial services company that provides commercial and consumer banking, investment and trust services, mortgage origination and servicing, and an electronic funds transfer network. Holdings include BOKF, NA, BOSC, Inc., Cavanal Hill Investment Management, Inc., and Southwest Trust Company, N.A. Operating divisions of BOKF, NA include Bank of Albuquerque, Bank of Arizona, Bank of Arkansas, Bank of Oklahoma, Bank of Texas, Colorado State Bank and Trust, Bank of Kansas City, and the TransFund electronic funds network. Shares of BOK Financial are traded on the NASDAQ under the symbol BOKF. For more information, visit www.bokf.com.
About eLynx
eLynx, a portfolio company of American Capital (NASDAQ: ACAS), provides the most widely used network for data-centric document collaboration and distribution services for the financial services and real estate industries. Enterprises use eLynx to capture and maintain data electronically throughout the document life cycle, automating paper-intensive processes, improving workflow, reducing costs and ensuring compliance with industry regulations. The company has built the largest and most comprehensive U.S. real estate settlement agent database and is a recognized leader in electronic closing services. eLynx serves more than 4,000 clients of all sizes worldwide, including 25 of the top 50 U.S. banks and has processed over 50 million loans. More than 4 million users utilize eLynx's enterprise document output solutions. The company was founded in 1994 with headquarters in Cincinnati and offices in Portland, Oregon. It maintains redundant data centers in Beaverton, Oregon, and Cincinnati, Ohio. For more information, visit www.elynx.com.
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Company Contact:
Dewey Kelly
Director of Marketing and SwiftView Tools, eLynx
Media Contact:
Rick Grant
800-979-9049
570-497-1026 (cell)
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